Ola Electric IPO: Ola Witnessed 20% Increase in Shares, Hits Upper Circuit with Bumper Investment

Ola IPO: The bumper listing of Ola Electric IPO was held in the share market on 9 August. The IPO of the company was listed at a premium of 16% from its issue price. The upper circuit was placed in the share of Ola Electric, witnessing an upside of 20% in the share. Following this, the share reached Rs.91.2 on NSE and Rs.91.18 on BSE. 

Ola Electric IPO Date, Price Band

Ola Electric makes EV components in its Ola Future factory such as battery packs, motors, vehicles, and frames. The company plans to invest Rs.1227 Cr to increase its cell manufacturing plant capacity to 5 GWh and make it 6.4 GWh. Apart from this, Rs.1600 Cr will be allocated for research and product development and Rs.350 Cr will be allocated for organic growth initiatives. The company issued a public issue of Rs. 6154 Cr, and was subscribed 4.27 times.