Ola Electric Announces Rs 1,000 Crore Rights Issue for Shareholders

Ola Electric Mobility has approved a rights issue to raise up to one thousand crore rupees, offering nearly thirty-seven crore new shares to existing investors.

Issue Details

The company has set the price at twenty-seven rupees per share, which includes a face value of ten rupees and a premium of seventeen rupees. Eligible shareholders will receive an offer of two new shares for every twenty-five shares they currently hold as of the record date. The issue opens on October 22, 2026, and closes on October 30, 2026. October 13 has been fixed as the record date, making October 12 the final day to buy the stock to qualify.

Market Standing

The firm's stock closed one point eight three percent higher at thirty-five point one three rupees on Friday following a recent drop in prices. Total outstanding shares will rise from over four hundred sixty-two crore to nearly fifty crore if the issue is fully subscribed.

Context

A rights issue allows existing shareholders to buy additional shares in a company at a set price, usually at a discount, helping the business raise fresh funds without adding new external investors. Companies in the electric vehicle sector often use such fundraising methods to support their ongoing operations and expansion plans in a competitive market.