As per the BSE data, the IPO received cumulative bids for 49,43,85,840 (49.43 Cr) as against a total offering of 46,51,59,451 (46.51 Cr) shares.
Notably, the IPO bidding had the maximum interest from its employees with the employee-reserved portion receiving an 8.9X subscription. The employees placed bids for 75.97 Lakh against 8.46 Lakh shares on offer.
Qualified institutional buyers (QIBs) seemed most averse to the public issue on the day. QIBs bid for just 10.2 Cr shares versus 25.22 Cr shares reserved for them, marking a subscription of just 40%.
The initial public offering (IPO) of electric vehicle maker Ola Electric was fully subscribed on the second day of the bidding today (August 5), witnessing a modest response with the issue getting oversubscribed 1.06 times.
As per the BSE data, the IPO received cumulative bids for 49,43,85,840 (49.43 Cr) as against a total offering of 46,51,59,451 (46.51 Cr) shares.