Ola Electric raises ₹500 cr through QIP, issue oversubscribed by 56%

Ola Electric Mobility has raised ₹500 crore through a Qualified Institutional Placement (QIP), with bids worth ₹780 crore, resulting in an oversubscription of 56%. A QIP allows listed companies to raise funds by issuing shares to qualified institutional buyers such as mutual funds and insurance firms. The company approved a floor price of ₹37.74 per equity share for the issue.