Ola Electric Mobility Limited has filed with exchange Monitoring Agency report for quarter ended December 31, 2025
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Awaiting price reaction for this filing.
Ola Electric has filed the ICRA Monitoring Agency Report tracking the use of its Rs 5,500 crore IPO proceeds as of December 31, 2025. Of the total net proceeds, Rs 3,993.87 crore has been utilized, leaving Rs 1,506.13 crore unutilized, which is parked in fixed deposits and bank accounts across Axis Bank, SBI, Yes Bank, and Bank of Baroda. The objects of the issue have been revised as per the shareholder approval obtained at the AGM on August 22, 2025, including a new object for repayment of company/subsidiary indebtedness (Rs 395 crore) and reallocation of the cell manufacturing capex (Rs 1,227.64 crore) to other priorities. Key utilization so far: Rs 800 crore for OET subsidiary debt repayment (fully done), Rs 825.5 crore on organic growth, Rs 740.2 crore on R&D, Rs 272.4 crore on new debt repayment, and Rs 1,133.8 crore on general corporate purposes (raw materials and operating expenses).
The report shows no material deviation as per SEBI's definition, and the revised objects have been approved by shareholders, which is a positive compliance signal. However, the complete reallocation of the cell manufacturing expansion funds and significant unutilized balance may concern investors tracking the original growth plan tied to cell capacity buildout.