The initial public offering of electric scooter company Ola Electric will open for retail subscription on August 2, the company said in a filing with the securities regulator on Saturday. The public offering is expected to value the company at between $4.2 billion and $4.4 billion.
Ola Electric’s IPO will close for retail subscription on August 6, the final filing of the IPO prospectus revealed. The offer for institutional investors will open a day earlier on August 1.
What do the experts say?
Experts say that Ola is a futuristic company. The demand for electric 2-wheelers in the country will increase in the coming years and as a pioneer, Olo will get an edge in this segment. In such a situation, the company’s IPO is also a good opportunity to make money.
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Ola Electric had filed its IPO documents with SEBI on December 22, 2023. According to Money Control News, the company may raise Rs 74 crore from the IPO. In this regard, apart from issuing new shares, the company’s investors will also offer the shares for sale.
As per SEBI rules, retail investors i.e. common man can invest only minimum Rs 15,000 and maximum Rs 2 lakh in IPO of any company. In such a situation, for Ola IPO too you will need minimum investment of Rs 15,000. In such a situation, you can invest money in Ola IPO and sell it after seeing the actual profits when the company is listed in the stock market.
31 billion rupees raised through IPO
The IPO market has seen a boom in 2024. As of July 1, 2024, 34 companies had launched their IPOs in the primary market in the first six months. These 34 companies have raised over Rs 31,000 crore through IPO this year. What is interesting is that 75 percent of the companies that went public this year have given good returns to their shareholders. Notably, the shares of five of these companies have more than doubled or even tripled in just six months since their IPOs. In the year 2023, 58 companies had launched their IPOs. This year, in the first six months alone, the number has reached 34, more than half of last year’s total.
