OLA ELECTRIC IPO
Lenskart, Meesho deliver gains of nearly $400 million for SoftBank Vision funds
Lenskart saw returns of $273 million, the highest among the Vision funds' listed investments, while Meesho gained $121 million, according to SoftBank's earnings presentation released on Tuesday. The gains come as SoftBank continues to monetise its Indian investments, having sold shares worth more than Rs 9,300 crore in Lenskart and Meesho since June.
Stocks in news: Tata Power, Cupid, Garden Reach, ITC, Aurobindo Pharma and Vodafone Idea
Indian benchmark indices have extended their winning streak, closing positively after the Muhurat trading session. Key stocks such as life insurance companies and Tata Power reported notable quarterly earnings results. HDFC Life and LIC showed healthy premium growth, while Tata Power recorded a record profit in Q2 FY27. Other companies like Cupid and Mishra Dhatu Nigam also reported impressive profit increases during the quarter.
ET Prime Special Series: Multibagger or IBC – Part 84: Can rising demand for decorative features drive this auto ancillary's growth?
A car can change its engine and still look almost the same. It can also keep the same engine and look so different that buyers happily pay more for it. That is the peculiar corner of the automobile industry this story explores. For one listed supplier, the shift to EVs may be less threatening than it sounds. The bigger question is whether changing consumer preferences can help it build a more valuable business.
Ahead of Market: 10 things that will decide stock market action on Monday
Sensex and Nifty ended the week up about 0.5%, supported by resilient large-cap, IT and healthcare stocks. However, midcap and smallcap indices fell as much as 2% amid rising crude oil prices, inflation concerns and a global technology sell-off.
Motilal Oswal entities apply for 2.39 crore Ola Electric shares in Rs 1,000-crore rights issue
Motilal Oswal Financial Services and Calliope Capital Advisors have put in their bids for shares in Ola Electric Mobility's latest rights issue, which is set to raise Rs 1,000 crore by offering partly paid-up shares at Rs 27 each. The rights issue commenced on Thursday and will conclude on October 30, with crucial payment details outlined.
Menlo Ventures on AI slowdown; Ola Electric CEO pledges stake
Happy Monday! Menlo Ventures, an early Anthropic backer, says the real AI constraint is compute, not a slowdown in frontier models. This and more in today's ETtech Morning Dispatch.
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Listed startups unlock Rs 25,000 crore for VC, PE investors
An ET analysis of National Stock Exchange (NSE) and BSE block and bulk deal disclosures across 18 new-age companies shows sales by investors including Japan’s SoftBank group and venture capital firms Peak XV Partners, Elevation Capital and Accel.
Investors’ bets on Ola shrink as EV, ride-hailing businesses lose ground
As competition intensifies, SoftBank Group and fellow investors in Ola are grappling with a substantial reduction in their holdings' valuations. Ola Cabs is increasingly losing ground to competitors like Rapido and Uber, alongside a notable decline in Ola Electric's electric two-wheeler market share. While the company confronts financial hurdles and operational setbacks, a number of investors successfully realized returns through strategic share sales prior to value drops.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Nifty’s indicative price plunged 2% in two seconds during the closing auction session on monthly expiry, before recovering sharply. Analysts cited crude volatility, high US Treasury yields, FII outflows, IPO fundraising and geopolitical tensions as key market pressures.
Ola Electric shares tumble 9% after 17% rally in 4 days. Why brokerages remain cautious
Ola Electric shares fell sharply on Friday, snapping a four-day winning streak as investors assessed the EV maker’s proposed rights issue and ongoing funding needs. Despite a recent recovery, the stock remains well below its peak. Brokerages including Citi and Kotak continue to maintain bearish views, citing operational and cash-burn concerns.
Ola Electric shares soar 10%, stock rallies 86% in 6 months. More upside ahead?
Ola Electric shares surged nearly 10%, extending their three-session rally and gaining over 86% in six months from the March low. Brokerages, however, remain cautious amid weak volumes, lower margins and continued cash burn.
Ahead of Market: 10 things that will decide stock market action on Friday
Indian equities ended mixed on Thursday as Sensex slipped 22 points after sharp volatility during the closing auction session, while Nifty gained 53 points. Mid- and small-caps outperformed, with capital goods, industrial, defence, power and healthcare stocks attracting buying interest.
How Ather powered past Ola; Apple's first foldable iPhone
Ather Energy has surpassed Ola Electric in sales and other metrics. This and more in today’s ETtech Top 5.
Ather & Ola Electric: A tale of two contrasting rides
Ather Energy's stock price has significantly increased since its IPO. Ola Electric's shares are currently trading below their initial public offering price. Ather's average monthly sales have risen, while Ola's have declined sharply. Product development and management strategy differentiate these two electric scooter companies. Hero MotoCorp continues to invest in Ather, showing strong confidence in its future.
