Secondary Issues
Ola Electric raises Rs.780-Cr through QIP
Bengaluru-based Ola Electric Mobility has raised INR 780 crore through a qualified institutional placement (QIP), exceeding its initial target of INR 500 crore. The transaction involved the allotment of 217.6 million shares to institutional investors at INR 35.86 per share. The institutional investors participating in the round included Goldman Sachs, BNP Climate Fund, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund, and Baroda BNP Paribas Mutual Fund. The company intends to use the proceeds to fund debt repayment and growth initiatives.
Between Feb 2019 and Jun 2024,Ola Electric had attracted about $ 1065 M from Alteria Capital, EvolutionX Debt Capital, Tekne Capital Management, Temasek, Tiger Global, Alpha Wave Global, Alpine Capital, Archerman Capital, Edelweiss Private Equity, 360 ONE, SoftBank Corp, Munjal Family Office, Arun Sarin Family, Ratan Tata, Z47, Others .For FY26, Ola Electric had reported about INR 71,345 Cr in Operating Income and about INR 12,129 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
