Ola Electric IPO: This year’s most awaited Ola Electric IPO is being launched on August 2, next month.
Ola Electric’s IPO will be open for subscribers on August 2 and will close on the 6th of August on Tuesday.
The price range of Ola Electric Mobility’s IPO has been set between Rs 72 and Rs 76 for each share.
The company’s share are already available in the gray market at Rs 15.50 i.e. 21% premium.
What Is The Detail
According to the company’s Red Herring Prospectus (RHP), the cost of acquisition of Agarwal’s share was zero and he is selling 3,79,15,211 equity share from his stake.
The stake sale of the Chief Executive Officer of Ola Electric will be Rs 288.15 crore, which is a higher price which is Rs 76.
Let us inform you that equity shares upwards of Rs 5,500 crore are expected to be offered in the IPO.
Additionally, the offering to sell (OFS) that is 8.49 crore shares of equity will be offered by investors and promoters.
Ola Electric founder Bhavish Aggarwal will auction off around 3.8 crore shares as part of the OFS.
Other well-known companies that sell shares in the OFS are Matrix Partners India Investments and Alpha Wave Venture. Who will provide 37,275,534 equity shares and 37.82,883 equity shares.
They will get an amount in the amount of 9.25 times, and 1.21 times their cost of acquisition, which is Rs 8.22 and approximately Rs 62.38 and Rs 62.38, respectively.
Other shareholders taking part in the OFS, Alpine Opportunity Fund, and Tekne Private Ventures XV are losing money from the issue.
As their cost of acquisitions is Rs 111.51 and the cost is 113.12 per share, respectively.
Two investors have sold a total of 16.05 lakh shares that are worth Rs 12.20 crore.
Matrix Partners India holds a total of 12,96.46.570 share of equity in Ola Electric and this will leave 12,59,19,036 shares.
Farhan Akhtar And Zoya Akhtar Have A Stake Too
Bollywood siblings Farhan Akhtar and Zoya Akhtar are investors in Ola Electric.
Farhan owns a 3,55,683 equity stake in the company, valued at approximately 2.70 crore. In addition, his sister Zoya holds 1,778,841 equity shares worth 1.35 crore.
We can tell you that at the higher price of Rs 76, the top ten Ola Electric officials Ola Electric are sitting on an amount of cash equivalent to 10850 crore.
Out of the top officials at Ola Electric, the company’s chief executive officer and founder Bhavish Aggarwal owns 1,36,18,752,240 equity shares.
According to the upper price band, its value is Rs 10,350 crore.
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