Ola Electric has muted listing

The much awaited Ola Electric got listed today. It got listed the issue price of Rs.76, went up to Rs.89.60 and is currently trading at Rs.88 levels.

The IPO had met with a muted response. The issue was overall subscribed 4.27x, with QIBs portion at 5.31x, HNIs at 2.4x and Retail at 3.92x.

Ola Electric is a electric two-wheeler (e2W) maker and it enjoys a 35% market share in Indian e2W market, which is barley 5% of total 2W industry.

Our IPO Analysis was pretty harsh thus truthful, concluding - Ola Electric instils zero confidence, on any count. Hence, keep your money safe and avoid the IPO at all cost.