Key Highlights
- Ola Electric approved a rights issue of up to ₹1,000 crore.
- The issue will comprise partly paid-up equity shares with a face value of ₹10 each.
- The rights issue will be offered to eligible shareholders as of a record date to be determined.
- The final issue price and rights entitlement ratio have not yet been announced.
- Ola Electric has constituted a three-member Rights Issue Committee.
- A Board meeting is scheduled for October 5, 2026 to consider detailed rights issue terms.
- The proposed issue remains subject to applicable regulatory and statutory approvals.
Ola Electric Mobility Limited has approved a rights issue of partly paid-up equity shares to eligible shareholders to raise an amount of up to ₹1,000 crore. The decision was taken at the company’s board meeting held on September 28, 2026, subject to applicable regulatory and statutory approvals.
The proposed issue will involve partly paid-up equity shares with a face value of ₹10 each. The rights issue will be offered to eligible equity shareholders of Ola Electric as of a record date, which will be determined and announced by the company subsequently.
Ola Electric Rights Issue Details
According to the company’s regulatory filing, the total amount to be raised through the rights issue will not exceed ₹1,000 crore. The total number of shares to be issued will be determined by the Board based on the final terms of the issue.
Ola Electric said the detailed terms of the rights issue are yet to be finalised. These include the rights issue price, entitlement ratio, record date, issue timeline, payment terms and other related conditions.
The proposed issue will be undertaken in accordance with the Securities and Exchange Board of India (SEBI) Issue of Capital and Disclosure Requirements Regulations, 2018, the Companies Act, 2013 and other applicable laws.
Rights Issue Committee Constituted
The company’s Board has also approved the constitution of a Rights Issue Committee to oversee matters related to the proposed issue.
The committee comprises Bhavish Aggarwal, Chairman and Managing Director, as Chairperson, along with independent directors Manoj Kumar Kohli and Navalur Dattatreya Singh Shashank as members.
The committee has been delegated powers considered necessary to give effect to the rights issue, subject to applicable requirements.
Ola Electric to Consider Detailed Issue Terms on October 5
Ola Electric has scheduled another Board meeting for October 5, 2026, after receipt of in-principle approval from the stock exchanges or other required regulatory authorities, whichever is later.
The meeting is expected to consider and decide the specific terms of the proposed rights issue, including the issue price, rights entitlement ratio, record date, timing of the issue and payment mechanism.
The company has not yet disclosed the final rights entitlement ratio or issue price. These details are expected to be announced after the Board considers the matter.
Ola Electric is listed on the National Stock Exchange of India under the symbol OLAELEC and on BSE with scrip code 544225.
