Ola Electric Mobility Ltd (NSE: OLAELEC) Share Price: Share from Ola Electric is in focus in trading today, Tuesday.
The share price of the electric manufacturer of two-wheelers was down as much as 9 percent today and had reached an all-time low of Rs 73.70 during the day.
There’s a reason behind the decrease in the price. Ola Electric’s 3-month, 90-day anchor lock-in time was over today.
What Is The Detail?
The expiration of this three-month anchor lock-in period indicates that 18.18 crore of Ola Electric shares which were secured to anchor investors open for trading on the market.
However, the conclusion of the lock-in period is not a guarantee that the share will go on sale. The 30-day lock-in period for anchors to purchase an Ola Electric Mobility share ended on September 9th.
By the rules, the shares bought by anchor investors during the IPO are locked in for a lock-in time.
The majority of the shares allocated to the anchor investor are encapsulated for 30 days, while the other 50 percent are locked for 90 days following the date of grant.
IPO Came On August 2
Ola Electric IPO was launched on August 2, 2024, and the maker of electric two-wheelers was able to raise the sum of Rs 6145.56 crore from its market which was its primary source.
The day before the IPO was launched, Ola Electric raised Rs 2763 crore from anchor investors by allotting 36.35 crore shares to different international and domestic institutions for Rs 76 per share, which is the upper limit to be used for IPO.
Ola Electric shares made an uninspiring debut on the market on the 9th of August. Ola Electric shares were listed at Rs 76 each on NSE as well and the IPO cost was 76 rupees per share.
In BSE, Ola Electric shares were priced at Rs 75.99 with a discount of 0.01 percent.
Its shares earned excellent returns within the first week after the debut. Ola Electric’s share price reached a high of Rs 157.53 per share on the 20th of August.
It is a return of 108 percent. In a regulatory filing Monday morning, Ola Electric Mobility announced that its board of directors is due to be meeting on Thursday, November 08th, 2024.
It will release its financial results from the last quarter, as well as the half-year that ended on September 30, 2024.
Quick Fact
| Company name | Ola Electric |
|---|---|
| Sector | Electric two-wheeler manufacturing |
| Focus area | Electric vehicles |
| IPO launch date | August 2, 2024 |
| IPO fundraising | ₹6145.56 crore |
| IPO price per share | ₹76 |
| Anchor investor fundraising | ₹2763 crore |
| Anchor investor price per share | ₹76 |
| Initial market listing price (NSE) | ₹76 |
| Initial market listing price (BSE) | ₹75.99 |
| First-week peak share price | ₹157.53 |
| First-week returns | 108% |
| Anchor lock-in period | 3 months (90 days) |
| Shares unlocked post-lock-in | 18.18 crore |
| Anchor lock-in expiration date | November 5, 2024 |
| Upcoming financial results announcement | November 8, 2024 |
| Reporting period end date | September 30, 2024 |
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