Ola Electric Mobility said that the Rs 780 crore qualified institutional placement (QIP), which was oversubscribed in relation to the shares issued, had been successfully completed.
The manufacturer of electric two-wheelers announced that its board had approved the distribution of 21.75 crore equity shares, each having a face value of Rs 10, to qualified institutional buyers who meet the eligibility requirements. The shares would be issued at a price of Rs 35.86 per share, which includes a premium of Rs 25.86. The floor price of Rs 37.74 per share was 4.98 percent less than the issue price.
Motilal Oswal Mutual Fund, JM Financial, and Mirae Asset Mutual Fund were among the major institutional investors that took part in the QIP and earned a sizable share allocation.
As of the conclusion of the March quarter, Mirae Asset Mutual Fund and Motilal Oswal Mutual Fund held 3.2% and 1.43% of the company’s shares, respectively.
As of March 2026, promoter entities owned 34.59 percent of Ola Electric, according to the most recent shareholder data. Bhavish Aggarwal, the company’s founder, held 27.83 percent of the business.
Months after Aggarwal lowered his ownership through a string of block sales in December 2025, the financing is taking place. He sold 2.6 crore shares on December 16 at an average price of Rs 34.99 each. The next day, he sold an additional 4.2 crore shares.
The company had claimed at the time that the transactions were made to enable the full repayment of a Rs 260 crore promoter-level loan. The two stake-sale transactions had a combined value of about Rs 234 crore.
Ola Electric’s shares closed Thursday’s trading session at Rs 43.06, down 1.55%. The stock is up 14.8% so far in 2026 and has gained 24.7% over the last month despite recent volatility.
In the face of growing competition in India’s electric vehicle sector, the successful QIP is anticipated to improve the company’s balance sheet and supply more funding to support its expansion goals.
