On Friday, Bhavish Aggarwal’s company Ola Electric got listed in the stock market. The company’s shares were listed on the BSE at a price of Rs 75.99, one paisa less than its issue price of Rs 76. As soon as the listing happened in the market, there was a rush among investors to buy the company’s shares, so Ola Electric’s shares reached new heights in no time. On the very first day of listing, the company’s shares hit an upper circuit with a jump of 20 percent and closed at Rs 91.18.
Market cap reached Rs 40,217.95 crore on the day of listing
Ola Electric’s shares not only gave a memorable start to investors on the listing day, but it also gave a very strong start to the company and CEO Bhavish Aggarwal. After a rapid rise on Friday, the company’s market cap reached Rs 40,217.95 crore. Not only this, Bhavish Aggarwal’s net worth has also increased tremendously due to the rise on listing day.
Bhavish’s net worth increased by $ 1.4 billion
38-year-old Bhavish Aggarwal held 1,36,18,75,240 shares (36.94 percent stake) of Ola Electric at the time of the company’s listing. According to the Bloomberg Billionaires Index, Bhavish’s net worth has increased by $1.4 billion. Ola Electric shares saw a 16% jump at 10:30 am on Friday, taking the CEO’s net worth to $2.6 billion. However, Ola Electric did not immediately respond to a question about Bhavish’s net worth.
Ola Electric’s IPO was opened on 2 August
Ola Electric Mobility Limited’s Rs 6,145.56 crore IPO opened on August 2 and closed on August 6. Ola Electric’s IPO received a total subscription of 4.5 times. The company had fixed a price band of Rs 72 to Rs 76 for each share under its IPO.
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