Date: June 4, 2026
Board Meeting Outcomes
The Fund Raising Committee of the Board met on June 4, 2026, from 07:30 p.m. to 07:45 p.m. (IST) and approved the following decisions regarding the Qualified Institutions Placement (QIP):
- Closure of the QIP issue on June 4, 2026, following receipt of application forms and funds in the escrow account from eligible qualified institutional buyers (QIBs)
- Allocation of 217,578,428 equity shares of face value ₹10 each to eligible QIBs
- Issue price of ₹35.86 per equity share, which includes a premium of ₹25.86 per share
- The issue price represents a discount of 4.98% (₹1.88 per share) to the floor price of ₹37.74 per share, which was determined as per Regulation 176(1) of the SEBI ICDR Regulations
- Finalization of confirmation of allocation notes to be sent to eligible QIBs
- Approval and adoption of the placement document dated June 4, 2026
Fundraising Details
The QIP raised approximately ₹780 crore through the issuance of 217.58 million shares at ₹35.86 per share. The placement document was filed with the National Stock Exchange of India Limited and BSE Limited on June 4, 2026, and made available on the company's website at www.olaelectric.com.