Ola Electric Market Cap Surges Past ₹51,000 Crore

13 Aug 2024 , 01:09 PM

Ola Electric Mobility shares rose 71% from their listing price of ₹76 to a market capitalisation of more than ₹51,000 crore in just three days after the stock debuted on the bourses.

Today’s stock hit a new high of ₹130 on the BSE after rising about 19% in the early trading session.

On Friday, the firm stated that the board will have its first meeting since the listing on August 14, to release the first quarter results for fiscal year 2025.

The company’s shares were listed at ₹76 each, in accordance with the IPO pricing. The IPO mostly met expectations, as the GMP was undervalued in the unlisted market.

Ola Electric’s share price has also risen due to its leadership position in the electric two-wheeler sector, where it holds a 35% stake.

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