Ola Electric IPO: Ola Electric has raised ₹2,763 crore from anchor investors ahead of its IPO subscription opening for bidding. India’s largest electric two-wheeler (e2W) maker’s initial public offering (IPO) is all set to hit the D-Street for its three-day subscription on Friday, August 2, and will close on Tuesday, August 6. The price band for the pure electric vehicle (EV) player’s IPO has been fixed in the range of ₹72 to ₹76 per equity share with a face value of ₹10.
The anchor round of the SoftBank-backed public issue saw participation from a host of investors, such as foreign portfolio investors (FPIs), domestic mutual funds, and insurance companies. According to BSE data, the anchor allotment was made to over 80 domestic and foreign funds on Thursday, August 1.
Also Read: Ola Electric IPO opens tomorrow: GMP, issue details, 10 key things to know
SBI Mutual Fund (MF), HDFC MF, Nippon India MF, Sundaram MF, Bandhan MF, Bharti Axa Life Insurance Company, Kotak Mahindra Life Insurance Company, Government Pension Fund Global, Nomura India Investment Fund, Goldman Sachs (Singapore) Pte Ltd, and Fidelity were allotted shares in the anchor round.
Ola Electric IPO Details
Ola Electric’s ₹6,146 crore IPO is the biggest since the ₹21,000 crore IPO of the state-owned Life Insurance Corp (LIC) of India in May 2022.