Date: June 4, 2026

Board Meeting Outcomes

The Fund Raising Committee of the Board of Ola Electric Mobility Limited, at its meeting held on June 4, 2026, approved the allotment of equity shares pursuant to the Qualified Institutions Placement (QIP) that opened on June 1, 2026 and closed on June 4, 2026.

Fundraising Details

  • Type of issuance: Qualified Institutions Placement
  • Securities allotted: 217,578,428 Equity Shares of face value of ₹10 each
  • Issue price: ₹35.86 per Equity Share (including a premium of ₹25.86 per Equity Share)
  • Discount: 4.98% (₹1.88 per Equity Share) to the floor price of ₹37.74 per Equity Share
  • Total amount raised: ₹780,23,62,428.08 (₹780.24 crore)
  • Floor price determined in accordance with Regulation 176(1) of the SEBI ICDR Regulations

Capital Structure Impact

Pursuant to the allotment, the paid-up equity share capital of the Company has increased:

  • Before allotment: ₹44,108,298,850 comprising 4,410,829,885 Equity Shares
  • After allotment: ₹46,284,083,130 comprising 4,628,408,313 Equity Shares

Allottee Information

Major allottees (allocated more than 5% of the issue):

  • Mirae Asset Large & Midcap Fund: 20,914,668 shares (9.61% of issue)
  • Mirae Asset ELSS Tax Saver Fund: 5,577,245 shares (2.56% of issue)
  • Mirae Asset Midcap Fund: 6,971,556 shares (3.20% of issue)
  • Motilal Oswal Small Cap Fund: 11,154,490 shares (5.13% of issue)
  • Motilal Oswal Active Momentum Fund: 9,760,178 shares (4.49% of issue)

Other allottees from JM Financial Mutual Fund:

  • JM Value Fund: 557,724 shares (0.26% of issue)
  • JM Flexicap Fund: 8,365,867 shares (3.85% of issue)
  • JM Midcap Fund: 1,394,311 shares (0.64% of issue)
  • JM Small Cap Fund: 836,587 shares (0.38% of issue)

Additional Information

  • Formerly known as: Ola Electric Mobility Private Limited
  • Company Secretary and Compliance Officer: Abhishek Jain (Membership No.: A62027)
  • Place: Bengaluru
  • The intimation will be hosted on the company website: www.olaelectric.com