Team Ola at the listing ceremony held at the National Stock Exchange (NSE) on 9th August 2024, Friday
Ola Electric Surges 20% To Hit Upper Circuit on Listing Day
Mumbai, August 9, 2024 (GNI: Shares of Pure Play EV player, Ola Electric Mobility Limited touched the 20% upper circuit on the exchange on listing day.
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 Capitalization 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”.
He expressed deep gratitude to his own family, particularly his wife, for their unwavering support, and acknowledged his mentor, TVG, for guiding him over the past 12 years.
Reflecting on the company’s rapid growth and success in leading India’s EV revolution, Bhavish noted that while their hard work and achievements are significant, the day was not merely about celebrating past accomplishments. Instead, he underscored the importance of drawing inspiration from their journey and embracing the responsibility of being custodians of public money. He urged everyone to remember the sense of purpose they felt on this day, as the journey toward building the India of their dreams continues.
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. It commenced the delivery of its first EV model, the Ola S1 Pro, in December 2021, followed by delivery of Ola S1 in September 2022, the Ola S1 Air in August 2023 and the Ola S1 X+ in December 2023.
Within nine months of delivering its first EV scooter in December 2021, it became the best-selling E2W brand in India in terms of monthly E2W registrations on the VAHAN Portal of Ministry of Road Transport and Highways (“VAHAN”) according to the Redseer Report.
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.ends GNI
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