Funding · Mobility & Logistics

Ola Electric plans ₹1,000 crore rights issue

By Startup Enthusiast · 28 September 2026

What they do

Ola Electric makes electric two-wheelers in India and is building its own battery cell manufacturing

Its board cleared a rights issue of up to ₹1,000 crore in partly paid shares, open only to existing shareholders

The plan follows a ₹780 crore QIP in June, as revenue fell 45% in the first quarter and market share slipped

Ola Electric's board approved raising up to ₹1,000 crore through a rights issue on 28 September.
A rights issue lets existing shareholders buy new shares, usually at a price below the market.
These will be partly paid shares (buyers pay part of the price now and the rest later), with a face value of ₹10.
The price, ratio, record date and payment schedule have not been fixed yet.
The plan still needs regulatory and statutory approvals before it can open.
The board also proposed raising its authorised share capital to ₹8,721.9 crore, which shareholders must approve.

Less than a month earlier, on 3 September, the board had cleared a separate plan to raise up to ₹1,500 crore.
In June the company raised ₹780 crore through a QIP that drew Goldman Sachs and several Indian mutual funds.
Revenue from operations fell 45% to ₹455 crore in the April–June quarter, though the loss narrowed to ₹336 crore.
It logged 13,170 registrations in July, a 6.8% market share, and its COO resigned in early September.
The shares closed about 1.7% lower at ₹37.84 on the day of the announcement.

Ola Electric makes electric scooters (S1 range, from about ₹80,000) and electric motorcycles (Roadster X range) for everyday riders in India.
It also sells home battery systems (Ola Shakti) and solar charge controllers, a newer line beyond vehicles.
Customers buy directly through its own experience centres in cities such as Bengaluru, Delhi, Mumbai and Chennai, backed by about 590 service centres.
It earns money from vehicle sales, plus batteries and energy products; it builds vehicles in its own large factory and is developing its own battery cells.
The company says it has nearly 1 million riders, but its share of new electric two-wheeler registrations fell to about 7% in August 2026, behind TVS, Bajaj, Ather and Hero.

The board will set the issue price, entitlement ratio and record date later.