Ola Electric Share Price Highlights: Stock hits 20% upper circuit after flat D-street debut; check details

4 min read | Updated on August 12, 2024, 10:23 IST

SUMMARY

Ola Electric share price: Ola Electric IPO was a fresh issue of shares worth ₹5,500 crore and an offer for sale (OFS) of 8.49 crore equity shares. The price band was fixed at ₹72-76 per share.

Established in 2017, Ola Electric Mobility Limited manufactures Electric Vehicles (EVs) and EV components like battery packs, motors, and vehicle frames.

Ola Electric Share Price Live Update at 3:35 pm: Shares of Ola Electric surged by 20% on Friday, reaching the upper circuit limit on their first day of listing.

Ola Electric Share Price Live Update at 2:58 pm: Trade information

Traded volume (Lakhs):
Traded value: ₹4,417.8 crore
Total m-cap: ₹40,226.7 crore

Ola Electric Share Price Live Update at 2:14 pm: Bhavish Aggarwal enters billionaire club

With Ola Electric shares rising 20%, Bhavish Aggarwal, who held 1,36,18,75,240 shares pre-listing was valued at ₹12,420 crore (over $1.5 billion). To know what he said said after Ola Electric listing, CLICK HERE.

Ola Electric Share Price Live Update at 1:35 pm: Trading stats

Current price: ₹91.2 (+20%)
Open: ₹76
High: ₹91.2
Low: ₹76
Total m-cap: ₹40,226.77 crore

Ola Electric Share Price Live Update at 12:50 pm: Shares of Ola Electric Mobility Limited hit 20% upper circuit to trade at ₹91.2 on Friday after listing at par with the issue price of ₹76.

Ola Electric Share Price Live Update at 12:02 pm: The total market capitalisation of Ola Electric Mobility Limited stands at ₹39,626.9 crore.

Ola Electric Share Price Live Update at 11:35 am: Trading stats

Current price: ₹90.7 (+19.4%)
Open: ₹76
High: ₹90.8
Low: ₹76

Ola Electric IPO Listing Live Update at 11:01 am: Shares of electric two-wheeler company Ola Electric jumped 17.2% after the listing. On the NSE, shares of the firm listed at par with the issue price of ₹76.

Ola Electric IPO Listing Live Update at 10:28 am: Trading stats

Current price: ₹86.6 (+14%)
Open: ₹76
High: ₹87
Low: ₹76

Ola Electric IPO Listing Live Update at 10:08 am: Following the listing, Ola Electric shares rose 6.1% to trade at ₹80.6 on the NSE.

Ola Electric IPO Listing Live Update at 10:00 am: Ola Electric Mobility shares made a flat debut, listing at ₹76 on the National Stock Exchange. The stock opened at ₹75.99, down 0.01%, on the BSE.

Ola Electric IPO Listing Live Update at 9:33 am: Shares of Ola Electric Mobility Ltd will list on the NSE and BSE at 10 am today.

Ola Electric IPO Listing Live Update at 9:11 am: How will the EV maker use the funds?

For Ola Electric, the initial share sale will provide the impetus to invest in expanding cell manufacturing capacity and research and development (R&D) on future technologies and products.

Ola Electric Mobility Ltd (OEML) plans to use ₹1,227.6 crore on capacity expansion of its cell manufacturing plant. The company will utilise ₹1,600 crore on R&D, ₹800 crore will be deployed to repay debts and ₹350 crore for organic growth initiatives.

In its IPO documents, OEML said the Phase 1 (a) and Phase 1 (b) of the set up and expansion of the Ola Gigafactory at Krishnagiri district in Tamil Nadu will be funded from internal accruals and long-term borrowings availed by its arm Ola Cell Technologies Pvt Ltd (OCT).

The company said a part of the proceeds will be used for capital expenditure to be incurred by OCT for expansion of the capacity of cell manufacturing plant from 5 GWh to 6.4 GW

Ola Electric IPO Listing Live Update at 8:32 am: Shares of Ola Electric will debut on stock exchanges—the National Stock Exchange and the BSE—on Friday, August 9, at 10 am.

Ola Electric IPO Listing LIVE: Ola Electric Mobility IPO got subscribed 4.27 times during the three-day bidding window from August 2 to August 6. It received bids for over 198 crore shares as against 46.51 crore shares on offer.

The qualified institutional buyers (QIBs) category fetched 5.31 times the subscription while the quota for retail investors garnered 3.92 times the subscription. The part reserved for non-institutional investors (NIIs) got 2.40 times subscription.

The IPO was a fresh issue of shares worth ₹5,500 crore and an offer for sale (OFS) of 8.49 crore equity shares. The price band was fixed at ₹72-76 per share.

Under the OFS, Ola Electric founder and CEO Bhavish Aggarwal is divesting around 3.8 crore shares.

Prior to the IPO, the company had raised ₹2,763 crore in the anchor round from investors including SBI Mutual Fund (MF), Nippon India MF, HDFC MF, Bharti Axa Life Insurance Company, Nomura India Investment Fund, Kotak Mahindra Life Insurance Company, Goldman Sachs (Singapore) Pte Ltd, and Fidelity.

To know more about IPOs listing, schedule and upcoming IPOs, click here.

