Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The Ola Electric IPO has officially opened for subscription today, August 2, 2024, and will remain open until August 6, 2024. The company aims to raise approximately ₹6,145.56 crore through this offering, which includes a fresh issue of ₹5,500 crore and an offer for sale of ₹645.56 crore from existing shareholders.
Analysts are generally optimistic about the IPO, highlighting Ola Electric's position as a leader in the electric two-wheeler market in India. The company's revenue has seen significant growth, with reported earnings of ₹5,009.8 crore in fiscal 2024, a substantial increase from ₹2,630.9 crore the previous year. However, it also reported a net loss of ₹1,584.4 crore for the same fiscal year.
The grey market premium (GMP) for the shares is currently around ₹15, indicating a potential upside of about 20% over the issue price, which adds to the positive outlook from analysts.
Investors interested in participating in the Ola Electric IPO should consider the company's strong market presence and growth trajectory in the electric vehicle sector, along with the associated risks of its current financial losses.
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