Ola Electric, an Indian electric two-wheeler maker, launched its qualified institutional placement on June 1 after setting a floor price of 37.74 rupees (US$0.44) per share.

In an exchange filing, the company said it may offer a discount of up to 5% on the floor price in line with Securities and Exchange Board of India regulations.

A qualified institutional placement allows listed companies to raise money from institutional investors without a public offering process.

The fundraising comes as Ola Electric faces slowing sales, pressure on its market share, and continued losses in India’s electric two-wheeler market.

For the quarter ended March 2026, the company reported a consolidated net loss of 5 billion rupees (US$52.6 million), compared with 8.7 billion rupees (US$91.5 million) a year earlier.

For fiscal 2026, revenue from operations fell to 22.5 billion rupees (US$237 million) from 45.1 billion rupees (US$475 million).

Ola Electric shares closed at 39.53 rupees (US$0.42) on the BSE on Monday, down 4.91%. The qualified institutional placement announcement came after market hours.

🔗 Source: The Economic Times

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