Ola Electric pulls in ₹780 cr QIP at 5% discount as revenue halves
Ola Electric raised ₹780 crore via QIP, oversubscribing its ₹500 crore target. Goldman Sachs, BNP Climate Fund and four domestic MFs took 217.6 million shares at ₹35.86 — a 4.98% discount to floor. Cash arrives as Q4 revenue fell 56.6% YoY to ₹265 crore and net loss narrowed to ₹500 crore.
Ola Electric raised ₹780 crore via QIP, exceeding its ₹500 crore target, allotting 217.6 million shares at ₹35.86 to Goldman Sachs, BNP, and domestic mutual funds, amid a 56.6% YoY revenue decline and narrowed ₹500 crore quarterly loss.