Ola Electric QIP Oversubscribed; Company Raises INR 780 Cr
The QIP, launched on June 1, attracted global and domestic investors, including Goldman Sachs, BNP Climate Fund, Motilal Oswal, Mirae Asset, Kotak Mahindra, and JM Financial mutual funds.
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Ola Electric has raised INR 780 crore through a qualified institutional placement (QIP), exceeding its initial target of INR 500 crore. The issue was oversubscribed by 56%, indicating strong demand from institutional investors.
According to a stock exchange filing, the company allotted 21.76 crore equity shares to qualified institutional buyers at an issue price of INR 35.86 per share, including a premium of INR 25.86 per share. The issue price was set at a discount of 4.98% (INR 1.88 per share) compared to the floor price of INR 37.74 determined under SEBI regulations.
The QIP, which opened on June 1, saw participation from a mix of global and domestic investors, including Goldman Sachs, BNP Climate Fund, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, and JM Financial Mutual Fund.
The fundraising comes as Ola Electric shows early signs of recovery in the electric two-wheeler market. After months of declining sales that reduced its market share to 3.5%, the company has reported over 20% month-on-month growth in registrations for two consecutive months. In May 2026, Ola Electric sold 15,139 units, improving its market share to 8.88%.
However, the company continues to face financial pressure. In the fourth quarter of FY26, its operating revenue declined by more than 56% year-on-year to INR 265 crore, down from INR 611 crore in the same period last year. It also reported a loss of around INR 500 crore for the quarter.
On Thursday, Ola Electric’s shares closed at INR 43.06, giving the company a market capitalisation of approximately INR 18,993 crore (about USD 2 billion).
Ola Electric has raised INR 780 crore through a qualified institutional placement (QIP), exceeding its initial target of INR 500 crore. The issue was oversubscribed by 56%, indicating strong demand from institutional investors.
According to a stock exchange filing, the company allotted 21.76 crore equity shares to qualified institutional buyers at an issue price of INR 35.86 per share, including a premium of INR 25.86 per share. The issue price was set at a discount of 4.98% (INR 1.88 per share) compared to the floor price of INR 37.74 determined under SEBI regulations.
The QIP, which opened on June 1, saw participation from a mix of global and domestic investors, including Goldman Sachs, BNP Climate Fund, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, and JM Financial Mutual Fund.
The fundraising comes as Ola Electric shows early signs of recovery in the electric two-wheeler market. After months of declining sales that reduced its market share to 3.5%, the company has reported over 20% month-on-month growth in registrations for two consecutive months. In May 2026, Ola Electric sold 15,139 units, improving its market share to 8.88%.
However, the company continues to face financial pressure. In the fourth quarter of FY26, its operating revenue declined by more than 56% year-on-year to INR 265 crore, down from INR 611 crore in the same period last year. It also reported a loss of around INR 500 crore for the quarter.
On Thursday, Ola Electric’s shares closed at INR 43.06, giving the company a market capitalisation of approximately INR 18,993 crore (about USD 2 billion).