Initial Ola Electric IPO buzz fades away as GMP in negative ahead of listing. Will there be a surprise?
Ola Electric's shares debuted on the exchange, but the Grey Market Premium remains negative. Despite strong IPO interest, market sentiment declined. Revenue grew to Rs 5,009.8 crore in fiscal 2024, driven by sales of the Ola S1 series. Key anchor investors included Nomura and HDFC Mutual Fund.
Ola Electric IPO share allotment likely today: Check status, GMP, listing date and other details
Ola Electric IPO Allotment Date: Ola Electric's IPO share allotment was set to be finalized on Wednesday, allocated via a lottery system. Investors checked their allotment status on the BSE or registrar's website. The IPO, despite slow initial demand, was subscribed over 4 times. The company's revenue grew significantly, though it reported higher fiscal 2024 losses.
Ola Electric IPO subscribed over 4 times on Day 3, GMP falls to zero
The offering received bids for 1,98,107,1885 shares, representing 4.26% of the total 46,5,159,451 shares available. Retail investors demonstrated strong interest, subscribing to their quota 3.85 times over, while non-institutional investors booked 2.4 times their allocation. Qualified institutional bidders showed the highest demand, with their portion subscribed 5.3 times.
Ola Electric IPO sails through on Day 2. Check GMP
The initial public offering of Ola Electric was fully subscribed on the second day. Retail investors' portion was oversubscribed 2.87 times and non-institutional investors' portion 1.11 times. Analysts have a positive outlook and recommend subscription. The IPO consists of a fresh issue of Rs 5,500 crore and an offer for sale of 8.4 crore shares.
Ola Electric IPO gets steady response on Day 1. What top brokerages have to say
Ola Electric, supported by government incentives and a scalable business model, is poised to capitalise on India's growing electric vehicle market and expand globally. Despite facing profitability issues and valuation concerns, analysts suggest a "subscribe" rating for risk-tolerant investors with a long-term perspective.
Ola Electric IPO: Issue subscribed 35%, retail portion at 157% on Day 1. Check GMP and other details
Ola Electric's IPO saw 27% so far on the first day, driven by retail investors. With a fresh issue of Rs 5,500 crore, founder Bhavish Aggarwal will sell 37.9 million shares. Analysts are positive about the IPO due to Ola's market leadership in electric two-wheelers in India. The price band is set between Rs 72-76 per share.
Ola Electric IPO opens. Should you subscribe to the biggest issue this year?
Ola Electric's initial public offering opens on August 1, 2023, featuring a fresh equity sale of Rs 5,500 crore and an offer for sale of 8.4 crore shares. Analysts recommended subscribing due to Ola's market leadership in electric two-wheelers. The IPO price band was set at Rs 72-76 per share. The issue closes on August 6, 2023.
Ola Electric IPO opens tomorrow. Here's what GMP signals ahead of issue launch
The company has lowered the pricing for the public offer to attract more investors. At the upper end of the price band, the post-issue market valuation comes to around Rs 33,522 crore.
Two early Ola Electric investors to reap up to 824% returns in biggest IPO this year
Ola Electric IPO Latest News: Tiger Global, through its arm Internet Fund Pte, has acquired the shares at Rs 11.70 and will get around 549% return on investment through the IPO. The PE firm is selling about 63.6 lakh shares under the OFS and is likely to make a profit of Rs 49 crore.
Ola Electric IPO opens on August 2: 10 key points for investors
Ola Electric, backed by SoftBank, set to open its IPO for retail subscription on August 2 to raise Rs 5,500 crore, marking India's first EV startup IPO.
Ola Electric plans to make D-Street debut on August 2
Indian electric scooter maker Ola Electric's initial public offering will open for retail subscription on Friday, the company said in a filing with the stock market regulator on Saturday. The Bhavish Aggarwal-led electric vehicle firm is expected to raise Rs 5,500 crore in fresh capital via the IPO, apart from the offer-for-sale (OFS) component.
Ola Electric IPO pricing likely at about 25% lower than private valuation of $5.4 billion: sources
Ola Electric IPO valuation is likely at $4 billion, down 25% from $5.4 billion in last funding round The IPO seeks Rs 5,500 crore through a fresh issue and 95.2 million shares offer-for-sale. Initially targeting $6-7 billion, the valuation was adjusted to entice investors for post-issue profit.
Ola Electric IPO: All about the first EV startup IPO in India
Ola Electric, a Bengaluru-based EV startup, receives Sebi approval for IPO, marking a milestone in Indian EV industry. Founder Bhavish Aggarwal informed employees about the regulatory green light.
Ola Electric expected to file IPO papers today, first Indian EV company to do so
Ola Electric IPO: Softbank-backed Ola Electric will file for IPO in next few hours with company's top management and bankers busy finalising details, ET Now reported, quoting sources. Kotak is the lead banker to Ola Electric while Goldman Sachs and Citi have also been appointed to handle the issue.
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