Ola Electric allots shares in ₹999.74 crore partly paid rights issue
The company receives about ₹599.84 crore upfront, with the remaining 40% payable on a later call.
Ola Electric allotted 370,272,665 partly paid shares on 2 November 2026 under the rights issue first approved on 28 September. At the full issue price of ₹27 per share, the allotment represents ₹999.74 crore in total consideration.
Application money and the later call
Subscribers paid ₹16.20 per share on application, or 60% of the price, bringing upfront proceeds to about ₹599.84 crore. The remaining ₹10.80 per share is due on a first and final call. The October terms expected that call by 31 October 2027, while allowing the board to change its timing.
Equity for an electric-vehicle business
The rights issue was offered to eligible shareholders and renouncees. Ola Electric makes electric scooters, motorcycles and battery products. This financing follows the company’s separate qualified institutional placement in June 2026.