Ola Electric Launches Qualified Institutional Placement, Sets Floor Price at ₹37.74 Per Share

Ola Electric Mobility Embarks on Capital-Raising Push

On Monday, 1 June, Ola Electric Mobility opened its qualified institutional placement (QIP) of equity shares, marking a fresh capital-raising push for the company. The move comes after the company received board and shareholder approvals, with the Fund Raising Committee approving the opening of the QIP on 1 June 2026.

The committee's approval follows the board of directors' meeting on 25 October 2025 and a special resolution passed by shareholders through postal ballot on 27 November 2025. The committee determined a floor price of ₹37.74 per equity share, as per SEBI's ICDR Regulations. The Fund Raising Committee also approved and adopted the preliminary placement document dated 1 June 2026 and the application form to be sent to eligible qualified institutional buyers.

Ola Electric noted that, in line with the shareholder approval received through the special resolution passed on 27 November 2025, the company may offer a discount of up to 5% on the floor price calculated for the issue. The final issue price will be determined in consultation with the book-running lead managers appointed for the issue. The trading window for dealing in the company's securities will remain closed until 48 hours after the determination of the issue price, in accordance with insider trading regulations and the company's code of conduct.

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The fundraising comes at a time when the company is shifting its focus towards becoming a broader energy company rather than remaining solely an electric vehicle maker. Ola Electric has faced multiple challenges since its public listing in August 2024, including rising competition from rivals such as Bajaj Auto and TVS Motor Company, regulatory scrutiny over discrepancies between claimed sales and actual vehicle registrations, and continued financial pressure.

The sharp rise in vehicle registrations has put Ola Electric on track for a strong turnaround performance in the ongoing quarter. Registrations in the first quarter of FY27 have already surpassed the company's entire Q4 FY26 tally on the VAHAN vehicle registration portal, signalling a sharp recovery in demand after a weak March quarter. Ola Electric has guided for 40,000–45,000 orders and consolidated revenue of ₹500-550 crore in Q1 FY27, implying a near doubling from Q4 levels if current registration trends continue through June.