Ola Electric Launches Qualified Institutional Placement, Prices Shares at Rs 37.74

Ola Electric Launches Qualified Institutions Placement with Floor Price of Rs 37.74

Ola Electric Mobility Ltd announced the launch of its qualified institutions placement (QIP) on Monday, with the company's Fundraising Committee approving a floor price of Rs 37.74 per equity share. The issue opened on June 1, 2026, following approvals granted by the company's board in October 2025 and shareholders through a postal ballot in November 2025.

The Fundraising Committee also approved the preliminary placement document and application form to be issued to eligible qualified institutional buyers. In accordance with SEBI regulations, the floor price has been determined, with June 1 fixed as the relevant date for pricing purposes. The company may offer a discount of up to 5% on the floor price, subject to regulatory provisions and shareholder approval. The final issue price will be determined in consultation with the book-running lead managers.

Ola Electric reported another month of sales recovery, with the company registering 15,139 electric two-wheelers in May, up 23% from 12,323 units in April. This growth outpaced the broader electric two-wheeler industry, which recorded a 15% month-on-month increase in volumes during the same period.

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The company's sales recovery marks the third consecutive month of growth, driven by improvements in retail operations and execution, alongside growing consumer interest in electric vehicles amid rising petrol prices. India's electric two-wheeler market is undergoing a structural transition as rising fuel costs and global energy security concerns encourage consumers to shift towards electric mobility.

Ola Electric remains focused on expanding EV adoption through technology, affordability, scale, and its vertically integrated manufacturing platform covering vehicles, batteries, and cells. The company's shares ended at Rs 39.53 on the BSE on June 1, down Rs 2.04, or 4.91%.

Note: The table shows the sales figures for Ola Electric and the broader electric two-wheeler industry for the months of April and May 2026.

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