Ola Electric surges in India's biggest IPO in few years!

Team S · 2024-08-09T06:42:35.000Z

Ola Electric, India's largest electric two-wheeler manufacturer, experienced a significant share price increase of up to 20% on its public debut, marking the largest listing among Indian firms in two years. The company's shares opened at ₹76, the upper end of its IPO price range, and peaked at ₹91.18, giving it a market capitalization of approximately $4.75 billion. Despite this success, Ola Electric's valuation at IPO was 26% lower than its previous funding round in October 2023. The company holds 46% market share in India's electric two-wheeler sector, having sold over 330,000 units since launching its first scooter in December 2021.

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Ola Electric surges in India's biggest IPO in few years! | Newnex