Ola Electric board approves plan to raise up to Rs 1,500 Cr

Ola Electric Mobility Limited has approved a proposal to raise up to Rs 1,500 crore through a mix of equity and convertible securities.

According to a stock exchange filing, the company’s board cleared the fundraising plan in its meeting held on October 25. The capital may be raised via further public offer, rights issue, qualified institutional placement, private placement or any other permitted mode.

Ola Electric, which listed on the stock exchanges in August last year, has been expanding its electric two-wheeler lineup and charging infrastructure across the country. The company is also investing in its Gigafactory in Tamil Nadu to strengthen domestic battery manufacturing capabilities.

The development comes as Ola Electric goes through a phase of organizational restructuring and shifts in its shareholder base. In June 2025, Hyundai Motor and Kia Corporation exited the company, selling their entire stake for about Rs 690 crore through block deals. Meanwhile, SoftBank trimmed its stake in the company, while Z47’s holding fell below the 2% mark following a partial exit. 

During the first quarter of FY26, the company recorded a 50% decline in revenue alongside a 23% rise in losses. At the same time, competition in the electric two-wheeler market has heated up, with Ather Energy surpassing Ola Electric in September sales, while TVS Motor continued to hold the top spot in the segment.