Ola Electric, India’s leading electric two-wheeler manufacturer, has raised ₹2,763 crore from anchor investors in preparation for its upcoming initial public offering (IPO).
Foreign and Domestic Institutions who participated in the anchor were SBI MF, HDFC MF, Nippon MF, UTI MF, Mirae Asset MF, Norges, Nomura, Fidelity, Franklin Templeton, Pictet, Sundaram MF, HDFC Life Insurance Company, Matthews MF, Kotak Mahindra Life Insurance Company Ltd, Jupiter MF, Bandhan MF, BNP Paribas MF, Bharti AXA Life Insurance Company Ltd, JM Financial MF, Goldman Sachs, Societe Generale, Morgan Stanley, Bengal Finance and Investment Pvt Ltd, and others.
Out of the total allocation of 36,35,56,135 equity shares to the anchor investors, 14,70,10,695 equity shares were allocated to 10 domestic mutual funds through a total of 31 schemes amounting to Rs. 1,117.28 crore (approx.) i.e. 40.43% of the Total Anchor Book Size.
The IPO will open for subscription on Friday, August 2, and will be available for bidding until Tuesday, August 6.
Key Details of the IPO
- Price Band: ₹72 to ₹76 per equity share
- Face Value: ₹10 per share
- IPO Duration: August 2 to August 6, 2024
What to Know
- Anchor Investors: The significant amount raised from anchor investors indicates strong initial interest in the IPO.
- Ola Electric’s Position: As the largest electric two-wheeler manufacturer in India, Ola Electric’s IPO is highly anticipated in the market.
