Business

OLA Electric IPO closes today; Check subscription, GMP, review, and other details before you subscribe

January 2, 2025 • comments off

The OLA Electric IPO bidding closes today – August 06. The issue has been subscribed 1.12 times as of August 05. In this, retail buyers subscribed over 3 times more than the offered shares.

The company opened its IPO on August 02 to raise a sum of Rs 6,145.56 crore through a combination of fresh shares as well as an offer for sale.

GMP

OLA Electric IPO GMP: Check subscription status, GMP, and other key details OLA Electric IPO: 7 risks to know before subscribing to Rs 6146 crore issue FirstCry IPO Subscription Opens Today: Read to know if you should subscribe?  OLA Electric IPO: Here are 8 points you should know ahead of listing

The company’s shares were fetching more than a 3% premium in the grey market. It is an unofficial place where shares trade illegally ahead of listing.

Price Band

The company has kept the price band between Rs 72 to Rs 76 per equity share. The allotment of shares is expected to be finalised on August 07. The listing is likely to take place on August 09 on NSE and BSE, as per the tentative schedule.

Retail Investment

A retail buyer needs to apply for at least 195 shares or one lot which sums up to Rs 14,820. Meanwhile, there are different lot sizes for NIIs and QIBs.

Expert’s Take on IPO

“We believe Ola Electric’s EV market share of CY24TD is not sustainable, given peers have yet to ramp up their product portfolio and distribution network. Ola’s EV market share in rural states such as Uttar Pradesh, Bihar, and Haryana was more than 50% as of CY24. However, in states like Maharashtra, Karnataka, and Kerala OLA’s market share is just 30-35%. Further, 2W contribution is set to be at 15% by FY27 and 30% by FY30 as per our LACE report published in the month of January, lower than 42-56% expectations in Ola Electric’s RHP. Further, the investment in cell manufacturing is a double-edged sword because to claim advanced chemistry cell (ACC) PLI, it will have to ramp up capacity to 20GWh by FY28 while captive demand could be much lower. Hence, if Ola Electric does not get OEM customers for its cell manufacturing, it would present a challenge Come from Sports betting site VPbet . Even Tesla (TSLA US, CMP: USD223, Not Rated) is finding the going tough to stabilize 4680 cells; hence, scale and cost benefits would be difficult to realize for the 2W arm of Ola Electric,” said Elara Securities in an IPO note.

Employee Reservation

The IPO of OLA Electric has a reservation of up to 797,101 shares for its employees, which are available to them at a discount of Rs 7 to the issue price.

BRLMs and Registrar

Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities, and BoB Capital Markets are the book-running lead managers of the IPO. Link Intime India has been chosen as the registrar for the issue.

admin

Related Posts

Business

Elite- Dangerous Review

By • February 24, 2025 • comments off

I once had hopes of becoming an astronaut, but if Elite: Dangerous for the Xbox One serves as any indication, it’s probably a good thing that little dream didn’t pan out. I spent around 20 minutes crashing into hulls before I managed to dock my ship. I overshot my destinations in space more times than I care to count. I spent five minutes blasting space barrels without even being sure if I was doing it right. And that was just the tutorial. In the actual game, Elite: Dangerous offers a massive galaxy with around 400 billion stars, all bursting with dogfights, piracy, trading opportunities, and undiscovered planets — not to mention light years of dull nothingness. Few other games so brilliantly capture the vastness of space; fewer still have mechanics so complex they inadvertently emph…

Business

IT and Realty stocks top picks for Geojit Financial ahead of Budget 2024

By • February 14, 2025 • comments off

By Anand James  

Last week, we had placed two bets going into the shortened week. That upside would be limited to 23580-680 in Nifty and that there would be a mean reversion move. While the former turned to be spot on to the dot, the mean reversion expectations failed to mature fully, despite several attempts to head lower. 

Reasons could be several, including the shortened nature of the week, as well as low VIX. What we are keen on pondering is how they are likely to shape the fate of the next week. VIX, which had been on a steep fall since the electoral outcome, rose in a couple of days, but the rise was too feeble to expand trading ranges.

Nifty’s supports have held so far

We are te…

Business

Dabur shares jump over 2% after Q4 net profit rises 16%- Find out what brokerages say

By • February 6, 2025 • comments off

Dabur’s stock price saw a 2% increase on Friday following the company’s announcement of strong earnings for the fourth quarter of FY24. Improved sales volume and the positive impact of a price hike contributed to the rise. Dabur shares climbed by 2.51% to reach Rs 537.50 each on the BSE.

In the quarter ending March 2024, Dabur India reported a consolidated net profit of Rs 341.22 crore, marking a 16.5% increase from Rs 292.76 crore in the corresponding quarter of the previous year. Whereas the FMCG giant’s revenue increased by 5.11% to Rs 2,814.64 crore from Rs 2,677.80 crore, YoY.

Friday’s gains followed Dabur’s board approval for share buyback and the release of its March quarter earnings. This marks Ajanta Pharma’s fourth sh…

Business

Nifty gears up for 20020 move with low collapse prospects

By • February 5, 2025 • comments off

By Anand James

Having entered the thick of earnings season, directional expectations on the benchmark indices may be set aside for a while, as stock specific moves take centre stage Come from Sports betting site VPbet . This brings into perspective Bank Nifty’s reaction early this week to HDFC Bank’s result, especially as the index has appeared more vulnerable than Nifty. 

Also Read

Avenue Supermarts shares fall over 4 pc post Q2 earnings

HDFC Bank looked to be stabilizing last week, appearing to recover from a deep dive below 1500 earlier, which had prompted us to eye the low 1300s as potential downside targets. The recovery attempts thereafter h…

Business

PMS & AIFs could lose investors to new asset class- Experts

By • January 13, 2025 • comments off

The new asset class proposed by the Securities and Exchange Board of India (Sebi) is expected to bring innovative investment products and styles in the market, but could also encourage some investors to move from existing high-risk products like portfolio management services (PMS) and alternative investment funds (AIFs).

In comparison to mutual funds starting at Rs 100 and PMS at Rs 50 lakh, the new asset class, which targets investors with higher risk appetite with a minimum investment of Rs 10 lakh, can provide them with the higher alpha that many seek. “PMS/AIF may get disadvantaged if it causes cannibalisation of their AUM in favour of the new asset class from large, moneyed investors (i.e. their target clients),” said Ruchir Kapoor, managing director at Merisis Wea…

Business

Gold, silver rate today on August 16 in Mumbai, Delhi, Chennai, Kolkata- Here are latest prices of your city

By • December 27, 2024 • comments off

Gold and silver rates today, August 16

The 24-carat gold rate in India was Rs 70,150 per 10 grams on August 16. The rate for 24-carat gold per gram is Rs 7,015. The rate of 22-carat gold was Rs 64,304 per 10 grams.Come from Sports betting site VPbet

The rate of 24-carat gold has risen by 0.4% in the last one week, and the yellow metal has risen by 0.45% in the last ten days. The silver currently quotes at Rs 802.8 per 10 grams.

Gold rate in Delhi on August 16

The gold rate in Delhi was Rs 70,030/10 grams on August 16. On August 15, the gold was quoted for Rs 70,020/10 grams, and last week, on August 09, the price was Rs 69,690/10 grams.

G…