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Ola Electric shares surge 90% post-debut to hit $7 billion value

Economic Times

Economic Times · 10m ago

Ola Electric shares surge 90% post-debut to hit $7 billion value

Ola Electric Mobility Ltd.'s shares have surged by nearly 90% in less than two weeks, boosting its market capitalization to over $7 billion. The strong investor demand in India's hot IPO market has helped founder Bhavish Aggarwal reach his target valuation sooner than expected. Investor belief in India's electric vehicle story and the gush of domestic liquidity are driving investors to seek exposure to the EV sector. Ola's successful IPO follows the rally of other new technology businesses in India, including Zomato and PB Fintech. Ola reported widened losses of 15.9 billion rupees for the financial year.

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Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion

Economic Times

Economic Times · 11m ago

Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion

SoftBank's stakes in Ola Electric, FirstCry, and Unicommerce have soared in value to nearly $2 billion, thanks to their post-listing gains. SoftBank has already realized around $400 million in secondary stake sales. The firm's investments in FirstCry and Ola Electric have paid off, with FirstCry's market capitalization exceeding Rs 35,000 crore, and Ola Electric's shares surging 71% since its listing. SoftBank's stake in FirstCry is now valued at over Rs 7,000 crore, while its stake in Ola Electric is worth more than Rs 8,500 crore. The investor has fully exited its holdings in Paytm, Zomato, Policybazaar, and Delhivery.

Cab-hailing firm Ola Consumer gets another valuation cut

VCCircle

VCCircle · 8m ago

Cab-hailing firm Ola Consumer gets another valuation cut

Cab-hailing firm Ola Consumer is facing another valuation cut as an existing investor, Vanguard, has revised its fair value estimate downwards by about 15%. This comes after Vanguard slashed Ola's valuation to just under $2 billion last year. Ola has experienced significant fluctuations in valuation over the past four years and is now worth roughly half of its group firm, Ola Electric. The COVID-19 pandemic hit Ola hard, with revenue plunging about 95% as lockdown measures curbed travel demand. Ola Consumer is reportedly planning an IPO following in the footsteps of Ola Electric.

Ola Electric worth investing in: HSBC as it sets ₹140 target price

Internet

Internet · 11m ago

Ola Electric worth investing in: HSBC as it sets ₹140 target price

HSBC Global Research said Ola Electric Mobility is "worth investing in" given its ability to reduce costs and a positive risk-reward in its battery venture. Giving a 'buy' rating to the company, HSBC set a price target of ₹140 for its shares. Ola Electric's market cap surged close to $7 billion on Friday after its shares jumped 20%.

Ola Electric: Rapid acceleration, but a journey paved with roadblocks

Livemint

Livemint · 1y ago

Ola Electric: Rapid acceleration, but a journey paved with roadblocks

Ola Electric, India's first purely electric vehicle manufacturer to file for an IPO, dominates the electric two-wheeler market with a 32.6% share. In fiscal year 2022-23, Ola Electric reported a seven-fold surge in volumes, selling over 156,000 scooters. However, the company is looking to raise ₹5,500 crore in its IPO, targeting a steep valuation of $7-8 billion. Challenges in employee attrition, reduced subsidies, inadequate charging infrastructure, and competition from auto giants pose potential obstacles to its growth. Ola Electric has already slashed its sales goals and delayed its profitability target, raising concerns about its lofty valuations.

Ola Electric shares rally 20% to touch fresh high

Inshorts · 11m 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.

Ola Electric Teases Launch Of Electric Bike On August 15

Inc42 · 11m ago

Ola Electric Teases Launch Of Electric Bike On August 15

EV startup, Ola Electric, hinted at the launch of an electric bike during its annual event on August 15. In a video shared on social media, the company teased the rough sketch and silhouette of the upcoming ebike model. Recently, shares of Ola Electric listed on exchanges, and after a lukewarm start, jumped 20% to hit the upper circuit.

₹11,000 cr wiped off Ola Electric's m-cap days after stock doubled investor wealth

Inshorts · 10m ago

₹11,000 cr wiped off Ola Electric's m-cap days after stock doubled investor wealth

Around ₹11,000 crore was erased from the market value of Ola Electric after its stock declined by 22% in the last five trading sessions. The stock has been on a downtrend since it doubled investors' wealth after hitting a record high of ₹157.53 on August 20. The company made market debut after issuing shares at ₹76 apiece through its IPO.

Ola Electric: Cutting the noise and next steps

Livemint

Livemint · 9m ago

Ola Electric: Cutting the noise and next steps

Ola Electric, an electric mobility company, has been facing challenges lately. Despite a strong stock market debut, the company's stock price took a hit due to rising consumer complaints about their e-scooters. Social media played a role in amplifying these complaints and putting pressure on the company. Ola Electric has also been issued a show cause notice by the Central Consumer Protection Authority for alleged violations. The company needs to address these issues, improve after-sales service, and regain customer trust to succeed in the competitive electric vehicle market.

Ola Electric IPO: Founder Bhavish Aggarwal to sell 47.4 million shares

Livemint

Livemint · 1y ago

Ola Electric IPO: Founder Bhavish Aggarwal to sell 47.4 million shares

Bhavish Aggarwal, the founder of Ola Electric, plans to sell around 47.4 million shares in the e-scooter maker. Ola Electric has filed preliminary draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO includes a fresh equity share release of up to ₹5,500 crore and an offer for sale of 95,191,195 equity shares. The company aims for a valuation of $7-8 billion by early 2024. The funds raised will be used for various purposes, including a Gigafactory project and research and development investments.

Ola Electric shares hit 20% upper circuit on affordable EV scooter launch and Citi's 'Buy' call

Economic Times

Economic Times · 7m ago

Ola Electric shares hit 20% upper circuit on affordable EV scooter launch and Citi's 'Buy' call

Ola Electric shares surged by 20% on the announcement of the launch of two new affordable electric scooters, priced at Rs 39,000, making them the cheapest in Ola's lineup. The scooters, called Ola S1 Z and Gig, are aimed at gig workers and urban commuters, respectively. Ola has already started accepting reservations, with deliveries expected to begin in April 2025. Citi also played a role in boosting Ola Electric's shares by initiating coverage with a 'Buy' rating and a target price of Rs 90.

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