India's Ola Electric Mobility falls on launching QIP issue at discount

Ola Electric Mobility

02/06/2026 05:19

** Shares of Ola Electric Mobility OLAE.NS fall as much as 3.7% to 38.08 rupees, last down 1.1%
** Electric two-wheeler maker to raise funds via QIP issue of shares with floor price set at 37.74 rupees per share, 4.5% discount to closing price on Monday
** Update on NSE website shows issue to be 13 bln rupees ($136.6 mln)
** Proceeds to be used for loan repayment, expenditure incurred for organic growth initiatives, and general corporate purposes
** YTD, OLAE up ~8%

($1 = 95.1450 Indian rupees)

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))