Ola Electric IPO GMP today: The grey market is signalling that Ola Electric IPO listing price would be around ₹75, say market observers
Ola Electric IPO listing date: The listing date of Ola Electric Mobility Limited’s initial public offering (IPO) has been declared. According to the BSE notice, the Ola Electric IPO listing date has been fixed for 9 August 2024. Ola Electric’s share listing is proposed for BSE and NSE. This means Ola Electric shares will become available for trade from 10:00 AM during Friday deals. Ola Electric shares will be listed in the ‘B’ group of securities.
According to stock market observers, Ola Electric’s IPO subscription status was below market estimates. They said the Indian stock market is also under pressure, so Ola Electric IPO may have a flat to discounted listing. They said that in the worst case, an allottee might have to bleed around 5 per cent, whereas, in the case of the best scenario, an allottee may get up to 10 per cent gain on one’s money. Meanwhile, the grey market is also signalling a discounted listing for Ola Electric’s IPO. Market observers said that Ola Electric Mobility Limited shares are available at a discount of ₹3 in the grey market today.
Ola Electric IPO listing price prediction
On the Ola Electric IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities, said, “The much-hyped Ola Electric IPO received demand well below street expectation. Looking at the subscription figures and mood of the markets, there are very high possibilities of flat to discounted listing in the range of negative 5 per cent to positive 10 per cent in the best-case scenario. Discounted listing would be justified because of weak financials and risk of negative net cash flows in the past and future negative cash flows.”
Expecting a discounted listing of Ola Electric shares, 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 rising market share. However, it has been posting losses and may take longer to turn the corner. Due to negative earnings, the issue was priced at a negative P/E. We expect a negative listing of Ola Electric Mobility shares.”
“After garnering a below-expected response from the market participants, Ola Electric Mobility Ltd is all set to list on the bourses tomorrow. The issue has been oversubscribed 4.45 times and is expected to be listed at a discount of 3% over the upper band price,” said Parth Shah, Research Analyst, StoxBox.