Ola Electric Launches Rs 999.74 Crore Rights Issue

Total issue size of Rs 999.74 crore with an issue price of Rs 27 per share.
Company to issue 37,02,72,665 shares to existing shareholders on a 2:25 ratio.

Reader Takeaway: Existing shareholders get discounted shares via rights issue; note the two-part payment schedule ending October 2027.

What just happened

Ola Electric Mobility has officially announced a rights issue to raise Rs 999.74 crore. The company will issue over 37 crore new equity shares to eligible shareholders. This move follows in-principle approvals received from both the BSE and NSE on October 6, 2026.

Why this matters

This capital infusion allows existing shareholders to increase their stake at a predetermined price of Rs 27 per share. The issue is structured as partly paid-up shares, which impacts the total outstanding share capital of the company. Post-issue, the total outstanding shares are expected to reach 4,99,86,80,978, assuming full subscription.

Payment Structure

The issue price of Rs 27 is split into two parts. Investors must pay Rs 16.20 per share (60%) on application. The remaining Rs 10.80 per share (40%) is payable as a First and Final Call, which the company expects to collect on or before October 31, 2027.

Timeline to Watch

• Record Date: October 13, 2026
• Rights Issue Opens: October 22, 2026
• Rights Issue Closes: October 30, 2026
• Rights Entitlement (RE) Trading Ends: October 26, 2026

Risks to watch

Investors should be mindful that the Board reserves the right to adjust the timeline for the final call payment based on business requirements. Additionally, failing to pay the final call by the specified deadline may result in consequences as defined in the Letter of Offer, which shareholders should review thoroughly upon release.