Mumbai: Ola Electrical Mobility continues to surge within the inventory market. Its shares rose 11.6 per cent to Rs 123 per share on the BSE in buying and selling on Friday. With this, the corporate has given a revenue of 72.39 per cent within the final one week since its IPO itemizing on August 9.
Ola Electrical shares jumped on Friday after the electrical mobility participant on Thursday introduced its foray into the electrical motorbike phase, launching three fashions and two extra within the pipeline. The corporate additionally reported a bounce in income from operations for the April-June quarter of 2024-25.
About Ola IPO
The inventory had listed steady at its preliminary public providing (IPO) worth of Rs 76. The corporate’s shares rose to Rs 91.20 on the day of itemizing itself. Ola Electrical’s Rs 734 million IPO is India’s largest IPO up to now in 2024. The corporate is a number one participant in a rustic the place EV adoption remains to be low. However it’s rising, as Prime Minister Narendra Modi’s authorities promotes clear vitality.
With a 39 per cent market share as of July, Ola Electrical dominates electrical scooter gross sales in India, having launched its first mannequin simply three years in the past.
