Ola Electric Takes Charge of Public Trust: CEO Bhavish Aggarwal Pledges Responsible Growth Post Stock Market Debut

Ola Electric Mobility, India’s leading electric two-wheeler manufacturer, made its debut on the stock market today. Following this significant event, CEO Bhavish Aggarwal emphasized the company’s newfound responsibility. He stated that Ola Electric now bears the duty of being custodians of public money, which means they are tasked with allocating it wisely for the benefit of all stakeholders – including consumers, employees, shareholders, and, most importantly, society.

At the listing ceremony, Aggarwal expressed his thoughts by saying, “I hope that when we look back on this day, no matter where we are – whether in different companies, jobs, or countries – we remember the emotion we feel today. It’s important to keep in mind that our destination is still far ahead.”

Shares of Ola Electric, India’s largest manufacturer of electric two-wheelers, saw a significant rally, surging nearly 20% to reach the upper circuit limit compared to the issue price of ₹76. The company’s shares initially debuted at ₹75.99 on the Bombay Stock Exchange (BSE), which was marginally down by 0.01% from the issue price. However, the stock quickly made a strong comeback, jumping 19.97% to ₹91.18, hitting the upper circuit limit.

The initial public offering (IPO) of Ola Electric, a pure electric vehicle (EV) company, began on August 2 and concluded on August 6. The IPO saw substantial interest, reflecting the market’s confidence in the company and the broader EV sector.

Ola Electric’s successful market debut marks a major milestone in its journey, underscoring its growing influence in India’s electric vehicle market. The surge in its stock price post-listing highlights the strong demand and investor confidence in the company’s future.