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.

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 INR109 $1.3 per share compared to its listing price of INR76. 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,...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222