Ola Electric approves up to Rs 877.64 crore investment in OET
OLAELEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Ola Cell Technologies, Ola Electric's material wholly owned subsidiary, will invest up to Rs 877.64 crore in fellow subsidiary Ola Electric Technologies. It will subscribe to 87.764 crore Series A optionally convertible redeemable preference shares of Rs 10 each, in one or more tranches. The related-party deal is at arm's length and uses initial public offering funds approved by shareholders. OET's FY25 turnover was Rs 4,510 crore, against Rs 5,000 crore in FY24.
Supports EV manufacturing, but OET was already wholly owned. The investment mainly shifts capital within the group and adds no outside shareholder.