Rivian now becomes the World's biggest IPO 2021 and most known brand in the automaker industry after Tesla.
Rivian is the second most valuable US automaker after Tesla. They are counted on number one in the list of the world's biggest IPO raised about $12 billion (roughly 89,372 crores). They are investing actively to boost their productivity.
If we talk about the share or Rivian they surged as much as their 53% in its Nasdaq on 11th November (today), by giving the amazon-backed electric vehicle maker the market valuation of more than $100 billion after becoming the world's biggest IPO.
Rivian closed their shares at $100.73 making a nearly 30% jump from their offering price.
That made Rivian the 2nd most valuable US automaker after Tesla with worth $1.06 trillion. With the business of selling vehicles, they are also ahead of general motors at $86.05 billion. Lucid at $65.96 billion and Ford at $77.37 billion.
The Rivian IPO raised about $12 billion to fund growth and that figure could rise to $13.7 billion if the full of over-allotment of Rivian shares is exercised.