Ola Electric raises Rs 780 Cr via QIP, issue oversubscribed by 56%
- ByStartupStory | June 8, 2026
Ola Electric has raised Rs 780 crore through a Qualified Institutional Placement (QIP), with the issue being oversubscribed by 56% against its initial fundraising target of Rs 500 crore.
According to a stock exchange filing, the company allotted 21.76 crore equity shares to eligible qualified institutional buyers (QIBs) at an issue price of Rs 35.86 per share, including a premium of Rs 25.86 per share. The issue price represents a discount of 4.98% (Rs 1.88 per share) to the floor price of Rs 37.74 per share prescribed under SEBI regulations.
The QIP reportedly saw participation from 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.
Ola Electric launched its qualified institutional placement (QIP) on June 1, with its Fund Raising Committee setting the floor price at Rs 37.74 per equity share.
The fundraise comes as Ola Electric shows signs of a recovery in the electric two-wheeler market. After months of declining sales that saw its market share fall to as low as 3.5%, the company has posted over 20% month-on-month growth in registrations for two consecutive months. In May 2026, Ola Electric sold 15,139 units, helping its market share improve to 8.88%.
On the financial front, in Q4 FY26, Ola Electric’s operating revenue fell more than 56% year-on-year to Rs 265 crore from Rs 611 crore in Q4 FY25, while the company reported a loss of around Rs 500 crore for the quarter.
At the close of trading on Thursday, the shares of Ola Electric closed at Rs 43.06 per share, giving the company a market capitalization of Rs 18,993 crore (around $2 billion).
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