Ola Electric Mobility IPO
Ola Electric Mobility Limited (OLAELEC) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 09 August 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +7.2% (likely range +2% to +19%), day's high +20.7%, chance of a gain 82%. Actual: 0.0% at the open, +20.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 25,22,96,550 | 1,34,03,39,910 | 5.31x | |
| NII (HNI) total | 12,72,10,049 | 30,49,72,980 | 2.40x | |
| Big NII (above ₹10 lakh) | 8,48,06,700 | 22,25,02,995 | 2.62x | |
| Small NII (₹2-10 lakh) | 4,24,03,349 | 8,24,69,985 | 1.94x | |
| Retail | 8,48,06,699 | 33,24,44,970 | 3.92x | |
| Employees | 8,46,153 | 1,01,46,045 | 12.0x | |
| Total | 46,51,59,451 | 1,98,79,03,905 | 4.27x |
Bids on NSE and BSE together, as published by NSE, as of 06 Aug 2024, 07:00 PM. Shares offered exclude the anchor portion. 15% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Ola Electric Mobility's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Krishna Institute of Medical SciencesJun 2021 | 5.26x | 1.89x | 2.89x | 3.86x | ₹2,145 Cr | +22.3% | +28.4% |
| Life Insurance Corporation of IndiaMay 2022 | 2.83x | 2.91x | 1.99x | 2.95x | ₹21,008 Cr | -8.1% | -3.2% |
| Craftsman AutomationMar 2021 | 5.21x | 2.84x | 3.43x | 3.81x | ₹824 Cr | -8.8% | 0.0% |
| UTI Asset Management CompanyOct 2020 | 3.34x | 0.93x | 2.32x | 2.31x | ₹2,160 Cr | -9.8% | -4.3% |
| Eris LifesciencesJun 2017 | 4.68x | 0.45x | 3.51x | 3.29x | ₹1,741 Cr | +1.3% | +4.2% |
| ICICI Lombard General Insurance CompanySep 2017 | 8.17x | 0.83x | 1.23x | 2.98x | ₹5,701 Cr | -1.5% | +5.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| BofA Securities India | 18 | +30.6% | 72% |
| Goldman Sachs (India) Securities | 16 | +18.4% | 69% |
| Axis Capital | 107 | +20.4% | 73% |
| ICICI Securities | 109 | +21.3% | 69% |
| SBI Capital Markets | 56 | +16.7% | 61% |
| BOB Capital Markets | 6 | +4.9% | 50% |
Offer documents (NSE)
Frequently asked
What is the Ola Electric Mobility IPO price band and lot size? ₹72.0–76.0 per share, with a lot of 195 shares, so the smallest retail bid is ₹14,820.
How many times has it been subscribed? 4.27x overall: QIB 5.31x, NII 2.40x, retail 3.92x, employees 12.0x.
How did it list? It opened at ₹76.0, +0.0% against the issue price of ₹76.0, and closed its first day +20.0%.
