Ola Electric Mobility shares jump 20%

New Delhi: Shares of Bhavish Aggarwal-led electric two-wheeler company Ola Electric Mobility Ltd surged 20 per cent to hit the upper circuit limit against the issue price of Rs 76 after listing on a flat note earlier in the day on Friday. The stock made its debut at Rs 75.99, marginally down by 0.01 per cent from the issue price on the BSE. The stock made a smart comeback and jumped 19.97 per cent to Rs 91.18 -- the upper circuit limit.

At the NSE, shares of the firm listed at par with the issue price of Rs 76. Later, the stock soared 20 per cent to Rs 91.20 -- its upper circuit limit, in a remarkable comeback. The company’s market valuation stood at Rs 40,217.95 crore. The Rs 6,145-crore initial public offer of Ola Electric Mobility received 4.27 times subscription on the final day of bidding on Tuesday. The initial share sale had a price band at Rs 72-76 a share.