Ola Electric’s IPO achieved 64% subscription on the second bidding day. Retail investor interest was significant, with 2.43 times subscription. Analysts suggested subscribing due to Ola’s market position. The company secured over Rs 2,700 crore from anchor investors like HDFC and SBI Mutual Fund. Founder Bhavish Aggarwal will offload 37.9 million shares.
Ahead of Market: 10 things that will decide stock market action on Thursday
The Indian market closed flat on Tuesday, ahead of the Christmas holiday, with gains in FMCG and auto stocks being offset by losses in metal