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Ola Electric Seeks Board Approval for Rights Issue to Fund Growth
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News18•23-09-2026, 20:00
Ola Electric Seeks Board Approval for Rights Issue to Fund Growth
- •Ola Electric is seeking board approval for a proposed rights issue of equity shares.
- •The rights issue aims to allow participation from all eligible shareholders, including retail, institutional, and the promoter group.
- •The company had previously received enablement to raise up to Rs 1,500 crore, with Rs 780 crore already raised through a QIP.
- •This capital raise could help Ola Electric achieve cash breakeven without needing further funding soon.
- •Ola's promoter group, led by Bhavish Aggarwal, holding 32.97% in the company, is expected to participate in the rights issue.
Key Questions Answered
Ola Electric is seeking board approval for a proposed rights issue of equity shares, which aims to allow participation by all eligible shareholders including retail, institutional, and promoter groups subject to applicable laws.
Ola Electric raised Rs 780 crore through its June 2026 qualified institutional placement (QIP) as part of an earlier enablement to raise up to Rs 1,500 crore.
The promoter group of Ola Electric, led by Chairman and Managing Director Bhavish Aggarwal, holds approximately 32.97 per cent in the company and is expected to participate in the proposed rights issue.
