Ola Electric share price holds in green after one-day fall; stock at nearly double the IPO price

Ola Electric Mobility share price latest news: The Rs 6,154-crore public offering, a combination of new shares and an offer for sale from existing investors, had received robust investor interest. (Photo: Pixabay)

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26 Aug, 2025 12:21

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Ola Electric Mobility share price was holding with marginal gains on Wednesday, 21 August, a day after nearly 6 percent fall. The electric vehicle stock was trading at Rs 138.7 in the late morning, up 0.66 percent from the previous close.

On Tuesday, Ola Electric stock had seen its first major fall after a relentless rise since its listing last week, which nearly doubled IPO investors’ money. The share price is still more than 80 percent higher than the IPO price of Rs 76.

Ola Electric’s stellar D-street debut

The Rs 6,154-crore public offering, a combination of new shares and an offer for sale from existing investors, had received robust investor interest. The issue was subscribed 4.27 times. The Initial Public Offering, the first by an electric vehicle maker, had a fresh issue of up to Rs 5,500 crore and an Offer-for-Sale (OFS) of up to 8.5 crore equity shares.

Both Qualified Institutional Buyers (QIBs) and retail investors showed strong interest, subscribing 5.31 times and 3.92 times their respective allotments on August 6. Non-institutional investors (high net-worth individuals) bid 2.4 times the shares allocated to them. Employees also demonstrated robust participation, purchasing 11.99 times the reserved portion.

Ola Electric gets PLI certification

Meanwhile, in a major boost, Ola Electric recently said that it has received PLI certification. In a stock exchange filing, the company said that its mass-market scooters S1 X 3 kWh and S1 X 4 kWh were granted ‘Certification for Compliance’ under the Production Linked Incentive (PLI) scheme for the automobile and auto components.

Both the S1 X 3 kWh and S1 X 4 kWh scooters have met the stringent minimum localisation criteria of 50 per cent as mandated by the Ministry of Heavy Industries, the company said in the statement.