Ola Electric Mobility raises ₹780 crore through its QIP - These fund houses were issued shares

Shares of Ola Electric Mobility Ltd. are in focus on Friday, June 5, after the electric vehicle maker said it raised ₹780 crore via its qualified institutional placement (QIP), which was oversubscribed compared to the number of shares on offer.

The company, on Thursday said, its board approved the allotment of 21.75 crore equity shares of face value ₹10 each to the eligible qualified institutional buyers at an issue price of ₹35.86 per equity share (including a premium of ₹25.86 apiece), which was at a 4.98% discount to the floor price of ₹37.74 per equity share.

Who Has Ola Electric Issued Shares In The QIP?

Motilal Oswal, JM Financial, and Mirae Asset MF are the fund houses to whom majority of shares in the QIP have been issued.

Fund	% Of Shares Issued
Mirae Asset MF (Various Schemes)	15.38
Motilal Oswal MF (Various Schemes)	9.61
JM Financial MF (Various Schemes)	5.13

Among the funds issued shares, Mirae Asset MF and Motilal Oswal owned prior stakes of 3.2% and 1.43% in Ola Electric Mobility respectively at the end of the March quarter.

At the end of the March quarter, promoter entities held 34.59% stake in the firm. Of this, founder Bhavish Aggarwal held 27.83%.

Ola Electric had launched the QIP on June 1. It was looking at raising funds up to ₹500 crore, with a possible upsize option,

sources had told CNBC-TV18.

Sources added that the EV maker was looking at using the proceeds for repayment of debt, expenditure incurred with regards to the firm's organic growth initiatives and for general corporate purposes.

Prior Stake Sales

Back on December 16, 2025, Aggarwal had sold 2.6 crore shares in the company via block deals at an average price of ₹34.99 apiece. The following day, he sold an additional 4.2 crore shares.

Prior to the stake sale in December 2025, Ola Electric had said the transactions were to be executed to fully repay a promoter-level loan of ₹260 crore. The value of the two transactions cumulatively was ₹234 crore.

Shares of Ola Electric Mobility ended the previous session 1.55% lower at ₹43.06 apiece. The stock has risen 24.7% in the past month and is up 14.8% this year, so far.

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