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Ola Electric’s public offering fully subscribed on Day 2
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Ola Electric’s initial public offering (IPO) was fully subscribed as of Monday evening, data from the BSE showed.
As of 4:57 pm, the retail portion of the offering was over-subscribed nearly three times. The non-institutional investors portion was also slightly oversubscribed at 1.11 times the number of shares offered.
The shares reserved for employees saw the steepest oversubscription, at nearly nine times the shares on offer. Qualified institutional buyers (QIBs) trailed all other subscription categories with a 40% subscription.
The company has priced its IPO between Rs 72 and Rs 76 per share, and will be valued at Rs 33,500 crore (around $4 billion) at the higher end of the price band.
About this in other media
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