Ola Electric Approves Rights Issue of ₹999.74 Cr

Ola Electric Mobility Limited's Board of Directors, in a meeting held on October 07, 2026, approved the terms of a Rights Issue. The company will issue 37,02,72,665 partly paid-up equity shares at ₹27 each, aggregating up to ₹9,99,73,61,955 (₹999.74 Crore). The issue price includes a premium of ₹17 per share. The payment will be in two tranches: ₹16.20 on application and ₹10.80 for the first and final call, expected by October 31, 2027. The record date for determining eligible shareholders is October 13, 2026. The Rights Issue period will be from October 22, 2026, to October 30, 2026. This rights issue aims to raise capital not exceeding ₹1,000 crores.