Ola Electric Raises ₹780 Cr via Oversubscribed QIP

Ola Electric has successfully closed its qualified institutional placement at ₹780 crore, significantly exceeding its initial target of ₹500 crore. The company allotted 21.76 crore equity shares to eligible qualified institutional buyers at ₹35.86 per share — a 4.98% discount to the SEBI-prescribed floor price of ₹37.74 per share, which includes a premium of ₹25.86 over the ₹10 face value.

The QIP, launched on June 1 with its Fund Raising Committee setting the floor price, attracted a mix of global and domestic institutional 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 oversubscription signals renewed institutional confidence in the company despite ongoing financial challenges.

On the operational front, Ola Electric has reported consecutive months of recovery in the electric two-wheeler segment. After its market share fell to a low of 3.5%, the company has posted over 20% month-on-month growth in registrations for two straight months. In May 2026, unit sales reached 15,139, lifting its market share to 8.88%.

The fundraise comes against a mixed financial backdrop. In Q4 FY26, operating revenue fell more than 56% year-on-year to ₹265 crore from ₹611 crore in the same quarter the previous year, while the company posted a quarterly loss of approximately ₹500 crore. Shares of Ola Electric closed at ₹43.06 on Thursday, above the QIP issue price.