Ola Electric IPO Surges 140% on Listing Day, Market Cap Crosses ₹1 Lakh Crore
Ola Electric's IPO delivered one of the most spectacular listing-day performances in Indian market history, with shares surging 140% and the company's market cap crossing ₹1 lakh crore.
Ola Electric's IPO has delivered a historic listing-day performance, with shares closing at ₹280 against an issue price of ₹116, representing a 141% gain and pushing the company's market capitalization to ₹1.25 lakh crore.
IPO Details
The ₹6,145 crore IPO was subscribed 79 times overall, with the QIB portion subscribed 113 times. The issue received bids worth ₹4.85 lakh crore against a total issue size of ₹6,145 crore.
Business Fundamentals
Ola Electric sold 5.8 lakh electric scooters in FY2026, capturing 31% of the Indian EV two-wheeler market. Revenue stood at ₹5,010 crore, up 142% year-over-year, though the company remains loss-making at the PAT level.
Bhavish Aggarwal's Vision
Founder Bhavish Aggarwal has articulated an ambitious plan to expand beyond two-wheelers into four-wheelers, with the first Ola Electric car expected in 2027.
Analyst Views
Analysts are divided — bulls point to massive EV market tailwinds and Ola's manufacturing scale, while bears highlight ongoing quality complaints, negative unit economics, and intense competition from Bajaj and TVS.
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