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Ola Electric Shares Fall Over 4% As One Month Lock-In Period Ends

Inc42 · 10m ago

Ola Electric Shares Fall Over 4% As One Month Lock-In Period Ends

The shares of Ola Electric, led by Bhavish Aggarwal, experienced a 4% drop during intraday trading on the BSE. This decline follows a significant rally that saw the stock reach a record high of INR 157.53 on August 20. Ola Electric's public issue was oversubscribed 4.27 times, with qualified institutional buyers showing the most interest.

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MobiKwik Shares Crash 10% As Lock-In Period Ends

Inc42 · 1m ago

MobiKwik Shares Crash 10% As Lock-In Period Ends

MobiKwik shares dropped nearly 10%, reaching INR 243, as the lock-in period for pre-IPO shareholders ended, with 3.8 crore shares becoming eligible for trading. This decline follows a previous four-session fall after the finance ministry dismissed rumors about imposing MDR on UPI transactions. Consequently, MobiKwik’s stock decreased almost 12% from its IPO issue price of INR 279. Additionally, the company’s net loss surged to INR 56.03 crore in Q4 FY25.

Ola Electric, Mobikwik shares fall sharply amid stock market’s bear run

Economic Times

Economic Times · 4m ago

Ola Electric, Mobikwik shares fall sharply amid stock market’s bear run

Amid a bearish trend on Dalal Street, new-age stocks like Mobikwik and Ola Electric have seen significant declines. Mobikwik's shares dropped due to the expiration of a lock-in period, falling 61% from its post-listing high. Ola Electric faced a record low amid insolvency petitions, with its stock price plummeting 60% over six months. The challenging stock market climate has been harsh on recent IPOs, affecting several tech companies' public offering prospects.

Two-wheeler EV sales rise 12% as Ola Electric sees festive surge

Economic Times

Economic Times · 1y ago

Two-wheeler EV sales rise 12% as Ola Electric sees festive surge

In October, sales of electric two-wheelers in India increased by 12%, with Ola Electric leading the market by capturing nearly one-third of the sales. Ola Electric sold 22,284 vehicles in October, while Ather Energy sold 8,025 vehicles. Overall, the sales of two-wheeler EVs for the month totaled 70,678 units. The government's transportation portal Vahan reported these figures, but Ola Electric claimed to have sold around 24,000 units during the same period. The sales surge can be attributed to strong demand during Navratri and Dussehra festivals.

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

VCCircle

VCCircle · 12m ago

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

Ola Electric, backed by SoftBank, received over $2 billion in bids from big institutions ahead of its initial public offering (IPO). The IPO aims to raise $734 million and has already allocated shares to institutions such as Nomura, Norges Bank, SBI Mutual Funds, and HDFC Mutual Funds. Ola Electric plans to sell shares in the range of 72-76 rupees, targeting a valuation of $4 billion. The IPO is set to open for retail investors and eligible employees on Friday and close on Tuesday.

Zomato Shares Surge More Than 5% Amidst Reports of Block Deal Activity

Inc42 · 1y ago

Zomato Shares Surge More Than 5% Amidst Reports of Block Deal Activity

After the lock-in period ended, Zomato's Blinkit deal shares were made available for trading. 18.4 crore shares were traded within INR 92.20 to INR 94.00. Investors like SoftBank, Tiger Global, and Peak XV were under the lock-in period. SoftBank holds a 3.55% stake, receiving shares from the Blinkit deal. Zomato shares rose over 5.5% to INR 96. The foodtech company achieved profitability in Q1 FY24. It expanded platform fees and increased charges to enhance profitability.

Ola Electric sees record registrations in March; ends FY24 with 115% growth on year

Economic Times

Economic Times · 1y ago

Ola Electric sees record registrations in March; ends FY24 with 115% growth on year

Electric scooter manufacturer Ola Electric has announced a record-breaking 53,000 registrations in March, marking its highest monthly volumes for the fifth consecutive month. The company remains a market leader with 328,785 units registered in FY24, more than double the volumes of the previous fiscal year. Ola Electric is heading for an IPO and has raised significant funding through non-convertible debentures and debt financing. The company is also expanding its product offerings, including launching an electric autorickshaw and working towards manufacturing its own battery cells.

Ola Electric has sent a strong response to MapMyIndia, says Bhavish Aggarwal

YourStory

YourStory · 11m ago

Ola Electric has sent a strong response to MapMyIndia, says Bhavish Aggarwal

Ola Electric has responded to MapMyIndia's accusations of data misappropriation as "opportunistic." Ola CEO Bhavish Aggarwal stated that MapMyIndia's claims were strategically timed around Ola Electric's IPO. Aggarwal dismissed the allegations, as Ola Electric is not in the mapping business. Last month, CE Info Systems, MapMyIndia's parent company, accused Ola of illegally copying data from one of its clients. In other news, Ola Cabs has rebranded as Ola Consumer, launched a loyalty program called Ola Coin, and reintroduced ride-sharing services to enhance its position in the competitive ride-hailing market.

Two-Wheeler EV Registrations Surge 34% MoM To Cross 1 Lakh Units Mark In July

Inc42 · 12m ago

Two-Wheeler EV Registrations Surge 34% MoM To Cross 1 Lakh Units Mark In July

Ola Electric's vehicle registrations increased by 13% month-on-month to reach 41,597 units, representing 40% of the total two-wheeler electric vehicle registrations in July. Ather Energy experienced a significant 63% monthly increase in registrations, while TVS Motor saw a rise of 39% in the same period. Other electric vehicle makers such as Pure EV, River, Revolt, Oben Electric, and Ultraviolette also observed growth in registration volumes.

Ola Electric introduces Ola Maps with upgraded EV software move OS 4

Inc42 · 1y ago

Ola Electric introduces Ola Maps with upgraded EV software move OS 4

Ola Electric has commercially launched its in-house Ola Maps with the rollout of the Move OS 4 software platform for its electric two-wheelers. The upgraded software offers improved navigation with a faster search function and enhanced routing. Users can personalize their navigation experience by designating favorite locations and even locate their scooter through the Ola Electric app. Move OS 4 also introduces over 100 features and improvements, including Cruise Control and Hill Descent Control. Ola Electric recently filed for an IPO to raise over INR 5,500 Cr.

Why did Ola Electric shares dip 5% on Wednesday?

Inshorts · 6m ago

Why did Ola Electric shares dip 5% on Wednesday?

Ola Electric shares dropped 5% on Wednesday after SEBI sent an administrative warning over violations with respect to disclosures made to exchanges. Last month, Ola CMD Bhavish Aggarwal revealed plans for a four-fold expansion of the company's store network on social media before informing exchanges. "You've failed to provide equal and timely access to information for all investors," SEBI said.

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