Out of the total allocation of 36,35,56,135 equity shares to the anchor investors, 14,70,10,695 equity shares were allocated to 10 domestic mutual funds through a total of 31 schemes amounting to Rs. 1,117.28 crore (approx.) i.e. 40.43% of the Total Anchor Book Size
FinTech BizNews Service
Mumbai, August 1, 2024: Ola Electric Mobility Limited, a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components, has garnered Rs. 2,763.03 crores from anchor investors ahead of its initial public offering that opens for public subscription on Friday, August 2, 2024. The company informed the bourses that it allocated 36,35,56,135 equity shares at Rs. 76 per share on Thursday, August 1, 2024, to anchor investors.
Foreign and Domestic Institutions who participated in the anchor were SBI MF, HDFC MF, Nippon MF, UTI MF, Mirae Asset MF, Norges, Nomura, Fidelity, Franklin Templeton, Pictet, Sundaram MF, HDFC Life Insurance Company, Matthews MF, Kotak Mahindra Life Insurance Company Ltd, Jupiter MF, Bandhan MF, BNP Paribas MF, Bharti AXA Life Insurance Company Ltd, JM Financial MF, Goldman Sachs, Societe Generale, Morgan Stanley, Bengal Finance and Investment Pvt Ltd, and others.
Out of the total allocation of 36,35,56,135 equity shares to the anchor investors, 14,70,10,695 equity shares were allocated to 10 domestic mutual funds through a total of 31 schemes amounting to Rs. 1,117.28 crore (approx.) i.e. 40.43% of the Total Anchor Book Size.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
IPO Details
The IPO consists of fresh issue of up to Rs 55,000 million and an offer for sale (OFS) of up to 84,941,997 equity shares by Promoter Selling Shareholders and Investor Selling Shareholder. The offer also includes a reservation for eligible employees.
The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Friday, August 2, 2024, and closes on Tuesday, August 6, 2024. The price band for the Offer has been determined at Rs 72 – Rs 76 per equity share.
The IPO will fetch Rs 6,145.56 crore at the upper end of the price band.
Investors can bid for a minimum of 197 equity shares and in multiples of 197 equity shares thereafter.
The Offer is being made through the Book Building Process, wherein not less than 75% of the net offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the net offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the net offer shall be available for allocation to Retail Individual Bidders.
