OLA Electric IPO GMP Today: Opens 2nd August!

Ola Electric is set to launch its initial public offering (IPO) on August 2, 2024 (now open for subscription). The IPO will be open for public subscription until August 6, 2024. This event marks a significant milestone as Ola Electric will become the first Indian electric two-wheeler manufacturer to be listed on the stock exchanges. The Ola IPO GMP is predicted to be finalized at 16% before its opening, but considering the hype, it can be much more!

The IPO consists of a fresh issue of shares worth ₹5,500 crore and an offer for sale (OFS) of 645.56 equity shares. The price band for the IPO is set between ₹72 and ₹76 per share, with a minimum investment requirement of ₹14,820 for one lot of 195 shares. The shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 9, 2024.

The proceeds from the IPO will be used for expanding the capacity of Ola Electric's cell manufacturing plant, repaying or prepaying certain borrowings, funding research and development, and other general corporate purposes​.

The OLA Electric IPO GMP Today is ₹14. This IPO is now open for subscription so stay tuned for further GMP updates.

In FY24, Ola Electric’s revenue from operations increased by 90.42% to ₹5,009.8 crore compared to FY23. However, the company’s losses also grew, reaching ₹1,584.4 crore, up from ₹1,472 crore the previous year. 

Therefore, the Grey Market Premium (GMP) for Ola Electric's IPO is hovering around ₹15-₹20 per share. This indicates a moderate level of investor interest and potential listing gains​​. However, the final GMP may vary as the IPO date approaches. Considering Ola IPO’s GMP predictions, it is recommended as a long-term gains stock.