Secondary Issues
Ola Electric opens QIP; sets floor price of Rs.37.74 Cr
Bengaluru-based electric scooter maker Ola Electric has launched a qualified institutional placement (QIP) with a floor price of INR 37.74 (a 4.53% discount compared to its closing share price on the day of the announcement).The company plans to use the net proceeds from the issue to repay or prepay existing borrowings of both the parent entity and its material subsidiaries. As of May 20, 2026, the company and its subsidiaries had sanctioned loans totaling INR 2,520 crore, with an outstanding balance of INR 1,637.61 crore.Ola Electric also intends to use the capital to scale its vertically integrated operations, including manufacturing, research and development, and customer acquisition. For the fiscal year 2026, the company reported a net loss of INR 1,833 crore on an operating revenue of INR 2,460 crore.
Between Feb 2019 and Jun 2024, Ola Electric had attracted about $ 1,065 M from Arun Sarin Family, Ratan Tata, Tiger Global, Z47, Munjal Family Office, SoftBank Corp, Alpha Wave Global, 360 ONE, Edelweiss Private Equity, Temasek, Alpine Capital, Archerman Capital, Tekne Capital Management, EvolutionX Debt Capital, Alteria Capital and others.
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