The issue received bids worth about Rs 780 crore, with demand from long-only investors, including global names such as Goldman Sachs and BNP Climate Fund, alongside Indian mutual funds such as Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund, and Baroda BNP Paribas Mutual Fund, among others.
The strong response came despite volatile equity markets and signals continued institutional confidence in Ola Electric’s growth strategy, technology roadmap and positioning within India’s electric vehicle sector.
The QIP was launched at an indicative price of Rs 35.86 per share, while the stock closed at Rs 43.06 on the National Stock Exchange on Thursday, more than 20 per cent above the indicative price and above the regulatory floor price of Rs 37.74.
The fundraise strengthens the company’s balance sheet and is expected to support expansion across electric mobility, battery technology development, manufacturing scale-up and product innovation.
The transaction also expands Ola Electric’s institutional shareholder base and underscores investor interest in India’s broader electric vehicle transition, even amid market volatility.
