OLA Electric Mobility on Monday, 1 June, opened its qualified institutional placement (QIP) of equity shares after receiving board and shareholder approvals, signalling a fresh capital-raising push.
In a filing to the exchanges on Monday, the electric two-wheeler maker said its Fund Raising Committee approved the opening of the qualified institutional placement of equity shares on 1 June 2026, following approvals granted by the board of directors at its meeting held on 25 October 2025, and a special resolution passed by shareholders through postal ballot on 27 November 2025.
The committee approved a floor price of ₹37.74 per equity share, determined in accordance with SEBI’s ICDR Regulations.
“The Fund Raising Committee also approved and adopted the preliminary placement document dated June 1, 2026, and the application form to be sent to eligible qualified institutional buyers inviting bids and for the purpose of receiving filled application forms along with application amounts for subscription of equity shares in connection with the issue,” the company said in its exchange filing.
Ola Electric further said that, in line with the shareholder approval received through the special resolution passed on 27 November 2025, the company may, at its discretion, offer a discount of up to 5% on the floor price calculated for the issue.
The company added that the final issue price will be determined in consultation with the book-running lead managers appointed for the issue.
Ola Electric also noted that the trading window for dealing in its securities will remain closed until 48 hours after the determination of the issue price, in accordance with insider trading regulations and the company’s code of conduct.
The fundraising comes at a time when the company is increasingly shifting its focus toward becoming a broader energy company rather than remaining solely an electric vehicle maker, amid a sharp decline in its market share in the electric two-wheeler segment and mounting losses.
Since its public listing in August 2024, the company has faced multiple challenges, including rising competition from rivals such as Bajaj Auto and TVS Motor Company, regulatory scrutiny over discrepancies between claimed sales and actual vehicle registrations, and continued financial pressure.
Ola Electric set for sharp Q1 rebound
The sharp rise in vehicle registrations has put Ola on track for a strong turnaround performance in the ongoing quarter. Registrations in the first quarter of FY27 have already surpassed the company’s entire Q4 FY26 tally on the VAHAN vehicle registration portal, signalling a sharp recovery in demand after a weak March quarter.
Ola Electric has recorded around 22,600 registrations so far in Q1FY27, exceeding the 22,221 units registered in Q4FY26, with nearly 40 days still remaining in the quarter, PTI reported, citing VAHAN data.
The rebound follows what the company had previously described as a low-volume quarter marked by an operational reset and service stabilisation efforts.
Ola Electric has guided for 40,000–45,000 orders and consolidated revenue of ₹500-550 crore in Q1 FY27, implying a near doubling from Q4 levels if current registration trends continue through June.
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