New Delhi: Shares of two-wheeler company Ola Electric were listed in the stock market last week. The company's shares had a flat listing, but later the company's shares saw a tremendous rise. After listing on August 9 itself, the company's shares rose by more than 18 percent.

This clearly shows that after listing, investors' interest in the company's shares had increased. Let us tell you that the shares of Bhavish Aggarwal-led Ola Electric Mobility Limited rose 20 percent today. With this rise, the company's shares touched a new upper circuit limit.

On the Bombay Stock Exchange (BSE), the company's shares rose 19.99 percent to reach Rs 109.41 per share. On the National Stock Exchange (NSE), the company's stock was trading at Rs 109.44 per share with a gain of 20 percent. After the rise in the stock, the company's market cap increased by Rs 8,040.94 crore, taking the total to Rs 48,258.89 crore.

On the day of listing itself, the company's shares touched the upper circuit limit of 20 percent.

Ola Electric IPO

Ola Electric's IPO was open from 2 August to 6 August 2024. The company had fixed the price band of the IPO at Rs 72-76 per share. In this IPO, the company had issued issues worth Rs 6,145 crore. Ola Electric's IPO was subscribed 4.27 times.

Let us tell you that Ola Electric is the first electric vehicle manufacturer whose shares have been listed. This IPO had a fresh issue of up to Rs 5,500 crore and an offer-for-sale (OFS) of 8,49,41,997 equity shares.

According to the company, it will use Rs 1,227.6 crore from the amount raised from the IPO to expand its cell manufacturing plant. Apart from this, Rs 1,600 crore will be used for research and product development. At the same time, Rs 800 crore will be used to repay the loan and Rs 350 crore will be used for the growth of the company.