Mumbai: Ola Electric Mobility, the electric two wheeler maker made a quiet debut listing at par with the public issue price of Rs 76 per equity share but gained steadily as trade progressed on first day of trading.
Ola Electric shares closed at day's high of Rs 91.20 up 20 per cent on NSE and at Rs 91.18 up 19.99 per cent on BSE.
Total traded value of shares were Rs 4,426.21 crore on NSE and Rs 475.87 crore on BSE.
The market capitalisation of Ola Electric stood at Rs 40,226.77 crore on NSE.
Ola Electric's Rs 6,145 crore public issue was subscribed 4.45 times.
Ola founder and CMD, Bhavish Aggarwal's 36.94 per cent shares held pre IPO are now worth over Rs 12,420.30 crore at market close price of Rs 91.20 per share.
"India today has become the largest EV two wheeler market, though we were written off at the very beginning by nay sayers," said Aggarwal during the listing ceremony and shared how he built Ola Electric in exactly three years time starting on August 15, 2021.
"World can not achieve sustainability goals without India as world goes through energy transistion," he said.
