The EV maker, Ola Electric Mobility on Friday (August 9) made a debut on the stock exchange today with the shares of the company hitting the upper circuit limit, marking a 20 per cent surge on the first day of trading both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), closing at Rs 91.18 and Rs 91.20 per share, respectively.
The combined turnover across both the headline indices was an impressive Rs 4,821.91 crore, with a total of 5,721.04 lakh shares traded.
The market capitalisation of the company at today's closing surged to Rs 40,217 crore on BSE and Rs 40,226.77 crore on NSE.
During the listing ceremony, Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, "While entrepreneurs often receive the spotlight, it is the dedicated team and their supportive families who truly deserve the credit”.
"While their hard work and achievements are significant, the day was not merely about celebrating past accomplishments. Instead, he underscored the importance of drawing inspiration from their journey and embracing the responsibility of being custodians of public money. He urged everyone to remember the sense of purpose they felt on this day, as the journey toward building the India of their dreams continues," he added.
About the company
The company commenced the delivery of its first EV model, the Ola S1 Pro, in December 2021 and has quickly made it comfortable in the Indian EV market.
By the end of 2023, the company expanded its lineup with more models like the Ola S1 Air and Ola S1 X+.
Thereafter, within the nine month of its first delivery, the became one of the best selling electric two wheeler brand in the Indian market, marking its position in the EV segment.
Furthermore, the company manufactures core EV components like battery packs, motors, and vehicle frames at its Ola Futurefactory and plans to export its EVs to select international markets.
In addition, it is also developing an EV hub in Tamil Nadu, which will complement its existing facilities in Bengaluru.
