Ola Electric Opens QIP To Raise ₹500 Crore At ₹37.74 Floor Price

Ola Electric Mobility Ltd on Monday launched its Qualified Institutional Placement (QIP) to raise around ₹500 crore, marking a fresh capital raise from institutional investors as the electric two-wheeler maker looks to strengthen its balance sheet and fund growth plans.

QIP Opens With Floor Price Of ₹37.74 Per Share

The company’s Fund Raising Committee approved the opening of the issue on 1 June 2026 and fixed the floor price at ₹37.74 per equity share, according to its stock exchange filing. The floor price has been determined under the SEBI ICDR Regulations, with 1 June 2026 set as the relevant date for pricing.

The QIP issue comprises nearly 13.9 crore equity shares, as Ola Electric aims to bring in fresh institutional capital through the placement route. The company has also kept the option open to offer a discount of up to 5% on the floor price, subject to regulatory provisions and shareholder approval. At the maximum discount, the indicative issue price works out to around ₹35.86 per share.

Issue Price Trades At Discount To Market Closing

The indicative pricing represents a discount of roughly 9.3% to Ola Electric’s share were down by 2.26%, trading at ₹38.64 on 2 June 2026 at 11:00 AM.

Ola Electric said the final issue price will be decided in consultation with the book-running lead managers based on investor demand during the book-building process. The company also noted that its trading window for dealing in securities will remain shut until 48 hours after the issue price is finalised, in line with insider trading regulations.

Sales Recovery Gains Pace Amid Fundraising Push

The fundraising comes alongside improving operating momentum for the company. According to VAHAN data, Ola Electric registered 15,139 electric two-wheelers in May 2026, compared with 12,323 units in April, reflecting a 23% month-on-month rise. This outpaced the broader electric two-wheeler industry’s 15% growth during the same period and marked Ola Electric’s third straight month of sales recovery.

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The company said it remains focused on expanding electric vehicle adoption through affordability, technology, scale, and its vertically integrated platform across vehicles, batteries, and cell manufacturing.

Sources:

Moneycontrol

Mint

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