Ola Electric Raises Rs 780 Crore via QIP, 56% Oversubscribed Above Rs 500 Crore Target
Ola Electric priced its QIP at Rs 35.86 per share, allotting 21.8 crore shares to institutional investors including Mirae Asset, Motilal Oswal and JM Financial. Proceeds will shore up the balance sheet and fund manufacturing scale-up to 6 GWh by FY27, against a Q4 net loss of Rs 500 crore on Rs 265 crore revenue.
Ola Electric raised Rs 780 crore via QIP at Rs 35.86 per share, 56% oversubscribed, exceeding its Rs 500 crore target. Funds will strengthen balance sheet and support EV manufacturing expansion to 6 GWh by FY27.