Bhavish Aggarwal, who became a new entrant in the India’s billionaires club after Ola Electric Mobility’s listing on August 9, hailed the achievement and said “this moment is finally sinking in”.
“It felt like a process till yesterday - where we did our work and put in our time and made India one of the largest EV 2W markets. Our hard work has paid off and the world recognises that,” Aggarwal wrote in a post on X (formally Twitter).
With Ola Electric Mobility Ltd shares rallying 17 percent, following a muted stock market listing, the company promoter Bhavish Aggarwal who held 1,36,18,75,240 shares, or 36.94 percent stake, pre-listing, was valued at Rs 12,104 crore or $1.44 billion.
The Ola founder said, “But today it feels like an important duty, a responsibility to double down on our aspirations and to build the country of our dreams. To be dedicated and faithful custodians of public money and faith.”
He also added that the destination is still far ahead and “we didn’t come this far, to just come this far”.
Earlier today, Ola Electric Mobility made a flat listing, as the stock made its debut at Rs 76, the same as the issue price. There were even hopes of a discount listing. On BSE, the scrip got listed at a negligible discount of 0.01 per cent at Rs 75.99 on BSE.
The IPO ran from August 2 to August 6. It was sold in the price band of Rs 72-76 per share. Ola Electric raised a total of Rs 6,145.56 crore from the issue, which included a fresh share sale of Rs 5,500 crore and an offer-for-sale (OFS) up to 8,49,41,997 shares.
The Indian billionaire list is led by Mukesh Ambani ($109 billion) and Gautam Adani ($105 billion), who are also the world's 11th and 12th richest, respectively. Among the top 500 billionaires globally, Mahendra Choksi & family ($5.85 billion), Rakesh Gangwal ($6.32 billion), Benu Bangur ($6.7 billion), Samir Mehta ($8.09 billion) and Sudhir Mehta ($8.09 billion) are some of the Indian billionaires that are a part of Bloomberg Billionaire index.