A retail investor who got Ola Electric shares allotted asked Reddit users what to do with the investment after saying it might not be a smart choice.

What Happened: The user Klutzy-Cod-5852 on the subreddit IndianStreetBets, asked for advice on what to do with the investment.

“Applied for this IPO after listening to a friend. Realised it wasn’t a smart choice since there is a possibility it can be listed at a discount.

What shall I do next? Hold it for a long time for it to go up or sell it with a loss?”, the user wrote.

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The user got one lot of shares, which comprises 195 shares at an average price of ₹76.

Some users suggested the investment would not work out and suggested the original poster to sell the shares immediately. When a person said not all IPOs go green, some go red, the original user replied “Yeah. Wasn’t aware of that. All I thought about was ‘all IPOs are listed at a premium’. A note to self would be not to be so Naive and do my own research.”

Ola Electric IPO which closed its subscription on August 6, saw its issues getting subscribed 4.27 times. On August 8, Ola’s grey market premium (GMP) fell to negative ₹3, indicating that the stock could list at ₹73 when it lists for trading on exchanges on Friday.

However, it’s crucial to note that while GMPs can provide some insight into market sentiment towards an IPO, they should not be considered as the sole indicator of the stock’s performance upon listing.

Ola’s public issue was priced at ₹72 to ₹76 per share.

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