EV mobility startup Ola Electric
has set a price band in the range of INR 72-76 per equity share for its upcoming initial public offering (IPO), which is opening for bids on Friday (August 2).
At the upper price band, the startup is expected to raise over INR 6,145.6 Cr.
Ola Electric’s public offer comprises a fresh issue of shares worth up to INR 5,500 Cr and an offer-for-sale component of up to 8.49 Cr shares worth INR 645.6 Cr. The company’s IPO will close on August 6.
The anchor bidding is starting on August 1. The bid lot of the IPO is 195 shares. Its IPO will have 75% allocation towards qualified institutional buyers (QIBs), 10% towards retail, and 15% towards the non-institutional investor (NII) category.
(The story will be updated soon)
