Ola Electric IPO allotment status was finalized yesterday i.e. on August 7, 2024! The refunds will initiate today and finally, the shares will be credited to your Demat Account. Investors can check their Ola Electric IPO allotment status online on Linkintime. In this blog, we will provide you with a step-by-step guide to checking the allotment status online.
Then we will take a look at the Grey market premium of Ola Electric, and see how the company is performing in the Grey Market!
Basis of Ola IPO Allotment
Ola IPO is allotted based on retail subscription with a ratio of approx. 1:4!
The IPO for Ola Electric was active for subscription between August 2 to August 6. The company had issued a book-built issue with a lot size of 195 shares, with Ola Electric share price ranging between ₹72 to ₹76!
Steps to Check Ola IPO Allotment
You can check allotment status using these three methods: On Linkintime, Demat Account, and Using Bank Account!
Check OLA IPO Allotment on Linkintime
- Navigate to Linkintime.co.in, and log on to the Ola Electric IPO allotment page by searching for the IPO name.
- Insert details such as PAN Number, Application Number, or Demat Account Number as per your convenience.
- Then hit “Submit” and that’s all. The allotment page will appear on your screen.
Checking OLA Allotment Status in Demat Account
- Simply log in to your Demat Account/ Trading Account.
- Look at whether the stock is credited to your account or not. If yes, then you will be able to see all the details about it by clicking on it.
Checking Through Bank Account
- Open the bank account and go to the balance tab.
- If there is an amount deduction, then it means that you have received the allotment.
- Otherwise, the amount will be released.
- In case of amount deduction, you will have a detailed message describing the details of the transaction.
Grey Market Premium of Ola Electric IPO
The zig-zag market sentiments lead the grey market premium of Ola Electric to crash. As per various sources available, the company was trading at a grey market discount of ₹4 per share.
Many investors are still having double thoughts regarding the valuation and future prospects of the company given the challenges and business model of Ola Electric Mobility Ltd. As a result of which, the GMP of Ola reduced sharply.
Initially, the Grey Market Premium (GMP) for the Ola Electric IPO was relatively strong, reaching up to ₹17, which indicated an expected listing price of around ₹93 per share, representing a potential gain of over 22%.
However, as market sentiment shifted, the GMP dropped sharply, and by August 8, 2024, it had descended to just ₹4, suggesting an estimated listing price of ₹80, which would be only a modest 5% above the issue price of ₹76!
FAQs About Ola Electric IPO
Q1. How can I check the Ola Electric IPO allotment status?
Ans. You can check the Ola Electric IPO allotment status through three methods:
- On Linkintime: Visit Linkintime’s official website, navigate to the Ola Electric IPO allotment page, and enter your PAN, Application Number, or Demat Account Number.
- In your Demat Account: Log in to your Demat or Trading Account and check if the shares are credited.
- Through your Bank Account: Check the balance tab in your bank account for any amount deductions indicating allotment.
Q2. What is the basis of Ola Electric IPO allotment?
Ans. The Ola Electric IPO allotment is based on a retail subscription ratio of approximately 1:4, meaning that out of four applicants, one is likely to receive an allotment.
Q3. What was the Grey Market Premium (GMP) for the Ola Electric IPO?
Ans. The Grey Market Premium (GMP) for the Ola Electric IPO initially reached up to ₹17 per share, indicating a strong demand with an expected listing price of around ₹93. However, by August 8, 2024, the GMP dropped sharply to ₹4, suggesting a listing price closer to ₹80 per share.
Q4. How did the Grey Market Premium for Ola Electric IPO change over time?
Ans. The GMP for Ola Electric IPO fluctuated significantly due to changing market sentiments. It started strong at ₹17 but dropped to ₹4 by August 8, 2024, reflecting investor concerns about the company’s valuation and future prospects.
Q5. What was the price range for the Ola Electric IPO?
Ans. The price band for the Ola Electric IPO was set between ₹72 and ₹76 per share, with a minimum lot size of 195 shares.
Q6. When was the Ola Electric IPO open for subscription?
Ans. The Ola Electric IPO was open for subscription from August 2 to August 6, 2024.
Q7. What should I do if I don’t receive the Ola Electric IPO allotment?
Ans. If you do not receive the Ola Electric IPO allotment, the amount blocked in your bank account will be released back to you. You can confirm this by checking your bank account for any refunds.
Q8. Why did the Grey Market Premium for Ola Electric IPO decrease sharply?
Ans. The decrease in the Grey Market Premium for Ola Electric IPO was due to wavering investor confidence, driven by concerns about the company’s valuation and the challenges in its business model.