Ola Electric Shares Slip 2% After Launching QIP At Discounted Floor Price

Shares of Ola Electric Mobility fell more than 2% in early trade on Tuesday after the company launched its qualified institutional placement (QIP) and fixed the issue's floor price at a discount to the prevailing market price.

The stock declined as much as 2.02% to ₹38.73 apiece during the session. Ola Electric shares opened at ₹38.40 compared with the previous close of ₹39.53 on the BSE.

The electric two-wheeler maker on Monday launched its QIP after securing the necessary approvals from both its board and shareholders, marking the next phase of its capital-raising plans.

According to an exchange filing, the company's Fund Raising Committee approved the opening of the issue following board approval received on October 25, 2025, and a special resolution passed by shareholders through a postal ballot on November 27, 2025.

QIP Opens

The committee fixed the floor price for the issue at ₹37.74 per equity share, representing a discount of 4.74% to Monday's closing price.

The company also approved and adopted the preliminary placement document dated June 1, 2026, along with the application form to be circulated among eligible qualified institutional buyers.

"The Fund Raising Committee also approved and adopted the preliminary placement document dated June 1, 2026, and the application form to be sent to eligible qualified institutional buyers," Ola Electric said in its filing.

The company further stated that, in line with shareholder approval obtained in November 2025, 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 handling the issue.

Institutional Fund Raise

A QIP enables listed companies to raise capital from institutional investors such as mutual funds, insurance companies, sovereign wealth funds and foreign portfolio investors without undertaking a public issue.

The opening of the QIP comes as Ola Electric continues to strengthen its balance sheet and fund future growth initiatives in the highly competitive electric vehicle market.

Despite Tuesday's decline, the stock has delivered strong gains in recent months. Ola Electric shares have risen more than 4% over the past week and around 7% in the last month.

The stock has gained nearly 62.5% over the past three months, although it remains down 2.2% over six months and about 27% lower compared with a year ago.