Qualified institutional placement · Mobility
Ola Electric raises ₹780 crore through institutional share placement
The June equity issue exceeded its ₹500 crore target by 56%, with global and Indian institutions participating.
Capital from public-market investors
Ola Electric allotted about 21.76 crore shares at ₹35.86 each through a qualified institutional placement. The price was 4.98% below the regulatory floor price. The issue opened on June 1 and was completed by June 4.
Reported participants include Goldman Sachs, BNP Climate Fund, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund and JM Financial Mutual Fund. The electric two-wheeler maker raised the capital as vehicle registrations recovered from earlier declines.
Funding history
Qualified institutional placement · This round₹7.8B