Ola Electric IPO: Prices Set at Rs 72-76 Per Share, Aiming to Raise Over Rs 6,100 Crore
Ola Electric Mobility Limited, the Bengaluru-based electric vehicle (EV) manufacturer, has announced the price band for its upcoming initial public offering (IPO). The shares will be offered at a price range of Rs 72–76 each, with the IPO set to open for subscription on August 2 and close on August 6. Investors can bid for a minimum of 197 shares and in multiples of 197 shares thereafter. The company will raise Rs 6,145 crore at the upper end of the IPO price band and Rs 6,111 crore at the lower end IPO Details . Price Band: Rs 72–76 per share . IPO Opening Date: August 2 . IPO Closing Date: August 6 . Minimum Bid: 197 shares At the upper end of the price band, Ola Electric aims to raise Rs 6,145 crore, while the lower end targets Rs 6,111 crore. The IPO will consist of a fresh issue of up to Rs 5,500 crore and an offer for sale (OFS) of up to 8.49 crore shares worth Rs 645 crore. There is also a reservation for eligible employees. Use of Proceeds According to Bhavish Aggarwal, Cha...