Ola Electric Announces Rights Issue of ₹1,000 Crore; Sets Record Date for Oct 13
Ola Electric approved a Rights Issue of up to ₹1,000 crore, issuing 37,02,72,665 partly paid-up equity shares at ₹27 each. The record date is October 13, 2026. The issue opens on October 22 and closes on October 30, 2026. Payment is in two tranches, with the final call by October 31, 2027.
A rights issue of this magnitude (₹1,000 crore) is a material event that can significantly impact the company's capital structure, financial flexibility, and future expansion plans.
The announcement details a significant fundraising activity through a rights issue, which is generally viewed positively as it strengthens the company's financial position for future growth.
Ola Electric Mobility Limited has announced the outcome of its Board of Directors meeting held on October 7, 2026. The Board approved the terms of a Rights Issue to raise up to ₹1,000 crore by issuing partly paid-up equity shares.
The Rights Issue will involve 37,02,72,665 Rights Equity Shares, with a total issue size aggregating to ₹9,99,73,61,955. Each Rights Equity Share has a face value of ₹10 and is priced at ₹27 (including a premium of ₹17). The payment will be made in two tranches: ₹16.20 per share (60% of the issue price) on application, and the remaining ₹10.80 per share (40% of the issue price) as the first and final call, expected to be completed on or before October 31, 2027. The Board retains the right to alter the payment schedule for the final call.
The record date for determining eligible shareholders to receive their rights entitlement has been set as October 13, 2026. The Rights Issue period will commence on Thursday, October 22, 2026, with the trading of Rights Entitlements closing on Monday, October 26, 2026. The issue will close on Friday, October 30, 2026, although the Board may extend this period by up to 30 days. The rights entitlement ratio is 2 Rights Equity Shares for every 25 fully paid-up Equity Shares held on the record date. The company's outstanding equity shares will increase from 4,62,84,08,313 to 4,99,86,80,978 post the Rights Issue, assuming full subscription and payment.
The Board also approved the Letter of Offer to be filed with the Securities and Exchange Board of India, BSE Limited, and National Stock Exchange of India Limited. The meeting, which commenced at 05:02 PM (IST), concluded at 05:30 PM (IST).
What to do with a filing like this
Ola Electric Mobility Limited filed this with the NSE as a statutory disclosure, categorised under rights issue. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Ola Electric Mobility Limited. Read the original for the full detail.