OLA Electric IPO Subscription – Live Status on Day 3

Last updated on August 9, 2024

OLA Electric IPO subscription started on 2 August 2024 and will close on 6 August 2024. OLA Electric plans to raise around INR 6,111.58 – 6,145.56 crores via the IPO. The price band is fixed at INR 72 – 76 per share. The OLA Electric IPO market lot has 195 shares and the minimum application amount is INR 14,820. The retail quota is 10%, QIB is 75% and NII is 15%.

Check OLA Electric IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. The public issue has QIB, NII, and Retail categories for the subscription. In addition, there are shares reserved for employees and the company is giving nearly 9% discount to its employees. Here you can find OLA Electric IPO subscription status segregated by days and investor categories.

OLA Electric IPO Subscription Status – Live Updates

36,35,56,135 shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.

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OLA Electric – Business Background

Ola Electric is a significant player in India’s EV market, commanding a 35% market share in the electric two-wheeler segment as of FY 2024, a notable increase from 21% in FY 2023. The company sold approximately 329,000 units in FY 2024, more than doubling its sales from the previous year. Founded by Bhavish Aggarwal, Ola Electric focuses on vertically integrated technology and manufacturing capabilities for EVs and their components, including battery cells.

In FY 2024, Ola Electric reported a revenue increase of 90.42%, reaching INR 5,009.8 crore, although its losses widened to INR 1,584.4 crore from INR 1,472 crore in the previous fiscal year. The financial performance reflects the company’s aggressive growth strategy in a rapidly evolving market.

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Investor Categories in OLA Electric IPO Subscription

The three most important categories of IPO investors defined by SEBI are part of the OLA Electric IPO.

Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.

Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.

Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.

The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).

Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors. 

Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.

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OLA Electric IPO Subscription Status FAQs