BENGALURU -- Shares in Indian scooter maker Ola Electric Mobility closed at 91 rupees, 20% more than the issuance price, after its tepid market debut on Friday, underscoring investor optimism that the Softbank-backed startup will turn profitable on the road ahead.
IPO
Shares in Indian e-scooter maker Ola close up 20% after tepid debut
Softbank-backed startup yet to make profit despite accelerating sales
Bhavish Aggarwal, CEO of Ola Cabs and founder of Ola Electric, third from left, rings the bell during Ola Electric's listing ceremony at the National Stock Exchange in Mumbai on Aug. 9. © Reuters
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