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Ola Electric Shares Plunge 9% After Rally; Board to Consider Rights Issue
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CNBC TV18•25-09-2026, 11:12
Ola Electric Shares Plunge 9% After Rally; Board to Consider Rights Issue
- •Ola Electric Mobility Ltd. shares dropped 9% on Friday, reversing a four-session rally.
- •The decline follows the announcement that Ola Electric's board will meet on September 28 to consider a rights issue of equity shares.
- •This proposed fundraise comes after Ola Electric successfully raised ’780 crore through a qualified institutional placement (QIP) in June, which was oversubscribed by 56%.
- •The QIP attracted significant investment from global and Indian institutional investors, including Goldman Sachs, BNP Climate Fund, Motilal Oswal Mutual Fund, and Mirae Asset Mutual Fund.
- •Ola Electric has also reported a significant improvement in vehicle registrations, with VAHAN registrations nearly doubling sequentially to 43,719 units in Q1 FY27, driven by better retail execution and stronger customer demand.
Key Questions Answered
Ola Electric shares fell up to 9% on Friday, September 25, reversing after a four-session rally following the announcement that its board will meet on September 28 to consider a fundraising proposal through a rights issue.
Ola Electric raised ₹780 crore through a qualified institutional placement (QIP) in June 2026, which was oversubscribed by 56% with participation from various global and domestic institutional investors.
VAHAN registrations for Ola Electric nearly doubled sequentially to 43,719 units in Q1 FY27 compared to 22,252 units in the March quarter, driven by stronger customer demand, retail execution, and product availability.
