At the NSE, shares of the firm surged 10% to hit the highest trading permissible limit for the day at INR 118.36.
The company's market valuation stood at INR 52,091.90 crore.
Shares of Bhavish Aggarwal-led Ola Electric Mobility Ltd made the market debut on August 9 this year.
The stock has so far zoomed 55.39% from the issue price of INR 76.
The INR 6,145-crore initial public offering of Ola Electric Mobility received 4.27 times subscription last month.
The initial share sale had a price band of INR 72-76 per share.
Ola Electric manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory.
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