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Ola Electric IPO Listing Price: Electric two-wheeler maker Ola Electric got listed on the stock market today. On the BSE (Bombay Stock Exchange), the company’s shares were listed at Rs 75.99, one paisa less than its issue price of Rs 76. While on the NSE (National Stock Exchange), the company’s shares were listed at the price of Rs 76.
The share prices increased rapidly as soon as it was listed on the market
As soon as the company’s shares were listed in the market, there was a strong buying spree in them, due to which the share price gained tremendous momentum. On Friday, the day of listing, at 11.39 am, Ola Electric shares were trading at Rs 90.49 on the BSE with a gain of Rs 14.50 (19.08%).
The company’s market cap is growing rapidly along with the share price
The market cap of the Bhavish Aggarwal-led electric two-wheeler maker was Rs 36,742.21 crore in early trade. Which increased to Rs 39,940.06 crore at around 11.39 am. Let us tell you that the company currently manufactures and sells 3 different models of Ola Electric, S1 Pro, S1 Air, and S1X.
The IPO opened on August 2 and closed on August 6
Ola Electric Mobility Limited’s Rs 6,145.56 crore IPO opened on August 2 and closed on August 6. Ola Electric’s IPO received a total subscription of 4.5 times. The company had fixed a price band of Rs 72 to Rs 76 for each share under its IPO.
There is competition among investors to buy shares
At the time of writing the news, the number of buyers of Ola Electric shares was much higher than those selling. On the one hand, there was a sell order for only 5,14,775 shares of Ola Electric on BSE, while on the other hand, buyers had placed buy orders to buy 51,03,332 shares.
