Ola Electric Mobility to Initiate Equity Share Placement with Floor Price of ₹37.74
Ola Electric Mobility Ltd. confirmed the details of a planned qualified institutions placement of equity shares, reporting that the company's Fund Raising Committee approved key parameters for the fund raise. The committee finalized the arrangements for the placement, which involves eligible qualified institutional buyers.The placement aims to secure funds through the subscription of Equity Shares, which have a face value of ₹10 each.
The decision to move forward with the issue was supported by the Company’s Board of Directors, which accorded approval on October 25, 2025. Furthermore, the Company members passed a special resolution on November 27, 2025.
In its meeting on June 1, 2026, the Fund Raising Committee reviewed and approved several critical components of the placement. These approvals include authorizing the opening of the Issue on June 1, 2026, and adopting the preliminary placement document, dated June 1, 2026, along with the associated application form.
Placement Pricing and Details
The committee's review established the financial structure and pricing mechanism for the placement.The floor price for the Equity Shares was approved at ₹37.74 per share. This calculation was based on the prescribed pricing formula.
The committee also formally fixed June 1, 2026, as the Relevant Date for the determination of the floor price.
The Company holds the discretion to offer a discount on the calculated floor price. This discount may be no more than 5% of the floor price. The final Issue Price will be determined by the Company in consultation with the book running lead managers appointed for the placement.
The preliminary placement document dated June 1, 2026, will be utilized to invite bids and receive application forms and amounts for the subscription of the equity shares.
OLAELEC Stock Price Movement
Ola Electric Mobility Limited shares today slipped by 4.87% to settle at ₹39.53, closing post-market. The stock traded between a high of ₹42.00 and a low of ₹39.13, while handling a significant total volume of 137.81 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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