Investment1 Oct 2025, 12:32 pm
Ola Electric Mobility to Invest INR 877 Crores in Subsidiary Ola Electric Technologies
AI Summary
Ola Electric Mobility Limited has announced that its wholly owned subsidiary, Ola Cell Technologies Private Limited, will invest up to INR 8,77,64,00,000 in another subsidiary, Ola Electric Technologies Private Limited. This investment will be made by subscribing to 87,76,40,000 non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares of face value INR 10 each, issued by Ola Electric Technologies. This decision was approved at a Board of Directors meeting held on October 01, 2025.
Key Highlights
- Ola Cell Technologies Private Limited to invest INR 877 Crores in Ola Electric Technologies Private Limited.
- Investment to be made by subscribing to 87,76,40,000 non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares of face value INR 10 each.
- Transaction is on arm's length basis.
- Investment is pursuant to the approval of the shareholders of the Company for variation of the objects / terms of utilization of the Initial Public Offering (“IPO”) proceeds at the Annual General Meeting held on August 22, 2025.
- Ola Electric Technologies is an electric vehicle (EV) manufacturer in India.