OLA Electric IPO Allotment – Check Status on Link Intime

OLA Electric IPO allotment status is now available. Allotment status is to be available on August 7, 2024. This is as per the timeline provided in the red herring prospectus (RHP) of the IPO.

OLA Electric IPO closed with a strong subscription of 4.26 times while Employee subscriptions stood at 11.66 times. The stock is likely to get listed on 9 August but meanwhile, all eyes are on allotment. After finalization of allotment, initiation of refunds is scheduled to occur on 8 August and shares are expected to be credited to successful investors’ demat accounts by 8 August. Owing to strong positive sentiment in OLA Electric IPO GMP, successful allotment to investors is likely to be difficult.

Here are some ways in which you can check OLA Electric IPO allotment status online.

#1 Registrar Website – Most effective way to check OLA Electric IPO allotment status

Once an IPO is closed for subscription, the ball moves in the court of the issue registrar. In this case, the registrar is Link Intime so investors can simply head to its website, select OLA Electric from the dropdown menu, and enter ANY of the following details to check their allotment status:

• PAN
• IPO Application Number (CAF Number)
• Beneficiary ID (NSDL or CDSL Demat Account Number)

It should be noted that registrar websites are flooded on allotment days and might become very slow. Thankfully, Link Intime has a relatively better infrastructure. In any case, it is worthwhile to keep your options open.

#2 BSE Website

Another effective way of checking OLA Electric IPO allotment status is the IPO allotment page on the BSE website. However, investors need to know the application number in addition to PAN to check the status through this option. Simply select equity, relevant IPO, application number, and PAN to get status.

BSE has a relatively robust infrastructure for its website and thus, investors are unlikely to face problems of slow connection and unresponsiveness in this option.

#3 Bank Account Debit/Removal of Lien

If your search hasn’t yielded results so far, you might want to check your bank account. Most banks have robust infrastructure and communicate balance to account holders in several ways including SMS so you might not as well need to log into net banking.

If the investor’s application has been successful, it is followed by a debit of the corresponding amount. The debit amount for a single lot in OLA Electric IPO is INR 14,820. If the application is unsuccessful, then the bank account will see the effective balance go up by this amount which was marked on hold for the application.

In case of successful allotment, the bank account balance goes down by the corresponding amount. It is important to note that IPO allotment and amount deduction from a bank account are two different events but in some cases, both happen almost concurrently.

#4 Credit of Shares in Demat Account

If everything else has failed, you can check your demat account for credit of shares. However, this approach is the slowest of all the methods. In many cases, shares may be credited on the day of listing as well, effectively taking away all the fun of allotment.

OLA Electric IPO Allotment FAQs