Get ready to invest in OLA IPO, price band fixed at Rs 72 to 76

Electric two-wheeler Ola Electric Mobility is soon going to enter the stock market. In June, Ola's IPO was approved by SEBI. Now, from August 2 to August 6, bids can be placed in the company's IPO. Today, the company has also given information about the price band and lot size.

It has fixed the price band of this IPO at Rs 72-76 per share. An issue of Rs 5,500 crore will be issued in this IPO. This IPO includes an Offer for Sale along with a fresh issue. The face value of this IPO is Rs 10. Under OFS, promoter Bhavish Aggarwal, along with SoftBank, Temasek, and Matrix Partners India, will sell their shares.

Anchor investors can only take part in the bidding process in the IPO on August 1, 2024. The company has fixed the lot size of the IPO at 195 shares. This means that the investor will have to apply for a minimum of 195 equity shares. The company has announced a discount of Rs 7 per share on the offer price for eligible staff members.

Ola Electric Mobility is the first Indian electric vehicle company to launch an IPO.

• Price Band: Rs 72 - 76 per share
• Lot Size: 195 Equity Shares
• IPO Open: 2 August 2024
• IPO Close: 6 August 2024
• IPO Face Value: Rs 10

Ola has reserved 75 percent of the IPO for Qualified Institutional Buyers (QIP). At the same time, 15 percent has been reserved for non-institutional investors and 10 percent for retail investors.

According to the information given by the company, the company had a loss of Rs 1,584 crore in the last financial year. At the same time, in the financial year 2022-23, the company had a loss of more than Rs 1,472 crore. OLA Electric Mobility said that it will use the money raised through this IPO for research and development (R&D).