Recently OLA has launched it's IPO. Ola is one of the known company in India where they are competing with UBER in the mobility section whereas it is also competing in the 2 Wheeler Electric Vehicle segment. And since the EV is the future, Ola is supposedly should be doing good.
When the OLA Ipo came, the market sentiments were not that great and that's why the GMP or Grey Market Premium of the OLA has come down to even 0. That means the price of the opening price vs the actual price was same. And when it lists, it listed with the 0 premium itself.
But after that in some hours time, it has hit the 20% Upper Circuit mark.
PC: Groww.com
So even though the GMP was not good, it has given a good return as per the IPO price on the same day of the listing. So that's why I am regretting on not buying it on the day or even not subscribing to the issue. See the EV is the future, with the growing population natural resource will become scarce as the time progress. Not today but 10 years down the line you will se more than 50% of the vehicle being am EV.
So the EV stock marlet segment will surely have an upper edge in coming years. And that's why having some exposure to the company doing electric vehicle is actually good. And that's why having a OLA share was worth it.
Now with the price increasing, I will surely wait for the correction and might buy it once I get it below 90 might be. I am hoping for s all correction in the coming days to even months and that's why I am actually saving money for that time. I am not deploying any new money other than the ETF investing. The cash is the king at this time of volatility.
