Funding · Mobility & Logistics

Ola Electric approves Rs 1,500 crore fundraise and reports COO exit

By Startup Enthusiast · 3 September 2026

What they do

Ola Electric manufactures electric two-wheelers, battery cells, and electric motorcycles with vertically integrated facilities in India

The board approved a plan to raise up to Rs 1,500 crore through equity-based routes, following a Rs 780 crore QIP in June

Chief operations officer Hyun Shik Park resigned for personal reasons as the company faces intensified competition and shifting market share

Electric two-wheeler maker Ola Electric approved a plan to raise up to Rs 1,500 crore by issuing shares and other securities.
The fundraise may be executed through a further public offer, rights issue, qualified institutional placement (QIP) [capital raising method allowing listed companies to issue shares to institutional buyers], private placement, or other permitted routes.
The board meeting also covered the reappointment of independent directors Manoj Kumar Kohli and Shradha Sharma for another five-year term.
Chief operations officer Hyun Shik Park resigned from the company citing personal reasons, effective September 5.
Ola Electric reported a consolidated net loss [total financial loss across a company and its subsidiaries] of Rs 336 crore for Q1 FY27, compared to a net loss of Rs 428 crore a year earlier.
Revenue from operations in Q1 FY27 fell to Rs 455 crore from Rs 828 crore in the same period last year as vehicle registrations declined.

The fresh capital raise comes just three months after Ola Electric raised Rs 780 crore through a QIP in June.
The company has faced mounting competitive pressure in the electric two-wheeler market from rivals such as TVS Motor, Bajaj Auto, and Ather Energy.
Ola Electric's market share in monthly vehicle registrations declined compared to previous periods, prompting strategic efforts to revive sales and financial performance.

Ola Electric builds electric scooters and motorcycles including the Ola S1 series and Roadster series.
The company operates an integrated manufacturing facility in Tamil Nadu known as the Futurefactory.
It runs a battery innovation centre in Bengaluru focused on cell and battery technology development.
The firm develops proprietary technologies including its MoveOS software platform and in-house battery cells.
It sells vehicles directly through retail stores and online channels while expanding its service and dealer network across India.

The company plans to execute the approved fundraise subject to shareholder and regulatory approvals.