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.