Archive · 6 Sep 2026
Ola Electric board approves ₹1,500 crore fundraise amid sales pressures
Ola Electric wants to raise up to ₹1,500 crore for its electric-vehicle business.
Its board approved the plan, but shareholders and regulators must still agree.
The company recently raised ₹780 crore in another share sale.
In August, it sold 13,849 electric scooters, which was 29% fewer than a year earlier.
Other companies, including TVS Motor, Bajaj Auto, and Ather Energy, reported growth during the same period.
Ola Electric is also building more battery cells and increasing production at its Gigafactory.
It plans to expand battery-storage products under the Ola Shakti and Mahashakti brands.
Its chief operations officer, Hyun Shik Park, also resigned for personal reasons.
Ola Electric’s board approved raising up to ₹1,500 crore through equity shares or eligible securities.
The fundraising requires approval from shareholders and other regulators and may use multiple issuance routes.
The proposal follows a ₹780 crore qualified institutional placement completed three months earlier.
Ola Electric’s August sales fell 29% year on year to 13,849 units as its market share declined.
The company is expanding battery-cell production, Gigafactory capacity, and energy-storage businesses while facing leadership changes.
- Who
- Ola Electric and its board; the company’s competitors included TVS Motor, Bajaj Auto, and Ather Energy.
- What
- The board approved a fundraising of up to ₹1,500 crore through equity shares or other eligible securities.
- When
- The approval was reported after August sales; the proposed director reappointments begin December 6, 2026.
- Where
- The article does not specify a location; the company is expanding production at its Gigafactory.
- Why
- Ola Electric is seeking capital amid weak sales and declining market share while expanding manufacturing and battery-energy-storage operations.
- Approved fundraising
- Up to ₹1,500 crore
- Fundraising methods
- Equity shares and/or securities convertible into or exchangeable for equity shares
- Required approvals
- Shareholders’ and other regulatory approvals
- Previous fundraising
- ₹780 crore raised through a qualified institutional placement three months earlier
- August sales
- 13,849 units, down 29% year on year
- Gigafactory capacity
- Expected to reach 6 GWh by September, up from 2.5 GWh
- Earlier subsidiary investment
- ₹2,000 crore approved in May: ₹1,500 crore for Ola Electric Technologies and ₹500 crore for Ola Cell Technologies