New Delhi: Today , Ola Electric's IPO has been listed in the stock market . The company's IPO has been flat listed on both the stock market exchanges i.e. BSE and NSE. The IPO was listed at Rs 75.99 on the Bombay Stock Exchange (BSE) and at Rs 76 on the National Stock Exchange (NSE).

The market capitalization of the company (Ola Electric M-Cap) at the time of listing stood at Rs 36,742.21 crore.

Shares rose 18%

Ola's shares were flat listed at 9.15 am. But, after the listing, investors' interest in the company's shares increased. Within 15 minutes of listing, the stock saw a tremendous rise. At the time of writing the news, the company's shares had risen by more than 18 percent.  

IPO subscribed 4.27 times

Ola Electric's IPO was open from August 2 to August 6. This IPO has been subscribed a total of 4.27 times. Today the company's shares have been listed in 'B' group securities. The company raised Rs 2763.03 crore from anchor investors. The price band of Ola IPO was Rs 72-76/share.

Let us tell you that Ola Electric is the first two-wheeler electric vehicle company in the country to enter the stock market.

Use of IPO

The company itself said that the money raised through the IPO will be used to expand the Gigafactory. Apart from this, the company will also spend on research and development unit.

The head office of Ola Electric is in Bangalore. Ola Electric was started in the year 2017. This company was started by Bhavish Aggarwal. The company also manufactures equipment like battery pack, motor and vehicle frame for electric vehicles of electric scooters. All these equipment are made in Ola Future Factory.

It is believed that the company will launch its first electric motorcycle on 15 August 2024. Apart from this, the company will soon bring three-wheelers in the market. Ola has said that it will launch electric auto in the next 6 months.