Ola Electric Mobility QIP News: Shares of Ola Electric Mobility Ltd fell nearly 3.17 per cent from its day’s high of Rs 39.40 on the BSE on Tuesday, June 2. The decline in the shares of the electric vehicle manufacturer came a day after it approved the launch of its Qualified Institutional Placement (QIP) to raise funds.
“We wish to inform you that pursuant to the approval accorded by the Board of Directors of the Company (the “Board”), at its meeting held on October 25, 2025, and the special resolution passed by the members of the Company by way of postal ballot on November 27, 2025, the Fund Raising Committee of the Board (the “Fund Raising Committee”) has, at its meeting held today, i.e. June 1, 2026, inter alia, considered and approved the following: (a) Authorising the opening of the Issue today i.e. June 1, 2026; (b) approving and adopting of 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 in application forms along with application amounts for subscription of Equity Shares in connection with the Issue; and (c) approving the floor price of ₹37.74 per Equity Share for the Issue, calculated based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations and other applicable provisions of the SEBI ICDR Regulations,” Ola Electric Mobility said in an exchange filing on Monday.
According to the permitted Sebi regulations, the company may offer a discount of up to 5 per cent on the floor price.
“The Issue Price will be determined by the Company in consultation with the book running lead managers appointed in relation to the Issue,” it added in the filing.
The company, however, did not reveal the total size of the QIP in its exchange filing. The issue price and the amount to be raised will be finalised after the book-building process with institutional investors.
Qualified institutional placements (QIPs) provide listed companies with a faster, more cost-efficient way to raise capital by bypassing extensive pre-issue regulatory filings. QIPs aim to reduce companies’ reliance on foreign investments. By leveraging domestic markets, QIPs facilitate quicker access to funds while balancing regulatory oversight with operational flexibility.
Ola Electric QIP News: Trading window closure
Ola Electric, in the regulatory filing, stated the trading window for dealing in the company’s securities will remain closed until 48 hours after the determination of the issue price, in accordance with applicable regulatory requirements and the code.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
