Ola Electric QIP opens at Rs 37.74; to raise up to Rs 1,500 cr

New Delhi, Jun 1 (PTI) Ola Electric Mobility on Monday opened its qualified institutional placement (QIP) issue at a floor price of Rs 37.74 per share as it moves ahead with plans to raise up to Rs 1,500 crore.

The company’s board, in a meeting on Monday, approved a proposal, “authorising the opening of the issue today, i.e. June 1, 2026”, Ola Electric said in a regulatory filing.

It also approved a “floor price of Rs 37.74 per equity share for the issue”, which is calculated based on the pricing formula as prescribed under SEBI ICDR Regulations and other applicable provisions, it said.

The equity shares offered under the QIP carry a face value of Rs 10 each and are being issued to qualified institutional buyers.

Shares of Ola Electric closed 4.91

per cent lower at Rs 39.53 apiece on the BSE on Monday.

The closing price was 4.74 per cent higher than the QIP floor price.

In the last 52 weeks, its highest price hit Rs 71.24 on September 4, 2025, and the lowest price of Rs 21.21 on March 2, 2026.

Earlier on October 25, 2025, the Bhavish Aggarwal-led firm had said its board had approved raising up to Rs 1,500 crore via an issue of securities.

The company’s board has considered and approved a proposal for raising funds by issue of shares, or convertible securities, including warrants via rights issue, qualified institutional placement, private placement and/ or any other permitted modes under applicable laws for an aggregate consideration of up to Rs 1,500 crore, Ola Electric had said in a regulatory filing. PTI KRH KRH BAL BAL