The company's Fund Raising Committee, at its meeting held on 1 June 2026, approved the opening of the issue and adopted the preliminary placement document and application form to be circulated to eligible qualified institutional buyers.

The committee also approved a floor price of Rs 37.74 per equity share for the issue. The floor price is at 3.23% to the ruling market price and it is at a discount of 4.53% to the previous session's closing price of Rs 39.53.

Ola Electric said it may offer a discount of up to 5% on the floor price, subject to regulatory provisions and shareholder approval obtained in November 2025. The final issue price will be determined by the company in consultation with the book-running lead managers.

The company has fixed 1 June 2026 as the relevant date for determining the floor price of the QIP.

The fundraising exercise follows approvals granted by the company's board in October 2025 and by shareholders through a special resolution passed in November 2025.

Ola Electric Mobility is India's leading electric vehicle (EV) manufacturer. It specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells.

The company posted a consolidated net loss of Rs 500 crore in Q4 FY26 compared with a net loss of Rs 870 crore in Q4 FY25 and Rs 487 crore in Q3 FY26. Revenue from operations declined 56.6% YoY and 43.6% QoQ to Rs 265 crore in the March 2026 quarter.

Ola Electric announced sustained growth momentum in May 2026, with registrations rising to 15,139 units, up from 12,323 units in April, according to VAHAN data. It represents a 23% MoM increase, building on the recovery momentum seen in the months of March and April 2026.