Shares of electric vehicle manufacturer Ola Electric Mobility fell nearly 3.5% to their day's low of Rs 38.15 on the BSE on Tuesday after it approved the launch of a qualified institutional placement (QIP) and fixed a floor price of Rs 37.74 per equity share for the offering, according to a stock exchange filing.
The company's fund-raising committee cleared the opening of the issue on June 1 and approved the preliminary placement document for institutional investors. As permitted under Sebi regulations, the company may offer a discount of up to 5% on the floor price.
