Ola makes stock market debut , CEO Bhavish Aggarwal’s wife rings the bell

Ola Electric Mobility made its stock exchange debut today (August 9). Ola’s Initial Public Offering (IPO) is the first by an electric vehicle maker. The listing offers a fresh issue of up to Rs 5,500 crore and an Offer-for-Sale (OFS) of up to 8,49,41,997 equity shares. The company is looking to use Rs 1,600 crore from the fresh fund on research and product development, another Rs 800 crore will be deployed to repay debts and Rs 350 crore for organic growth initiatives.