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

Ola Electric Mobility has secured approximately Rs 780 crore through a qualified institutional placement, aiming to bolster its recovery efforts and market share. The funds will be used to repay borrowings, fuel growth, and cover general corporate needs. This comes as the company navigates a challenging period marked by declining sales and market share, despite recent signs of sequential recovery.