In a remarkable display of investor enthusiasm, Ola Electric Mobility 's stock offering during the Muhurat Mahotsav event witnessed an overwhelming response from the market. The electric vehicle manufacturer's shares were completely sold out within a mere 5 minutes of the event's commencement.

Lightning-Fast Sellout

The Muhurat Mahotsav, a special trading session typically held during Diwali, saw Ola Electric Mobility's stock offering become an instant hit among investors. The rapid sellout of shares underscores the strong interest in the electric vehicle sector and particularly in Ola Electric Mobility's market position.

Market Implications

This swift sellout could be interpreted as a vote of confidence in Ola Electric Mobility's business model and future prospects. The electric vehicle industry in India has been gaining significant traction, with Ola Electric Mobility positioning itself as a key player in this growing market.

Company Background

Ola Electric Mobility, known for its electric scooters and ambitious plans in the EV space, has been making waves in the Indian automotive industry. The company's focus on sustainable transportation solutions appears to have resonated well with investors participating in the Muhurat Mahotsav.

While the specific details of the stock offering, such as the number of shares or the price per share, were not disclosed in the initial report, the rapid sellout suggests a high demand for Ola Electric Mobility's equity.

As the electric vehicle market continues to evolve in India, Ola Electric Mobility's successful stock offering during the Muhurat Mahotsav may be seen as a positive indicator for the company's future endeavors and the overall sentiment towards the EV sector in the country.

Ola Electric Mobility , India's largest pure-play EV company, has unveiled its 'Ola Celebrates India' campaign, offering electric vehicles at unprecedented prices starting from ₹49,999. The promotional campaign, dubbed 'Ola Muhurat Mahotsav', will run for nine days beginning September 23, with limited daily units available for purchase.

Campaign Details

The 'Ola Celebrates India' campaign is designed to make world-class electric vehicles more accessible to Indian households while honoring the country's cultural identity. As part of this initiative, Ola Electric is introducing significant price reductions on its popular models:

• S1 X 2kWh and Roadster X 2.5kW: Priced at ₹49,999
• S1 Pro+ 5.2kWh and Roadster X+ 9.1kWh: Priced at ₹99,999

Both the S1 Pro+ 5.2kWh and Roadster X+ 9.1kWh models come equipped with 4680 Bharat Cell battery packs, showcasing Ola's commitment to advanced battery technology.

Limited Availability and Muhurat Time-slots

To manage the expected high demand, Ola Electric will offer a limited number of units daily on a first-come, first-served basis. The company plans to announce specific 'Muhurat' time-slots for purchases on its social media handles each morning throughout the nine-day campaign.

Ola's Vision

An Ola Electric spokesperson emphasized the campaign's significance: "With Ola Celebrates India, we are bringing together progress, culture, and accessibility in a way that resonates with the spirit of this festive season. The Muhurat Mahotsav is not just about never-before prices - it's about making world-class EVs accessible to every Indian household, while celebrating our shared belief that India's modernity must be rooted in its own identity."

Extensive Product Portfolio

Ola Electric boasts an expansive range of electric scooters and motorcycles to cater to diverse consumer needs:

Future Innovations

At its recent annual 'Sankalp' event, Ola Electric announced new additions to its lineup:

• S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh: Featuring integrated 4680 Bharat Cell technology, priced at ₹1,69,999 and ₹1,89,999 respectively, with deliveries starting this Navratri.
• S1 Pro Sport: A new entry into the sports scooter category, available in 5.2kWh and 4kWh variants, starting at an introductory price of ₹1,49,999, with deliveries commencing in January.

The 'Ola Celebrates India' campaign underscores Ola Electric's commitment to making electric mobility accessible to a broader range of Indian consumers while celebrating the country's cultural heritage and technological progress.