Ola Electric Mobility Limited has informed the Exchange regarding outcome of Board Meeting dated May 15, 2026
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Ola Electric's Board approved investing Rs. 2,000 crores in two wholly-owned subsidiaries. Rs. 500 crores will go to Ola Cell Technologies Private Limited (OCT), which manufactures batteries and cells, with FY 2024-25 turnover of Rs. 73 crores. Rs. 1,500 crores will go to Ola Electric Technologies Private Limited (OET), engaged in EV value-chain services and manufacturing, with FY 2024-25 turnover of Rs. 4,717.48 crores. The investment is via Compulsory Convertible Preference Shares and is intended to support the subsidiaries' business requirements. The transaction is with related parties (wholly-owned subsidiaries) but conducted at arm's length with no promoter interest. The investment is to be completed by May 14, 2027.
This is an internal capital infusion to support existing subsidiary operations. The company maintains 100% control over both subsidiaries, so there is no change in ownership structure or dilution for shareholders. The significant investment in OET (Rs. 1,500 crores) signals continued focus on expanding EV manufacturing capabilities.