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Ola Electric said in line with regulatory provisions and shareholder approval, it may offer a discount of up to 5% on the floor price. Shares of Ola Electric Mobility Ltd ended at ₹39.53, down by ₹4.91, or 2.04%, on the BSE today, June 1.
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Ola Electric Mobility Ltd on Monday (June 1) said its Fundraising Committee has approved the opening of a qualified institutions placement (QIP) of equity shares and fixed a floor price of ₹37.74 per share.
The company said the issue was opened on June 1, 2026, following approvals from the board of directors at its meeting held on October 25, 2025, and a special resolution passed by members through postal ballot on November 27, 2025.
The Fundraising Committee also approved and adopted the preliminary placement document dated June 1, 2026, and the application form to be issued to eligible qualified institutional buyers for receiving bids and application amounts for subscription of equity shares.
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The floor price of ₹37.74 per equity share has been calculated based on the pricing formula under SEBI ICDR Regulations. The company stated that June 1, 2026, has been fixed as the relevant date for the determination of the floor price.
Ola Electric said in line with regulatory provisions and shareholder approval, it may offer a discount of up to 5% on the floor price. The final issue price will be determined in consultation with the book-running lead managers. The preliminary placement document dated June 1, 2026, will be filed with the stock exchanges and hosted on the company’s website.
Earlier on Monday, Ola Electric Mobility's retail data in May was the highest in seven months at 15,139 units. While the retail numbers declined 20% from the previous year, they increased 23% from the previous month's 12,323 units, as per the VAHAN data. This is also the third consecutive monthly growth for the automaker.
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Ola Electric's volumes in April and May were 27,462 units. The company has given a volume guidance of 40,000 to 45,000 units in the first quarter of the financial year 2027. Its volumes need to be more than 12,540 units in June to achieve this first-quarter guidance.
Shares of Ola Electric Mobility Ltd ended at ₹39.53, down by ₹4.91, or 2.04%, on the BSE today, June 1.
(Edited by : Shoma Bhattacharjee)
