The recently listed Ola Electric shares saw a 20% upper circuit for the second consecutive session. On the BSE, the Stock opened at Rs 97.21 and reached a high of Rs 109.44 on August 12, following its market debut on August 9.

Ola Electric Mobility is scheduled to hold its first board meeting after listing on August 14, 2024, to announce the Q1FY25 results.

The Ola IPO included the company’s fresh issue of Rs 5,500 crore and an offer-for-sale of 8.49 crore shares worth Rs 645.6 crore by existing shareholders.

Following a 20% surge, shares of Ola Electric Mobility hit an upper circuit at Rs 109.44 per share on August 12, marking a second consecutive session of gains. This comes after a similar rally triggered the upper circuit on its market debut on August 9.

On the final day of bidding, Ola Electric Mobility’s Rs 6,145-crore initial public offer garnered subscriptions 4.27 times the offer size. Subscriptions for the issue were accepted from August 2 to August 6. The price band for the initial share sale was set at Rs 72–76 per share.

Regarding trading volume, 14 crore shares were traded in the morning, a decrease from the 57 crore shares traded on August 9. On August 1, the company raised Rs 2,763 crore from anchor investors. Domestic mutual funds, domestic life insurance companies, and foreign funds participated in the anchor allotment.

The company, led by Bhavish Aggarwal, will release its Q1 results on August 14. Ola Electric Mobility’s first board meeting since listing, scheduled for August 14, 2024, will review and approve the unaudited standalone and consolidated financial results for the June 30, 2024 quarter.

Ola Electric is preparing to unveil its first electric motorcycle on Independence Day. While specific details haven’t been disclosed, the electric two-wheeler manufacturer has been working on an electric bike for a while. In August last year, Ola revealed concept electric motorcycles, including four models: Diamondhead, Adventure, Roadster, and Cruiser.

Of the total anchor book allocation, 40% went to domestic mutual funds, while global investment firms received approximately 54%. SBI MF, HDFC MF, and Nippon India MF received relatively higher allotments in the anchor portion compared to other domestic mutual funds.

At 13:51 pm, shares of the company were locked at Rs 109.44 higher at 20% upper circuit on the BSE.

Feeling overwhelmed by the markets? Let Unicorn Signals be your guide. Our user-friendly app simplifies complex data and provides actionable trading signals. Download the app today and trade with confidence!