Ola Electric Launches Rs 1,000 Crore Rights Issue

Ola Electric, a renowned manufacturer of electric two-wheelers, is set to commence its Rs 1,000 crore rights issue on October 22, 2026, with the closing date scheduled for October 30, 2026. The company plans to issue 37.03 crore partly paid-up equity shares at a price of Rs 27 each, which includes a premium of Rs 17 per share. If fully subscribed, the rights issue will raise a total of Rs 999.74 crore.

Details of the Rights Issue

The record date for determining eligible shareholders for the rights issue has been set for October 13, 2026. Shareholders who are eligible will receive two rights shares for every 25 shares they hold on this date.

Payment Structure

At the time of application, investors are required to pay Rs 16.20 per share, with the remaining Rs 10.80 per share payable through a first and final call. This call is anticipated to be finalised by October 31, 2027.

Promoter’s Commitment

Bhavish Aggarwal, the promoter of Ola Electric, has pledged a 4.32% stake in the company to finance his involvement in the rights issue. Notably, this pledge is meant solely to secure his subscription, with no shares being sold as part of this process.

Previous Funding Efforts

On September 28, 2026, Ola Electric approved the proposed rights issue of up to Rs 1,000 crore. Earlier, in June, the company successfully raised Rs 780 crore through a Qualified Institutional Placement (QIP) to bolster its balance sheet and support its strategic growth initiatives.