Ola Electric Shares Double, Then Drop 12% After Block Deal

By: Pocketful

Ola Electric shares doubled from their IPO price, hitting ₹157.5 per share.

Opening Surge

After hitting highs, shares dropped 12% to below ₹140 by 11:30 AM.

Mid-Day Correction

A block deal saw 3.1 crore shares change hands, valued at ₹468.3 crore.

Block Deal Overview

Ola Electric’s net loss widened to ₹347 crore; revenue up by 32.3% YoY.

Financial Performance

Ola Electric enters the motorcycle market with the Roadster Series, starting at ₹1.99 lakh.

New Product Launch