The rapid rise in Ola Electric Mobility Ltd. shares is vindicating the founder’s push to list the company despite initial skepticism over valuation.
The stock has surged nearly 82% in less than two weeks, bringing its market capitalization to over $7 billion. The company’s initial public offering was India’s biggest in two years and saw participation from across investor segments.
Bhavish Aggarwal during the company’s listing ceremony at the National Stock Exchange (NSE) in Mumbai on Aug. 9.
Photographer: Abeer Khan/Bloomberg
The jump has helped founder Bhavish Aggarwal achieve his target valuation much sooner than expected, buoyed by strong investor demand in India’s hot IPO market. The country’s biggest e-scooter maker went ahead with the offering at a lower value ...
