Ola Electric finally made it to the Share Market. On Friday, it’s shares were listed at their issue price. In contrast to its issue price of ₹76 per share, Ola Electric’s share price initially opened at ₹76 on the NSE. Ola Electric shares were listed for ₹75.99 per share on the BSE, with a 0.01% discount. The company held its IPO between August 2nd to August 6th. The shares are also listed on both BSE and NSE Stock exchanges.
The market’s outlook may be responsible for Ola Electric shares listing much above street forecasts despite demand being far lower than expected. If you are a risk taker then you can take the Ola Electric shares and hold it for 2-3 years.
“Post listing the short-term view remains the same due to weak financials and risk of negative cash flows in future and allotted investors should understand the risk before holding which could adversely impact its consolidated financial condition post listing. Considering all the factors, we advise only risk taking investors to continue to hold Ola Electric shares with a minimum holding period of 2-3 years”, said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Read Also – Ola Electric Share Price Target From 2024 to 2030
Tapse advised risk-taking investors to build up their holdings at each decline, accumulating them over the course of two to three years, if Ola Electric shares are available for far less than their issue price. He continued, “We may see a lot of ups and downs in the short term, but the long term story is intact.”
After being listed on public exchanges, Ola Electric’s share price increased by more than 17%, getting close to its 20% upper circuit level. After listing at par with its issue price of ₹76 per share, Ola Electric shares surged 17.7% to a high of ₹89.50 apiece on the NSE. Ola stock jumped 17.4% to ₹89.25 per share on the BSE.
Read Also – Ola Electric IPO Date, Price, GMP, Review
