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.
What happened
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
Key facts
- ₹780 crore raised
- 217.6 million shares
- ₹35.86 per share
- 4.98% discount to ₹37.74 floor
- Q4 net loss ₹500 crore
- revenue ₹265 crore down 56.6% YoY
- revenue down 43.6% QoQ
Why this matters
Oversubscribed QIP despite collapsing topline shows capital availability for EV pure-plays — a window worth testing for strategic raises or partnership leverage.