From TechCrunch, August 8/9:
Ola Electric, the largest electric two-wheeler maker in India, jumped as much as 14.4% on its public debut Friday in what is the biggest listing among Indian firms in two years.
Shares of the Bengaluru-based firm, which counts SoftBank and Temasek among its backers, jumped to 87 rupees ($1.04), higher than the upper price band of 76 Indian rupees. The company filed for an IPO at a 26% lower valuation than the $5.4 billion it achieved in a funding round in October 2023, and significantly below the $6.5 billion to $8 billion range initially targeted for the IPO.
At 87 rupees, Ola Electric commands nearly $4.6 billion in market cap....
....MUCH MORE
I wouldn't use the word "surges" but it is a nice pop. We don't have any interest in new flotations, you end up getting too much of the cold ones, too little of the hot ones, have no free-trading pricing history to guide purchases or sales etc. On the other hand the information contained in offering documents can be very valuable.
Here's Ola's Red Herring dated July 28 (461 page PDF), I'll see if I can round up a final prospectus.
The Hindustan Times has some details on the subscription:
....The IPO received robust investor interest and was subscribed 4.27 times. Qualified Institutional Buyers (QIBs) and retail subscribed 5.31 times and 3.92 times their respective allotments while non-institutional investors (high net-worth individuals) bid 2.4 times the shares allocated to them....
....MUCH MORE
