EV two-wheeler maker Ola Electric has raised ₹780 crore through a Qualified Institutional Placement (QIP), attracting participation from investors including Goldman Sachs, BNP Climate Fund, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund and Baroda BNP Paribas Mutual Fund, among others.
According to an exchange filing, the company allotted 21.8 crore equity shares at an issue price of ₹35.86 per share.
Mirae Asset received the largest allocation, accounting for 15.38 per cent of the issue through multiple schemes, followed by Motilal Oswal Mutual Fund with 9.61 per cent. JM Financial Mutual Fund was allotted 5.13 per cent through various schemes.
The QIP was launched earlier this week as the company sought to raise capital for future growth and expansion initiatives. Ola Electric had announced the issue on June 1, targeting a fundraise of around ₹500 crore.
The company has been focusing on reducing losses and improving operational efficiency. For the fourth quarter of FY26, its net loss narrowed to ₹500 crore from ₹870 crore in the corresponding quarter of the previous year. Revenue, however, declined 56 per cent year-on-year to ₹265 crore.
The company has guided for revenue of ₹500-550 crore in the first quarter of FY27 and plans to increase order volumes to around 45,000 units.