Ola Electric Raises ₹780 Cr via QIP, Allots 21.7 Cr Shares

Ola Electric Mobility Limited successfully raised approximately ₹780.24 crore through a Qualified Institutions Placement (QIP). The company's Fund Raising Committee approved the allotment of 217,578,428 equity shares at an issue price of ₹35.86 per share. This issuance increases the company's paid-up equity share capital and was made to eligible qualified institutional buyers. The issue price reflects a discount to the floor price determined as per SEBI regulations. The total amount raised aggregates to ₹780.24 crore.