Ola Electric Shares Fall Over 4% As One Month Lock-In Period Ends

Ola Electric Shares Fall Over 4% As One Month Lock-In Period Ends

SUMMARY

The shares of the Bhavish Aggarwal-led Ola Electric plunged as much as 4% to INR 105.10 apiece during the intraday trading session on the BSE

The shares of the company witnessed a huge rally. The stock hit a record high of INR 157.53 on August 20

The company’s public issue was oversubscribed 4.27X, with the strongest interest received from qualified institutional buyers (QIBs)

Shares of Bhavish Aggarwal-led Ola Electric plunged as much as 4% to INR 105.10 apiece during the intraday trading session on the BSE today (September 9) as its one-month share lock-in period ended today.

Following the expiration of the lock-in period, around 18.18 Cr shares, or 4% of the company’s outstanding equity, will become eligible for trading, according to a note from Nuvama Alternative and Quantitative Research. 

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