Ola Electric Mobility Limited has informed the Exchange about General Updates regarding raising of funds by Issuance of Securities by Ola Electric Technologies Private Limited a Material Wholly Owned Subsidiary of the Company
OLAELEC · price
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Ola Electric's wholly owned subsidiary Ola Electric Technologies Private Limited (OET) has received board and shareholder approval to raise up to INR 877.64 crores by issuing up to 87.76 crore Optionally Convertible Redeemable Preference Shares (OCRPS) at face value of INR 10 each, carrying a negligible 0.001% dividend. The investor is Ola Cell Technologies Private Limited (OCT), another wholly owned subsidiary of Ola Electric, making this an internal fund transfer between sister subsidiaries. The issuance will happen in one or more tranches through a private placement. This follows shareholder approval at the August 22, 2025 AGM to vary the use of IPO proceeds.
This is essentially an internal capital reallocation within the Ola Electric group rather than fresh external fundraising, so the direct impact on the listed entity's stock is limited. However, it shows deployment of IPO capital toward the cell technology business, and the very low coupon suggests the group is prioritising capital flexibility over returns to subsidiaries.