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Ola Electric Seeks ‘1,000 Crore Through Rights Issue to Fuel Growth
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CNBC TV18•28-09-2026, 21:41
Ola Electric Seeks ‘1,000 Crore Through Rights Issue to Fuel Growth
- •Ola Electric's board approved a rights issue of partly paid-up equity shares to raise up to ‘1,000 crore, pending regulatory approvals.
- •The rights issue will be open to eligible shareholders, with key details like issue price and record date to be announced later.
- •This fundraising follows a successful ‘780 crore Qualified Institutional Placement (QIP) in June, which was oversubscribed by 56%.
- •The QIP attracted major institutional investors including Goldman Sachs, BNP Climate Fund, and several Indian mutual funds.
- •Ola Electric reported a significant recovery in vehicle registrations, nearly doubling sequentially to 43,719 units in Q1 FY27, with June marking its strongest monthly performance.
Key Questions Answered
Ola Electric Mobility's board has approved a rights issue to raise up to ₹1,000 crore through partly paid-up equity shares with a face value of ₹10 each.
The company previously raised ₹780 crore through a qualified institutional placement in June, which was oversubscribed by 56% and attracted notable long-term institutional and mutual fund investors.
Registrations on the VAHAN portal nearly doubled sequentially to 43,719 units in the first quarter of FY27 compared to 22,252 units in the March quarter.
