Ola Electric shares made a stable debut on August 9, listing at ₹76 on the National Stock Exchange (NSE), matching the issue price. This flat start marked the company’s entrance into the public market, setting the stage for future trading activities..
However, after the initial listing, Ola Electric shares experienced a significant rally. By August 20, the stock surged to a record high of ₹157.53, reflecting strong investor confidence and heightened market interest in the company’s growth prospects.
The company’s initial public offering (IPO) was priced at ₹72-₹76 per share and was oversubscribed by 4.27 times. Ola Electric shares garnered substantial demand, highlighting the market’s positive reception and the attractiveness of the investment opportunity presented by the electric vehicle maker.
On September 17, Ola Electric shares hit the 10% upper circuit limit at ₹118.40 on the BSE, driven by reports of coverage initiation from two major global brokerages. This surge pushed the market capitalization to approximately ₹52,200 crore, underscoring the stock’s robust performance.
The IPO included a fresh issue of up to ₹5,500 crore and an offer-for-sale (OFS) of up to 8,49,41,997 equity shares. With the lock-in period ending on September 9, Ola Electric shares continue to attract significant investor interest, positioning the company for a strong presence in the stock market.
