New Delhi, June 2 -- Ola Electric's fund-raising committee approved the opening of its Qualified Institutions Placement (QIP) on June 1, fixing the floor price at Rs 37.74 per equity share. The electric vehicle manufacturer launched the capital raising initiative following earlier approvals from its board and shareholders. The placement involves equity shares with a face value of Rs 10 each, offered to eligible institutional buyers.

According to an Ola Electric exchange filing, the company authorized the immediate opening of the issue and adopted the preliminary placement document alongside the application form for eligible qualified institutional buyers.

The floor price calculation relied on the regulatory pricing formula prescribed un...