Ola Electric Shares Surge 20%, Hit Upper Circuit for Second Day

• Shares of newly listed Ola Electric Mobility surged 20% to hit an upper circuit of Rs 109.44 apiece on August 12, extending gains for a second consecutive session.
• The company will hold its first board meeting since listing on August 14, 2024, to declare the Q1FY25 results.
• The IPO was a combination of a fresh issue of Rs 5,500 crore and an offer-for-sale of 8.49 crore shares worth Rs 645.6 crore by existing shareholders.
• In terms of volumes, 14 crore shares changed hands in the morning, lower than the 57 crore shares traded on August 9.
• Ola Electric is gearing up to unveil its first electric motorcycle on Independence Day, with no official details disclosed yet.

Source: Moneycontrol