Ola Electric Mobility's stock surged 7.87% on Tuesday, reaching ₹157.53 on the BSE—107% above its IPO price of ₹76. CEO Bhavish Aggarwal, holding a 30.02% stake, is now worth ₹21,000 crore.
HSBC's recent "Buy" rating and confidence in Ola's battery venture played a role in this rise, as the stock quickly surpassed HSBC's target of ₹140. Aggarwal also gained ₹288 crore by selling a portion of his stake during the IPO, bringing his total worth to ₹21,144 crore.