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What is the story about?
Shares of Ola Electric Mobility Ltd. are in focus on Tuesday, June 2, after the company launched its qualified institutional placement (QIP) to raise funds.
The company is looking at raising funds up to ₹500 crore, with a possible upsize option, people in the know told CNBC-TV18. While the SEBI floor price is ₹37.74 per equity share, the indicative issue price is ₹35.86 per equity share, sources said. This is a discount of 9.28% from its previous closing price.
Ola Electric is looking at using the proceeds for debt repayment, expenditure incurred in relation to the firm's organic growth initiatives and for general corporate purposes, the sources added.
Ola Electric on Monday informed the exchanges that it had launched the QIP and fixed ₹37.74 apiece as the floor price.
At the end of the March quarter, promoter entities held 34.59% stake in Ola Electric Mobility. Of this, promoter Bhavish Aggarwal held 27.83% stake, as per data available on the exchanges.
On December 16, 2025, the Ola Electric founder had sold 2.6 crore shares via a block deal at an average price of ₹34.99 per share. The next day, Aggarwal sold an additional 4.2 crore shares. This was within less than two years of offloading 4.7 crore shares in the firm via the primary market.
Prior to the December 2025 stake sale, Ola Electric had stated that the transactions were executed to fully repay a promoter-level loan of ₹260 crore. The two transactions had a combined valuation of ₹234 crore.
Ola Electric added that the share sale was a one-time, limited monetization of the founder's personal stake to fully settle the loan. The competition of the transactions would lead to all previously pledged 3.93% shares to be released, removing a critical overhang on the stock, it said.
Shares of Ola Electric Mobility Ltd. ended the previous session 4.9% lower at ₹39.47 apiece. The stock has risen 8.4% in the past month. Shares still trade well below their issue price of ₹76 and their post-listing high of ₹157.
Also Read: KRN Heat Exchangers raises ₹350 crore at nearly 5x its IPO price; ADIA among investors
The company is looking at raising funds up to ₹500 crore, with a possible upsize option, people in the know told CNBC-TV18. While the SEBI floor price is ₹37.74 per equity share, the indicative issue price is ₹35.86 per equity share, sources said. This is a discount of 9.28% from its previous closing price.
Ola Electric is looking at using the proceeds for debt repayment, expenditure incurred in relation to the firm's organic growth initiatives and for general corporate purposes, the sources added.
Ola Electric on Monday informed the exchanges that it had launched the QIP and fixed ₹37.74 apiece as the floor price.
At the end of the March quarter, promoter entities held 34.59% stake in Ola Electric Mobility. Of this, promoter Bhavish Aggarwal held 27.83% stake, as per data available on the exchanges.
On December 16, 2025, the Ola Electric founder had sold 2.6 crore shares via a block deal at an average price of ₹34.99 per share. The next day, Aggarwal sold an additional 4.2 crore shares. This was within less than two years of offloading 4.7 crore shares in the firm via the primary market.
Prior to the December 2025 stake sale, Ola Electric had stated that the transactions were executed to fully repay a promoter-level loan of ₹260 crore. The two transactions had a combined valuation of ₹234 crore.
Ola Electric added that the share sale was a one-time, limited monetization of the founder's personal stake to fully settle the loan. The competition of the transactions would lead to all previously pledged 3.93% shares to be released, removing a critical overhang on the stock, it said.
Shares of Ola Electric Mobility Ltd. ended the previous session 4.9% lower at ₹39.47 apiece. The stock has risen 8.4% in the past month. Shares still trade well below their issue price of ₹76 and their post-listing high of ₹157.
Also Read: KRN Heat Exchangers raises ₹350 crore at nearly 5x its IPO price; ADIA among investors
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