Shares of Ola Electric Mobility fell nearly 3.5 per cent on Tuesday, June 2, 2026, after the company launched a qualified institutional placement (QIP) issue at a floor price of Rs 37.74 per share. The counter opened the trading session at Rs 38.40, down from the previous close of Rs 39.53 on the BSE. It fell further, hitting the intraday high of Rs 38.15, representing a 3.49 per cent decline from the last closing price. Last seen, the stock was trading at Rs 38.90 with a dip of Rs 0.63 or 1.59 per cent. The market cap of the company stood at Rs 17,162.54 crore.
The stock has been falling for the last two days and has fallen 6.25 per cent in the period. Technically, the counter is trading higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than the 200-day moving averages.
What is Qualified Institutional Placement?
In simple terms, a Qualified Institutional Placement (QIP) is a tool used by listed companies to raise capital. The capital is raised by issuing shares, debentures or other securities to Qualified Institutional Buyers (QIBs) like mutual funds, insurance companies, banks, and foreign institutional investors (FIIs). This helps the company to avoid the lengthy process of a public issue.
Ola Electric has approved QIP at a time when the company is grappling with challenges like slowing sales, increasing pressure on market share and persistent losses. This move is considered crucial for Ola as the company wants to raise additional capital to further its expansion and manufacturing plans.
Ola share price history
According to BSE Analytics, the stock has corrected 27.42 per cent in one year and 2.62 per cent in six months. However, on a year-to-date (YTD) basis, the scrip has gained 3.89 per cent, compared to a fall of 12.92 per cent in the benchmark index.
The 52-week high of the stock is Rs 71.24, hit on September 4, 2025 and a 52-week low of Rs 21.21.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
