Ola Electric shares skyrocket 92% above IPO price, set new record high

Ola Electric shares: Shares of Ola Electric Mobility continued their remarkable upward momentum on Monday, surging by an additional 10 per cent to reach a new 52-week high of Rs 146 on the Bombay Stock Exchange (BSE). This impressive rally has driven the stock up by 92 per cent from its initial public offering (IPO) price of Rs 76, reflecting strong investor confidence in the company's growth prospects.On the BSE, Ola Electric's stock reached the upper circuit limit, closing at Rs 146.03 per share, while on the National Stock Exchange (NSE), the shares advanced to Rs 146.38 apiece, nearly hitting the day's trading limit.Trading volume and market capitalisation surgeThe trading volume was robust, with 77.90 lakh shares of Ola Electric changing hands on the BSE, resulting in a total turnover of Rs 111.21 crore. The NSE saw even higher activity, with over 977.51 lakh shares traded throughout the day. This heightened trading activity propelled the market capitalisation of Ola Electric to an impressive Rs 64,411.35 crore, as per BSE data.Ola Electric’s market debut and IPO performanceOla Electric, led by Bhavish Aggarwal, made its debut on the stock market at Rs 76 per share on the NSE. Although the initial listing was relatively flat, the stock quickly gained traction, surging by 20 per cent and hitting the upper circuit limit shortly after its debut. The company's Rs 6,145-crore IPO, the first public offering by an electric vehicle (EV) manufacturer in India, garnered strong interest with a subscription rate of 4.27 times on the final day of bidding. The IPO had a price band of Rs 72-76 per share, comprising a fresh issue of up to Rs 5,500 crore and an Offer-for-Sale (OFS) of up to 8.49 crore equity shares.Financial performanceIn the June quarter, Ola Electric reported a 32 per cent year-on-year increase in revenue. However, the company's loss widened to Rs 347 crore, up from Rs 267 crore in the same quarter of the previous year. Despite the widened loss, the company has continued to attract investor interest, particularly after entering the electric motorcycle segment last week with the launch of its Roadster, Roadster X, and Roadster Pro models. Ola Electric also announced plans to begin integrating its own battery cells into its vehicles starting in the first quarter of FY26, signaling its commitment to innovation and cost reduction.The recent rally in Ola Electric's stock has surpassed the target price of Rs 140 set by HSBC, which initiated coverage on the company last Thursday. The global brokerage firm highlighted Ola’s strong position in the market, supported by favorable regulatory policies, cost-reduction strategies, and a positive outlook for its battery venture.

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Ola Electric shares skyrocket 92% above IPO price, set new record high

On the BSE, Ola Electric's stock reached the upper circuit limit, closing at Rs 146.03 apiece while on the NSE, the shares advanced to Rs 146.38 apiece.

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