Shares of Ola Electric Mobility Ltd. declined to over three-week low on Monday, as anchor investors are set to sell shares. In the first round of share sale, anchor investors will release 18.17 crore shares or 4.08% of its total equity.
Anchor investors are required to hold stake for a minimum of 30 days. They can sell up to 50% of their current holding. The next round of anchor book is available for sale on Nov. 8.
Ola Electric Mobility stock listed flat on Aug. 9, compared to an issue price of Rs 76 apiece. On the listing day, the stock ended 20% higher at Rs 91.2 apiece on the National Stock Exchange.
Read More: Ola Electric Mobility Share Price Hits Three-Week Low As Anchor Investors
