Ola Electric Mobility Limited’s Fund Raising Committee has approved the opening of a qualified institutions placement of equity shares. The committee set a floor price of ₹37.74 per equity share, calculated based on SEBI regulations. The issue aims to raise capital by offering shares to eligible institutional buyers, with the final issue price to be determined in consultation with book running lead managers. The trading window remains closed until 48 hours after the issue price determination.
Ola Electric Approves Qualified Institutions Placement
Ola Electric Mobility Limited announced today, June 1, 2026, that its Fund Raising Committee has approved the opening of a qualified institutions placement of equity shares. This placement is being conducted under Chapter VI of the SEBI ICDR Regulations and relevant sections of the Companies Act, 2013.
Key Approvals and Dates
The Board of Directors had previously approved this initiative on October 25, 2025, followed by a special resolution passed by the company’s members via postal ballot on November 27, 2025. The Fund Raising Committee, in its meeting held today, has inter alia:
- Authorized the opening of the Issue, effective June 1, 2026.
- Approved and adopted the preliminary placement document dated June 1, 2026, and the associated application form for eligible qualified institutional buyers.
Pricing and Future Steps
A significant aspect of the approval is the setting of a floor price of ₹37.74 per Equity Share for the Issue. This price is calculated based on the pricing formula stipulated under Regulation 176(1) of the SEBI ICDR Regulations. The “Relevant Date” for determining this floor price was fixed as June 1, 2026. In accordance with member approval, the Company may offer a discount of up to 5% on this floor price. The final issue price will be determined in consultation with the book running lead managers.
Trading Window Closure
In line with the Company’s Code of Conduct for Prevention of Insider Trading, the trading window for dealing in the Company’s securities has been closed and will remain shut until 48 hours after the determination of the issue price.
The preliminary placement document will be filed with the stock exchanges today, and the intimation will also be hosted on the Company’s website, www.olaelectric.com.
Source: BSE
