Overview

• Ola Electric's shares rose 10% on their trading debut, valuing the company at $4.4 billion.
• The IPO raised $734 million, the largest in India for 2024, with $1.8 billion in bids.
• Despite a dominant market share, Ola Electric remains unprofitable with widening losses.
• The company plans to invest IPO proceeds in R&D and battery cell manufacturing.
• Projections for India's electric two-wheeler market show significant growth potential despite subsidy cuts.