Ola Electric sets dates and terms for ₹1,000 crore rights issue

Ola Electric Mobility has announced the operational details for its upcoming ₹1,000 crore rights issue, fixing the issue price at ₹27 per share and setting Tuesday, 13 October, as the record date to determine eligible shareholders.

The capital expansion will see the Bengaluru-headquartered manufacturer issue up to 37,02,72,665 partly paid-up equity shares, raising an aggregate ₹999.74 crore. The proceeds bolster the company's financial base at a time when India's domestic electric vehicle ecosystem is expanding rapidly, supported by national initiatives to localize advanced automotive technology and build domestic supply chains.

Rights issue ratio and pricing structure

Under the terms approved by the board, eligible investors will receive two rights equity shares for every 25 fully paid-up equity shares held on the record date. The issue price of ₹27 carries a face value of ₹10 along with a securities premium of ₹17 per share.

The pricing offers existing investors a roughly 23 percent discount compared to the company’s recent closing level of ₹35.13 on the stock exchange. To ease the cash requirement on applicants, the company has structured the payout across two instalments. Shareholders will pay 60 percent of the issue price on application, while the remaining balance will be payable upon a subsequent call scheduled by the board.

If fully subscribed, the corporate action will increase Ola Electric’s outstanding share base from 4,62,84,08,313 equity shares to 4,99,86,80,978 equity shares, expanding its domestic capital foundation.

Key dates for shareholders

Under standard market settlement conventions, Monday, 12 October, serves as the effective cut-off day for investors to acquire shares on the open market and have them credited to demat accounts ahead of the 13 October record date.

The rights issue is scheduled to open for subscription on Thursday, 22 October, and close on Friday, 30 October. Eligible investors who do not wish to subscribe can trade their entitlements until 26 October, the final date for on-market renunciation. Ola Electric expects to finalise share allotments on 2 November.

Fueling domestic clean mobility

The fund infusion marks a decisive move by the Bhavish Aggarwal-led firm to solidify its balance sheet as domestic EV adoption gathers sustained momentum. India has emerged as one of the fastest-growing two-wheeler electric markets globally, driven by infrastructure investments, domestic manufacturing incentives, and strong consumer appetite for clean transport.

With a market valuation of approximately ₹16,260 crore, Ola Electric continues to spearhead local manufacturing capacity. The ₹1,000 crore funding gives existing institutional and retail shareholders direct participation in the company’s long-term production and engineering scale-up.