Ola Electric surges 20% to hit upper circuit on listing day

The market capitalisaation of the company at today’s closing price stood at Rs 40,217.95 crore as per BSE and Rs 40,226.77 crore as per NSE.

Autocar Professional BureauBy Autocar Professional Bureau calendar 09 Aug 2024 Views icon3874 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Ola Electric surges 20% to hit upper circuit on listing day

Shares of OIa Electric touched 20% upper circuit on the exchange on today's listing. The company's share price closed at Rs 91.18 per share on the BSE, a 19.97% premium, and at Rs 91.20 per share on the NSE, a 20% premium.

As per NSE, the total quantity traded stood at 5245.21 lakh shares, on BSE the total Quantity stood at 475.83 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 4821.91 crore.

The market capitalisaation of the company at today’s closing price stood at Rs 40,217.95 crore as per BSE and Rs 40,226.77 crore as per NSE.

Bhavish Aggarwal, CMD, Ola Electric Mobility Ltd Said at the Listing Ceremony “While entrepreneurs often receive the spotlight, it is the dedicated team and their supportive families who truly deserve the credit.”

Ola Electric manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory. Its business focuses on capturing the opportunity arising out of electrification of mobility in India and also to export its EVs in select international markets in the future.

Ola has a Futurefactory, Gigafactory and a Battery Innovation Centre in Bengaluru, whereas it is in the process of building its EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer.

RELATED ARTICLES
Mercedes-AMG Plans to Discontinue Four-Cylinder Plug-In Hybrid Powertrain

auther Autocar India calendar07 Jul 2025

The 680hp, 1,020Nm powertrain "failed to resonate" with Mercedes-AMG's customers.

JLR Reports Lower Q1 FY26 Sales as Legacy Jaguar Models Phase Out and US Tariffs Take Effect

auther Sarthak Mahajan calendar07 Jul 2025

Range Rover, Range Rover Sport, and Defender models made up over 77% of wholesale volumes in Q1 FY26, even as total sale...

Škoda Auto Volkswagen India to Oversee Bentley Operations in India from July 2025

auther Sarthak Mahajan calendar07 Jul 2025

Bentley India to function under SAVWIPL with new dealerships in Bengaluru, Mumbai, and New Delhi; Abbey Thomas appointed...