Ola Electric IPO Listing Date Today. Here’s What GMP, Experts Are Signaling

Date of Ola Electric listing on the stock exchange: The Initial Public Offering (IPO) date of Ola Electric Mobility Limited has been announced. As per the BSE notification, the IPO date of Ola Electric has been fixed for August 9, 2024. The shares of Ola Electric are proposed to be listed on BSE and NSE. This means that the shares of Ola Electric will be available for trading from 10:00 AM on Friday. The shares of Ola Electric will be listed in the ‘B’ group of securities.

According to stock market observers, the subscription status of Ola Electric IPO was below market estimates. They said that the Indian stock market is also under pressure, so Ola Electric IPO could be at a flat or discounted offer. They said that in the worst case scenario, the allocator could lose around 5 percent, while in the best case scenario, the allocator could get up to 10 percent profit on his money. Meanwhile, the grey market is also signaling a discounted offer for Ola Electric IPO. Market observers said that the shares of Ola Electric Mobility Limited are available at a discount ₹3 on the grey market today.

Ola Electric IPO Price Forecast

On the Ola Electric IPO, Prashanth Tapse, Senior Vice President-Research at Mehta Equities, said, “The much-awaited Ola Electric IPO has seen demand well below market expectations. Going by the subscription data and market sentiment, there is a very high probability of a flat or discounted offer in the range of minus 5 per cent to plus 10 per cent at best. A discounted offer would be warranted in view of the weak financials and the risk of negative net cash flows in the past and negative cash flows in the future.”

Expecting a downgrade in Ola Electric’s share offer, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, said, “The company is an emerging leader in the electric two-wheeler segment with a growing market share. However, it is loss-making and may take some time to turn around. Given the negative earnings, the issue has been priced at a negative P/E multiple. We expect a negative share offer in Ola Electric Mobility.”

“After receiving a below-expected response from market participants, Ola Electric Mobility Ltd is all set to list on the stock exchange tomorrow. The issue has been oversubscribed 4.45 times and is expected to trade at a discount of 3% over the upper band price,” said Parth Shah, Research Analyst at StoxBox.

Ola Electric Mobility Limited shares are available at a discount, according to stock market observers ₹3 in today’s grey market. This means that the grey market expects the Ola Electric IPO price to be around ₹73 ( ₹76— ₹3) per capital share.

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