Ola Electric Mobility and Brainbees Solutions boost India's IPO market
The first 'pure-play' electric vehicle manufacturer to IPO on the Indian market is the largest listing this year in the country, while baby-product firm Brainbees Solutions has also listed; both have seen their shares soar on debut.
FrankLin
August 13, 2024
Bangalore-based Ola Electric Mobility Ola Electric shares made their market debut on August 9 and have soared over 40% since their first day of trading to above IDR109 $1.3 per share compared to its listing price of IDR76. The shares have now twice hit market circuit breakers of a maximum daily 20% share rise.
It was the first initial public offering IPO by an electric vehicle EV manufacturer in India and the first IPO by an automaker in India in around 20 years. Founded in 2017, Ola Electric specialises in the production of EVs, building vertically integrated technology and manufacturing capabilities for EVs and EV components,...
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