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Ola Electric Share Price: Ola Electric Mobility’s shares dipped 7% as an 18.2 crore share lock-in period ended
Ola
Ola Electric Mobility shares on Tuesday dropped 7 per cent to the day’s low of Rs 75.35 as the three-month lock-in period expired today.
The anchor lock-in period for 50 per cent of Ola Electric Mobility shares, around 18.18 crore or 4 per cent of the company’s outstanding shares, ended on Tuesday, November 5.
The end of the three months’ anchor lock-in period implies that 18.18 crore Ola Electric shares that were locked in by anchor investors are now available for trading in the market. However, it is important to note that the lock-in period expiry does not necessarily imply that all these shares will be sold. These shares are simply eligible for trading.
Earlier, the 30-day anchor lock-in period of Ola Electric Mobility shares expired on September 9.
According to regulations, the shares purchased by anchor investors in the IPO are subject to a lock-in period. A total of 50 per cent shares allotted to anchor investors are locked for 30 days and the remaining 50 per cent for 90 days from the grant date.
In the last one month, the shares of the company went down by 21.54 per cent and by 4.14 per cent in the last two weeks.
Ola Electric Mobility informed that a meeting of the Board of Directors is scheduled to be held on November 08, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2024, along with the Limited Review Report of the Auditors thereon.
Ola Electric IPO was launched on August 2, 2024, and the electric two-wheeler maker had raised Rs 6,145.56 crore from the primary market. A dat ahead of the issue opening, Ola Electric mopped up Rs 2,763 crore from anchor investors by allotting 36.35 crore shares to various domestic and foreign institutions at Rs 76 per share, the upper price band for the IPO.
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