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Upstox Securities Pvt. Ltd.: SEBI Registration No. INZ000315837 | NSE TM Code: 13942 | BSE TM Code: 6155 | CDSL Reg No.: IN-DP-761-2024 | CIN: U65100DL2021PTC376860 | Compliance Officer: Mr. Kapil Jaikalyani. Tel No.: (022) 24229920. Email ID: compliance@upstox.com | Registered Address: 809, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001 | RKSV Commodities India Pvt. Ltd.: SEBI Registration No.: INZ000015837 | MCX TM Code: 46510 | CIN: U74900DL2009PTC189166 | Compliance Officer: Mr. Amit Lalan. Tel No.: (022) 24229920. Email ID: compliance@rksv.in | Registered Address: 807, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001. Correspondence Address: 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (West), Mumbai - 400013. | For any complaints, email at complaints@upstox.com and complaints.mcx@upstox.com.

Procedure to file a complaint on SEBI SCORES: Register on the SCORES portal. Mandatory details for filing complaints on SCORES include: Name, PAN, Address, Mobile Number, and E-mail ID. Benefits include effective communication and speedy redressal of grievances. Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI, along with our Terms of Use and Privacy Policy.

Upstox Securities Private Limited is a wholly owned subsidiary of RKSV Securities India Private Limited and RKSV Commodities India Private Limited is an associate of RKSV Securities India Private Limited.

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing.
*Brokerage will not exceed the SEBI prescribed limit.

Risk disclosures on derivatives -

9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹ 50,000
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Mutual Funds: Top rated funds do not constitute any advice. Research data is powered by Morningstar. Please read the offer documents carefully before investing. Upstox shall not accept any liability arising out of your investments.
These are not Exchange traded products, and the Member is just acting as distributor. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.

Attention Investors: As per NSE circular dated July 6, 2022, BSE circular dated July 6, 2022, MCX circular dated July 11, 2022 investors are cautioned to abstain them from dealing in any schemes of unauthorised collective investments/portfolio management, indicative/ guaranteed/fixed returns / payments etc. Investors are further cautioned to avoid practices like:
a) Sharing i) trading credentials – login id & passwords including OTP’s., ii) trading strategies, iii) position details.
b) Trading in leveraged products /derivatives like Options without proper understanding, which could lead to losses.
c) Writing/ selling options or trading in option strategies based on tips, without basic knowledge & understanding of the product and its risks
d) Dealing in unsolicited tips through like Whatsapp, Telegram, Instagram, YouTube, Facebook, SMS, calls, etc.
e) Trading / Trading in “Options” based on recommendations from unauthorised / unregistered investment advisors and influencers.

Kindly, read the Advisory Guidelines For Investors as prescribed by the Exchange with reference to their circular dated 27th August, 2021 regarding investor awareness and safeguarding client’s assets : Advisory Guidelines For Investors

Kindly, read the advisory as prescribed by the Exchange with reference to their circular dated January 14, 2022 regarding Updation of mandatory KYC fields by March 31, 2022: KYC Updation

Attention Investors: Prevent unauthorised transactions in your Demat account by updating your mobile number with your depository participant. Receive alerts on your registered mobile number for debit and other important transactions in your Demat account directly from CDSL on the same day. Prevent unauthorised transactions in your Trading account by updating your mobile numbers/email addresses with your stock brokers. Receive information on your transactions directly from the Exchange on your mobile/email at the end of the day. Issued in the interest of investors. KYC is a one-time exercise while dealing in securities markets - once KYC is done through a SEBI-registered intermediary (broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary. As a business, we don’t give stock tips and have not authorised anyone to trade on behalf of others. If you find anyone claiming to be part of Upstox or RKSV and offering such services, please send us an email at complaints@upstox.com and complaints.mcx@upstox.com.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account. Stockbrokers can accept securities as margin from their clients only by way of a pledge in the depository system w.e.f. 1st September 2020.
Update your email ID and mobile number with your stockbroker/depository participant and receive an OTP directly from the depository on your registered email ID and/or mobile number to create a pledge.
Check your securities/mutual funds/bonds in the Consolidated Account Statement (CAS) issued by NSDL/CDSL every month.

Attention Investors: SEBI has established an Online Dispute Resolution Portal (ODR Portal) for resolving disputes in the Indian Securities Market. This circular streamlines the existing dispute resolution mechanism, offering online conciliation and arbitration, benefiting investors and listed companies. https://www.sebi.gov.in/legal/circulars/jul-2023/online-resolution-of-disputes-in-the-indian-securities-market_74794.html ODR portal for Investors - https://smartodr.in/login

Ola Electric Share Price Highlights: Stock hits 20% upper circuit after flat D-street debut; check details

Corporate actions next week: Dividends, stock splits and rights issues

MCX gold futures decline for the fifth straight day, falling below ₹74,000 per 10 gram; here’s why

Swiggy Share Price: Stock pares gains to trade 4.5% lower after rising over 7% intraday

HCL Technologies, Ami Organics, and Banco Products hit fresh 52-week highs today; here’s why

Trade setup for 14 Nov: Critical test for NIFTY50!

Trade setup: NIFTY50 below August low!