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Ola Electric shares surge 12% to Rs 87.57 on BSE debut

Economic Times

Economic Times · 1y ago

Ola Electric shares surge 12% to Rs 87.57 on BSE debut

Shares of Ola Electric are trading nearly 18.6% higher on the BSE at Rs 90.17 following its lacklustre debut on the stock exchanges. The company's market capitalisation stands at Rs 39,648.95 crore. The IPO was subscribed 4.26 times, with the retail individual investors' category being subscribed 3.85 times. Founder Bhavish Aggarwal sold 37.9 million shares as part of the offer for sale (OFS). Kotak Mahindra Capital Company, Bofa Securities India, Axis Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs Securities, ICICI Securities, and Bob Capital Markets managed the issue.

Related News

Ola Electric shares rally 20% to touch fresh high

Inshorts · 1y ago

Ola Electric shares rally 20% to touch fresh high

After flat market debut last week, Ola Electric’s shares have continued to rally. On Monday (August 12), the shares of Ola Electric touched a fresh high of INR 109.41 on BSE, 20% higher compared to its previous close. The total market cap of the company stands at INR 48,258.89 Cr for the day.

Bhavish Aggarwal compares Ola's upcoming IPO with that of Maruti's 20 years ago

Economic Times

Economic Times · 1y ago

Bhavish Aggarwal compares Ola's upcoming IPO with that of Maruti's 20 years ago

Bhavish Aggarwal, CEO of Ola, likened the upcoming IPO of Ola Electric to Maruti Suzuki's transformative market debut. Aggarwal stated that Ola Electric has submitted the final observations for its IPO, with SEBI's approval granting it the ability to issue shares worth Rs 5,500 crore and a follow-on-offer (OFS) worth Rs 1,750 crore, totaling a Rs 7,250 crore IPO size. The IPO is currently undergoing regulatory processes, and Aggarwal expects final approval and completion by the end of the year. Ola Electric's IPO is anticipated to be one of the most significant in India's tech-driven economic landscape.

Ola Electric hits fresh all-time low at ₹50.81 on Tuesday

Inshorts · 5m ago

Ola Electric hits fresh all-time low at ₹50.81 on Tuesday

Shares of Ola Electric fell for the third straight session on Tuesday, dipping as much as 5.5% to reach an all-time low at ₹50.81 on the BSE. The stock was trading at ₹51.41, down 4.4% from the previous close of ₹53.80. Ola Electric market capitalisation stood at ₹22,693.72 crore.

Ola Electric shares surge nearly 16%

YourStory

YourStory · 1y ago

Ola Electric shares surge nearly 16%

Shares of Ola Electric Mobility surged nearly 16% after the company announced its entry into the electric motorcycle segment with the launch of three models. The stock price jumped to Rs 128.09 on the BSE. Ola Electric Mobility reported a jump in revenue for the April-June quarter and announced partnerships and new ventures. Ola plans to bring its indigenously designed and developed family of chips for AI and general computing to the market by 2026. The company also showcased its new Gen-3 platform for two-wheelers and plans to integrate its own batteries with its vehicles from Q1 FY26.

Ola Electric Hits 20% Upper Circuit After Venturing Into E-Bike Space

Inc42 · 1y ago

Ola Electric Hits 20% Upper Circuit After Venturing Into E-Bike Space

Ola Electric's shares surged by nearly 20% to reach a 52-week high of INR 132.76 after unveiling its electric motorcycle portfolio 'The Roadster Series'. This comes as new players like Ultraviolette, EMotorad, Motovolt, and Toutche Electric enter the electric bike market. At 12:07 PM, Ola Electric shares were trading at INR 129.03.

Ola Electric Hits Fresh All-Time Low Amid Broader Market Slump

Inc42 · 2m ago

Ola Electric Hits Fresh All-Time Low Amid Broader Market Slump

Shares of Ola Electric fell to a new all-time low of INR 43.15 on the BSE, slipping 6.3% today amid broader market declines and negative sentiments regarding geopolitical tensions. The stock slightly regained ground to close 5.93% lower at INR 43.32. This downturn continues a losing trend for Ola Electric, which also saw a 1.9% drop the previous week. The company's shares are part of a larger slump amid global uncertainty.

VIL, Ola Electric shares lead NSE volumes; BSE, MobiKwik, Tanla Platforms jump up to 15% on high turnover

Business Today

Business Today · 5m ago

Stocks with high trading volumes on the NSE included Vodafone Idea, Ola Electric, JP Power, YES Bank, Tata Steel, MobiKwik, and Suzlon. BSE led in turnover with Rs 1,378 crore. Other notable turnovers included MobiKwik, Zomato, Mazagon Dock, and Tata Steel. Price changes: Vodafone Idea at Rs 7.43, Ola Electric at Rs 54.50, JP Power at Rs 14.77, YES Bank at Rs 16.92, Tata Steel at Rs 158.25, MobiKwik at Rs 337.55, and Suzlon at Rs 56.85.

Hyundai, Kia sell shares worth Rs 690 crore in Ola Electric via bulk deal

Economic Times

Economic Times · 2m ago

Hyundai, Kia sell shares worth Rs 690 crore in Ola Electric via bulk deal

Hyundai Motor and Kia Corporation sold shares worth approximately Rs 690 crore in Ola Electric through open market transactions. Hyundai sold 10.8 crore shares at Rs 50.7 each, totaling Rs 551.9 crore, and Kia sold 2.7 crore shares at Rs 50.5 each, amounting to Rs 137.3 crore. During the same session, Citigroup, a US investment bank, acquired shares worth Rs 435.4 crore in Ola Electric.

Ola Electric Shares Fall 6% Intraday, Marking Loss For Three Straight Sessions

Inc42 · 1y ago

Ola Electric Shares Fall 6% Intraday, Marking Loss For Three Straight Sessions

Shares of Ola Electric, led by Bhavish Aggarwal, fell by as much as 6% during intraday trading on the BSE. This marks the third consecutive session of losses for the company's stock. As of 1:25 PM, the stock was trading at INR 120.90, a 4.2% drop from its previous close of INR 126.21 on Friday. Ola Electric currently has a market capitalization of INR 53,675 Cr.

Ola Electric’s Secretary and Compliance Officer Pramendra Tomar resigns

YourStory

YourStory · 11m ago

Ola Electric’s Secretary and Compliance Officer Pramendra Tomar resigns

- Pramendra Tomar, secretary and compliance officer of Ola Electric, has resigned citing personal reasons and commitments. - The resignation is effective from October 1, according to a BSE filing. - Ola Electric is in the process of appointing a new candidate for the position of company secretary. - Tomar joined Ola Electric in 2022 and has considerable experience as a corporate lawyer and in company secretarial positions. - Ola Electric's shares have been struggling at the stock exchanges, with the price dropping below Rs 100 on Monday but regaining some ground on Tuesday. - The company reported a second straight month of sales drop in September, while competitors such as Ather Energy, TVS Motor, and Bajaj Auto saw sales numbers rise. - Ola Electric has been facing numerous complaints about its vehicles, and it has created a new service team to address these issues. - In September, Ola Electric introduced the 'Network Partner Program' to expand its sales and service networks across India and onboard 10,000 partners by 2025. - Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric (Disclaimer).

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