Ola Electric's shares soared 20% to reach an upper circuit limit of Rs 91.20 on the NSE, following an initial disappointing performance where they were listed at the issue price of Rs 76.
The much-anticipated IPO, valued at Rs 6,146 crore and which concluded on August 6, was oversubscribed by only 4.26 times, falling short of market expectations. Anchor investors included Nomura, HDFC Mutual Fund, and SBI Mutual Fund.
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