Leading electric vehicle manufacturer Ola Electric has successfully raised Rs 780.24 crore by selling 21.75 crore shares through QIP. Although the shares were offered at a price 5 per cent lower than the fixed base price, the company managed to get 56 per cent oversubscription from the market. These shares were bought by leading global and domestic investors like Goldman Sachs, Motilal Oswal and Mirae Asset. The move is part of the company's larger plan to raise a total of Rs 1,500 crore.

Of this fund, Rs 225 crore will be used to repay existing debts of the company and its subsidiaries. The remaining amount has been earmarked for business growth and general corporate purposes. The company said that the debt-to-equity ratio of the company will improve from 0.74 to 0.60 and will help it raise capital at lower interest rates in the future. The proceeds will also be used for the development of Ola Future Factory, Gigafactory and lithium-ion cell manufacturing.

Ola's move comes against a backdrop of fierce competition in the electric two-wheeler market. Although the company's operating income fell by half in the fiscal year 2026, the company has been able to reduce its net loss by 20% to Rs 1,833 crore. With this new share sale, the promoters' stake in the company has come down from 34.59 percent to 32.97 percent, while the participation of institutional investors has increased to 16.42 percent.