Electric two wheeler maker Ola Electric Mobility on Monday launched its qualified institutional placement (QIP), setting a floor price of Rs 37.74 per share, a 4.5% discount to its closing price of Rs 39.53 on the BSE, according to a stock exchange filing. The company's shares ended the day 5% lower than Friday's close.
In October, Ola Electric's board approved a plan to raise up to Rs 1,500 crore through a QIP, though people familiar with the matter said the company may ultimately raise a smaller amount.
Depending on investor demand, Ola Electric may also offer a discount of up to 5% on the floor price, according to the filing.
The company currently has a market capitalisation of Rs 17,436 crore. It had raised Rs 5,500 crore in fresh capital through its initial public offering (IPO) in August 2024.
