Ola Electric Mobility Limited has announced the successful closure of its Qualified Institutions Placement (QIP) issue on June 4, 2026. The Fund Raising Committee of the Board, in its meeting held on the same day, approved the allocation of 217,578,428 Equity Shares at an issue price of ₹35.86 per Equity Share. This issue price includes a premium of ₹25.86 per Equity Share and represents a discount of 4.98% (₹1.88 per Equity Share) to the floor price of ₹37.74 per Equity Share, as determined by the pricing formula under Regulation 176(1) of the SEBI ICDR Regulations. The total amount raised through this placement is approximately ₹780 crore. The company will issue a confirmation of allocation note to the eligible Qualified Institutional Buyers (QIBs) and has approved the placement document dated June 4, 2026, which will be filed with the stock exchanges and made available on the company's website. The Fund Raising Committee meeting commenced at 07:30 p.m. (IST) and concluded at 07:45 p.m. (IST).
