Ola Electric Secures Rs 780 Crore Through QIP

Ola Electric has successfully raised Rs 780 crore via a Qualified Institutional Placement (QIP), with the issue being oversubscribed by 56% compared to its initial target of Rs 500 crore. As disclosed in a stock exchange filing, the company issued 21.76 crore equity shares to qualified institutional buyers (QIBs) at an issue price of Rs 35.86 per share, which includes a premium of Rs 25.86 per share. This issue price indicates a discount of 4.98%, or Rs 1.88 per share, in relation to the floor price of Rs 37.74 set under SEBI regulations.

Participation in the QIP

The QIP garnered attention from a variety of global and domestic institutional investors, including notable names such as Goldman Sachs, BNP Climate Fund, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, and JM Financial Mutual Fund. Ola Electric initiated its QIP process on June 1, with its Fund Raising Committee establishing the floor price at Rs 37.74 per equity share.

Market Recovery

This fundraising effort comes at a time when Ola Electric is demonstrating positive trends in the electric two-wheeler sector. After experiencing a dip in sales that reduced its market share to 3.5%, the company has recorded over 20% month-on-month growth in registrations for two consecutive months. In May 2026, Ola Electric sold 15,139 units, which boosted its market share to 8.88%.

Financial Performance

Financially, in Q4 FY26, Ola Electric’s operating revenue dropped more than 56% year-on-year, declining from Rs 611 crore in Q4 FY25 to Rs 265 crore in Q4 FY26. The company reported a quarterly loss of around Rs 500 crore. By the end of trading on Thursday, the shares of Ola Electric were valued at Rs 43.06 each, resulting in a market capitalisation of Rs 18,993 crore (approximately $2 billion).