Ola Electric Mobility’s shares had a strong debut on the stock exchange today. Despite listing at the issue price of ₹76, the stock quickly surged by over 17%, reaching a high of ₹87.43 on the NSE within minutes of becoming available for public trading.
IPO Overview
- Issue Price: ₹76
- Listing Price: ₹76
- High on First Day: ₹87.43
- Current Price: ₹88.94 (as of 11:15 AM)
IPO Details
- Total Amount Raised: ₹6,146 crore
- Subscription Rate: 4.26 times
- Anchor Investors: Nomura, HDFC Mutual Fund, SBI Mutual Fund
The IPO, which closed on August 6, had received a lukewarm response compared to market expectations. Despite the initial underwhelming subscription, the stock’s price jump reflects positive investor sentiment and strong market interest.
As of 11:15 AM, Ola Electric’s shares were trading 17.02% higher at ₹88.94, indicating a strong start for the company in the public market.
TOPICS:
Ola Electric IPO