Ola Electric's IPO Success Fuels Investor Optimism Despite Rising Losses

India's leading e-scooter maker faces challenges from reduced incentives and increasing competition while boosting market confidence with a strong stock debut.

• Ola Electric reported a Q1 loss of 3.47 billion rupees due to price cuts and reduced government subsidies.
• Revenue for the quarter increased by 32.3%, with sales volume rising by 57%.
• The company's IPO raised $734 million, with shares surging 42% above the offer price in early trading.
• Analysts highlight supply-chain issues and competition as significant hurdles for Ola's expansion ambitions.
• Despite challenges, Ola Electric commands a 39% market share in India's electric two-wheeler market.

3 Articles

CNA Reuters South China Morning Post