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Ola Electric’s public offering fully subscribed on Day 2

Economic Times · 10m

Ola Electric's IPO was fully subscribed, with the retail portion oversubscribed nearly three times and the non-institutional investors portion oversubscribed at 1.11 times. The employee reserved shares saw the highest oversubscription at nine times. Qualified institutional buyers (QIBs) subscribed at 40%. The IPO has been priced between Rs 72 and Rs 76 per share, valuing the company at around $4 billion at the higher end of the price band.