Ola Electric share price slips over 1% after company announces Holi Flash Sale; check the offers

3 min read | Updated on March 13, 2025, 09:38 IST

SUMMARY

Ola Electric Holi Flash Sale: Under this special promotion, customers can avail discounts of up to ₹26,750 on the S1 Air and ₹22,000 on the S1 X+ (Gen 2), with the models now starting at ₹89,999 and ₹82,999, respectively.

Shares of electric two-wheeler company Ola Electric Mobility Ltd listed on a flat note on August 9, 2024. | Image: Shutterstock

Ola Electric Holi Flash Sale: Shares of Ola Electric Mobility slipped as much as 1.27% to ₹50.41 apiece on the NSE in the early trade on Thursday, March 13.

The EV company on Tuesday announced its limited-time Holi flash sale offers for its popular S1 range of electric scooters.

Under this special promotion, customers can avail discounts of up to ₹26,750 on the S1 Air and ₹22,000 on the S1 X+ (Gen 2), with the models now starting at ₹89,999 and ₹82,999, respectively.

The company is also offering discounts of up to ₹25,000 on the rest of its S1 range, including all the scooters from its latest S1 Gen 3 range. With both S1 Gen 2 and Gen 3, the company has a vast portfolio of scooters across all price points ranging from ₹69,999 to ₹1,79,999 (after festive discount), making this Holi season the best time to upgrade to EVs.

Besides, Ola Electric is also offering benefits worth up to ₹10,500. New buyers of S1 Gen 2 scooters can avail 1 year of free Move OS+ worth ₹2,999 and an extended warranty worth ₹14,999 at just ₹7,499.

The Gen 3 portfolio comprises the flagship S1 Pro+ 5.3 kWh and 4 kWh priced at ₹185,000 and ₹159,999, respectively. The S1 Pro, available in 4kWh and 3kWh battery options, is priced at ₹1,54,999 and ₹1,29,999, respectively.

The S1 X range is priced at ₹89,999 for 2kWh, ₹1,02,999 for 3kWh, and ₹1,19,999 for 4kWh, with S1 X+ available with the 4kWh battery and priced at ₹1,24,999. "Along with the latest Gen 3 S1 scooters, the company continues to retail its Gen 2 scooters with S1 Pro, S1 X (2kWh, 3kWh, and 4kWh) now starting at ₹1,49,999, ₹84,999, ₹97,999, and ₹1,14,999, respectively. (*All prices are ex-showroom, post-FAME, India)," the company said.

Ola Electric Mobility is one of the leading electric vehicle (EV) manufacturers in India. It specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The Ola Futurefactory in Tamil Nadu, where EVs and critical components are produced, is developing as India's most significant EV hub. It is supported by Ola's Bengaluru-based Battery Innovation Centre (BIC), dedicated to advancing cell and battery technology.

Ola's R&D efforts span India, the UK, and the US, focusing on innovative EV products and core components. Ola maintains a direct-to-customer distribution network with more than 800 stores across India and a robust online presence, making Ola Electric the largest company-owned network of automotive experience centres in the country, per the company's press release.

Ola Electric listing and IPO details

Shares of electric two-wheeler company Ola Electric Mobility Ltd listed on a flat note on August 9, 2024, against the issue price of ₹76, but later bounced back and jumped nearly 11%.

The stock made its debut at ₹75.99, marginally down by 0.01% from the issue price on the BSE. Later, it jumped 10.71% to ₹84.14.

On the NSE, shares of the firm listed at par with the issue price of ₹76. Later in the trade, the stock soared 10.80% to ₹84.21.

ALSO READ | Bharat Electronics shares in focus on signing contract worth ₹2,463 crore with Defence Ministry

The ₹6,145 crore initial public offering (IPO) of Ola Electric Mobility received 4.27 times subscription on the final day of bidding.

The initial share sale had a price band for the offer at ₹72-₹76 a share.

The IPO, the first by an electric vehicle maker, had a fresh issue of up to ₹5,500 crore and an Offer-for-Sale (OFS) of up to 8,49,41,997 equity shares.

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