OLA Electric IPO Date, Price Band, Valuation, GMP Today and Allotment

OLA is one of the biggest mobility service apps in India. The company has entered the EV market recently as OLA Electric and is looking for funds to grow further. OLA is planning to raise funds through an IPO. Having our hands in the mobility and EV sector can be a great opportunity. The company turned into a public company recently. We will share details about OLA Electric IPO Date, Valuation, GMP, and Allotment in the article below. OLA is looking to use the money for tech advancement.

OLA Electric IPO

The OLA Electric IPO will file the DRHP Draft Red Herring Prospectus before 20 December 2023. The IPO is expected to launch in March 2024. The company has not announced the exact date yet. The IPO can have an issue size of Rs. 15000 Crores. The company will have a $7-8 billion valuation for the upcoming IPO. OLA can raise around $700 million. It will be the first purely electric company listed on the stock market. It can come to the list of big IPO giants with its upcoming fundraising.

OLA Electric seeks a valuation of $7 billion to $8 billion. They had their last valuation at $5 billion. The company raised $384.43 million in the last round of funding from the State Bank Of India and Temasek. The funds raised have been divided into half debt and half equity. They had $240 million as debt and the rest from the equity dilution. It will be among the Top 15 IPOs in India. The funds raised will be used for tech advancement and the company’s further expansion.

OLA Electric GMP will be available in March 2024, a few days before the IPO opens. It will continue till the date of issue of IPO. GMP prices are often lower than the market price. Many people need clarification on whether to buy from Grey Market or not. It is not illegal. It is just an unofficial way to sell the shares.

OLA Electric’s allotment of shares will take place in March 2024. It will provide both an Offer for Sale and fresh equity shares. The company is in the process of filing DRHP. The IPO details will be mentioned by 2024 beginning. It’s one of the biggest IPOs in India. Before Ola Electric, Maruti Suzuki’s IPO was another big hit in 2003. We hope you get enough details about the OLA Electric IPO in the article. We will share more updates on the forthcoming IPO shortly.

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