The much-awaited Ola Electric shares made its debut in the stock market on Friday, August 9, 2024. However, Ola Electric shares listing witnessed a flat debut as its share price began trading at Rs 76 apiece on NSE as against its issue price of Rs 76 apiece. On BSE, Ola Electric shares were listed with a discount of 0.01% at Rs 75.99 apiece. For the unversed, OLA Electric IPO hit Dalal Street on Friday, August 2, 2024, and till 12:54 IST, Bombay Stock Exchange Data suggested that its subscription status is 23%. BSE report further stated that the quota for retail investors received 1.07 times subscription, while the non-institutional investors part got subscribed 10%. The electric two-wheeler company was looking to raise Rs 6,145.56 crore. Before the IPO, it had already raised Rs 2,763.03 crore from anchor investors. With Ola shares listing is done, the question arises what should the investors do with it i.e. hold it in hopes of profit in the future or sell it at break even? A discussion has started on Reddit on what should be we do with Ola Electric shares-
A Reddit user posted a discussion shared a snip that he has been allotted the shares in the IPO. The user wrote, "So i mostly apply 1/1/1/1/1 retail applications on most good companies, but for some reason i applied for OLA for 1 retail application and got it. Current GMP is -3%, so mostly it will be listed at discounted rate. REASON FOR APPLYING: So i apply to mostly all good ipos of atleast 5 lots. In the morning of first day ipo when i wake up, not sure what was on my mind, i applied, but considering the risk i only applied for 1 lot. It's a small amount, can leave it for long term. Who else got? And what's your strategy for tomorrow? To sell instantly if listed around 75?, or to Hold?"
Responding to it a user wrote, "There is new bike launch on Aug 15th, I was hoping to hold it till then, lucky now."
"Don't worry. The GMP doesnt matter. Promoters will pump this to the moon for their own exit," wrote another user.
What do the experts think about Ola Electric stocks?
A report quoted an investment firm founder who suggested the investor for a medium-term hold of Ola Electric stock. "At the time of listing, Ola Electric shares had a trading volume of around 6 crore that surged to over 34 crore within an hour of share listing. This means institutional buying has taken place at an alarming level, and hence, chances of retracement in Ola Electric share price from the higher levels are limited. So, Ola Electric shareholders are advised to hold the scrip maintaining stop loss at Rs 75."
After its debut on Dalal Street, Ola Electric's share price witnessed strong buying after a flat listing on the Indian stock market on August 9, 2024. As per reports, Ola Electric shares hit the upper circuit of 20% on NSE. Ola Electric share price was locked at 20% upper circuit at Rs 91.20 apiece on NSE as against its listing price of Rs 76 per share. Ola Electric shares were listed at par with its issue price. On BSE, Ola Electric shares hit 20% upper circuit at Rs 91.18 apiece.
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