Bhavish Aggarwal-Backed Electric Two-Wheeler Company Opens QIP At Rs 37.74 Floor Price; May Offer Up To 5% Discount
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Ola Electric Mobility has opened a qualified institutions placement with a floor price of Rs 37.74 per share, allowing up to a 5 per cent discount, subject to regulatory guidelines.
✨ Key Takeaways
On Tuesday, Indian equity benchmarks traded lower in the morning session, with the benchmark Nifty 50 index declining 0.22 per cent to 23,330.75. Electric vehicle stocks remained in focus following fundraising announcements and corporate developments. In this segment, Ola Electric Mobility share price traded at Rs 38.70 on June 2, 2026, down 2.10 per cent from the previous close, after the company announced the opening of its Qualified Institutions Placement (QIP).
Ola Electric Opens QIP
Ola Electric Mobility Limited informed the exchanges that its Fund Raising Committee has approved the opening of a Qualified Institutions Placement (QIP) of equity shares on June 1, 2026.
The committee approved a floor price of Rs 37.74 per equity share for the issue. The floor price has been determined in accordance with the pricing methodology prescribed under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Ola Electric May Offer a Discount
In line with shareholder approval received earlier, the company has the flexibility to offer a discount of up to 5 per cent on the calculated floor price. The final issue price will be determined by the company in consultation with the book-running lead managers appointed for the issue.
The Fundraising Committee also approved the preliminary placement document and application form for eligible qualified institutional buyers.
Fundraising Approved Earlier
The QIP follows approvals received from the company's Board of Directors at its meeting held on October 25, 2025, and from shareholders through a special resolution passed via postal ballot on November 27, 2025. The company has fixed June 1, 2026, as the relevant date for determining the floor price under applicable SEBI regulations.
Trading Window Closed
Ola Electric stated that the trading window for dealing in its securities has been closed and will remain shut until 48 hours after the determination of the issue price, in accordance with regulatory requirements and the company's code for the prevention of insider trading.
About Ola Electric
Ola Electric Mobility Limited is an electric vehicle manufacturer focused on electric two-wheelers and core EV technologies. The company designs and manufactures electric scooters, battery packs, motors and related components through a vertically integrated operating model. Listed on the NSE and BSE in August 2024, the company has commissioned its Gigafactory and commenced production of its indigenously developed Bharat Cell. Since inception, Ola Electric has reported cumulative sales of approximately 9.7 lakh electric vehicles.
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Disclaimer: The article is for informational purposes only and not investment advice.