Shares of Ola Electric Mobility fell as much as 4 per cent in intraday trade today after the company announced the launch of a qualified institutional placement (QIP) to raise funds. The stock opened lower with a cut of 3 per cent at ₹38.50 on the National Stock Exchange (NSE) and slipped to a low of ₹38.08. As of 11:30 AM, shares of the electric two-wheeler manufacturer were trading 2.15 per cent lower at ₹38.68, with nearly 44 million equities changing hands, according to NSE data. Ola Electric shares have been a laggard on the bourses, delivering negative returns to investors over the past year. As per NSE data, the stock has corrected 27 per cent in one year, significantly underperforming the benchmark Nifty 50, which has fallen 5.5 per cent. At CMP, the stock trades about 50 per cent below its initial public offering (IPO) price of ₹76.
Earlier on Monday, Ola Electric announced the opening of opened its QIP issue at a floor price of ₹37.74 per share as it moves ahead with plans to raise funds. The equity shares offered under the QIP carry a face value of ₹10 each and are being issued to qualified institutional buyers, the company said, without disclosing the total size of the QIP. It, however, said that the company may at its discretion offer a discount of not more than 5 per cent on the floor price so calculated for the issue. “The issue price will be determined by the company in consultation with the book running lead managers appointed in relation to the Issue.”
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Earlier in October 2025, the Bhavish Aggarwal-led firm had said its board had approved raising up to ₹1,500 crore via an issue of securities.
The company’s board has considered and approved a proposal for raising funds by issue of shares, or convertible securities, including warrants via rights issue, qualified institutional placement, private placement and/ or any other permitted modes under applicable laws for an aggregate consideration of up to ₹1,500 crore, Ola Electric had said in a regulatory filing.
In another related development, Ola Electric’s registrations rose to 15,139 units in May, from 12,323 units in April, a 23 per cent month-on-month increase, according to VAHAN data.
