Ola Electric board approves Rs 1,700 Cr funding plan via debt instruments

Ola Electric Mobility has approved a plan to raise up to Rs 1,700 crore through debt instruments, following a board meeting held earlier today.

According to the regulatory filing, the company will raise funds by way of term loans, working capital facilities, or issuance of Non-Convertible Debentures (NCDs) and other eligible debt securities. The funds may be raised in one or more tranches on a private placement basis or through any other method permitted under applicable laws.

This is within the borrowing limits approved by shareholders and is intended to support the company’s growth and operations.

Importantly, the company confirmed that the trading window remains closed since April 1, 2025, and will reopen 48 hours after the announcement of its financial results.

This comes as the company faces increased regulatory scrutiny and financial challenges.

In January, SEBI cautioned Ola Electric for violating disclosure norms after announcing a retail expansion on social media before informing exchanges. The following month, a discrepancy arose between its claimed 25,000 vehicle sales and 8,600 VAHAN registrations, which the company attributed to vendor delays. 

However, the Bhavish Aggarwal-led company secured the second position in the electric two-wheeler segment in April, with TVS Motor emerging as the market leader.

While Ola Electric has yet to file its Q4 results, the company reported a 19.4% year-on-year drop in operating revenue to Rs 1,045 crore from Rs 1,296 crore. During the period, its net loss widened 50% to Rs 564 crore.