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The Economic Times
The Economic Times
Technology

Ola Electric raises Rs 780 crore via QIP amid market share, cash burn pressure

Ola Electric ET

Ola Electric Mobility has raised about Rs 780 crore through a qualified institutional placement, completing a fundraise at a time when the electric two-wheeler maker is trying to recover volumes and regain market share lost to legacy automakers.

The company said it allocated 21.76 crore equity shares to eligible qualified institutional buyers at Rs 35.86 per share. The price is at a 4.98% discount to the QIP floor price of Rs 37.74 a share.

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