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Ola Electric to open Rs 1,000 Cr rights issue on October 22

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Ola Electric to open Rs 1,000 Cr rights issue on October 22

Electric two wheeler maker Ola Electric will open its Rs 1,000 crore rights issue on October 22. The issue will close on October 30, 2026.

The company will issue 37.03 crore partly paid up equity shares at Rs 27 per share. This includes a premium of Rs 17 per share. The issue will raise Rs 999.74 crore if fully subscribed.

Ola Electric has fixed October 13 as the record date for determining shareholders eligible for the rights issue. Eligible shareholders will receive two rights shares for every 25 shares held on the record date.

Investors will pay Rs 16.20 per share at the time of application, while the remaining Rs 10.80 per share will be payable through a first and final call. The call is expected to be completed by October 31, 2027.

Ola Electric promoter Bhavish Aggarwal has pledged a 4.32% stake in the company to fund his participation in the rights issue. The pledge was created to fund his subscription, with no shares being sold as part of the transaction.

Ola Electric had earlier approved the proposed rights issue of up to Rs 1,000 crore on September 28. The company had also raised Rs 780 crore through a QIP in June to strengthen its balance sheet and support its growth plans.



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