Funding · Mobility & Logistics

Ola Electric raises ₹780 crore via QIP

What they do

Ola Electric makes electric scooters, motorcycles, and energy storage products

It raised ₹780 crore through a qualified institutional placement (QIP) that was oversubscribed by 56%

The funds will repay debt, support growth, and expand its battery and energy storage business

Ola Electric launched a qualified institutional placement (QIP) on 1 June 2026.
The QIP was completed on 4 June 2026 and was oversubscribed by 56%.
It raised ₹780.24 crore by issuing 21.75 crore equity shares at ₹35.86 per share.
The issue price was a 4.98% discount to the floor price of ₹37.74 per share.
The initial target was ₹500 crore, though the board had approved up to ₹1,500 crore.
After issue expenses of ₹35.37 crore, net proceeds were ₹744.87 crore.
Proceeds will be used: ₹225 crore for debt repayment, ₹335 crore for organic growth, and ₹184.87 crore for general corporate purposes.
Post-issue, the promoter group's stake fell to 32.97% from 34.59%, while institutional investors' share rose to 16.42% from 12.30%.

Ola Electric reported a FY26 net loss of ₹1,833 crore, narrowed from ₹2,276 crore in FY25.
Its FY26 revenue fell to about ₹2,253-2,460 crore from ₹4,514-4,932 crore in FY25.
The company's market share in May 2026 was 8.88%, recovering from a low of 3.5%.
It achieved its first operating cash-flow-positive quarter in Q4 FY26.
The fundraising comes amid continued losses and strong competition in India's electric two-wheeler market.

Ola Electric describes itself as a vertically integrated energy and mobility platform.
It makes electric vehicles, lithium-ion cells, and battery energy storage systems.
Its scooter lineup includes the Ola S1 series (S1 Pro Sport, S1 Pro+, S1 X+, S1 Z, S1 Air, S1 Gig).
Its motorcycle series includes the Roadster X, Roadster X+, Roadster, and Roadster Pro.
Energy storage products include Shakti (4.6 kWh, ₹99,999), Mahashakti (₹99,999), and Shakti Rack (9.2 kWh, ₹1,74,999).
It uses in-house 4680 Bharat Cells in its vehicles to improve range and reduce costs.
It operates 590 service centres and plans to make 1 lakh third-party mechanics EV-ready.
It offers an EMI calculator with tenure up to 60 months and interest rates starting at 6.99%.

The company plans to use ₹225 crore for debt repayment to improve its debt-equity ratio to 0.60x from 0.74x.
It will invest ₹335 crore in organic growth, including manufacturing, R&D, supply chain, retail stores, and service centres.
It aims to expand its vertically integrated EV and energy storage operations.
It will invest in the Ola Futurefactory, Ola Gigafactory, and lithium-ion cell manufacturing.
Energy storage is identified as the next major growth opportunity, targeting residential, commercial, and utility-scale demand.
The company expects its auto business to move towards adjusted operating EBITDA and free cash flow positivity through FY27.