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Ola Electric Wins Approval for Rights Issue, Board to Set Terms
Ola Electric wants to raise money by offering shares to existing shareholders.
It received an initial approval from the stock exchanges on October 6, 2026.
The company’s board plans to meet the next day to decide important details.
These include the price of the shares and how many shares eligible investors may receive.
The board will also set a record date and decide when the offer will happen.
The proposed shares will be partly paid-up and have a face value of ₹10 each.
The company says the total amount raised will not be more than ₹1,000 crore.
The meeting had been postponed because some clearances were still pending.
The article also reports that Ola Electric shares were trading below several moving averages.
Ola Electric said it received in-principle approval for its proposed rights issue on October 6, 2026.
The company’s board is scheduled to meet on October 7 to decide the issue’s terms.
The proposed issue is for partly paid-up equity shares with a face value of ₹10 each.
The capital raise will not exceed ₹1,000 crore; price, entitlement ratio and record date remain to be decided.
The board meeting was postponed from October 5 while regulatory and exchange clearances were pending.
- Who
- Ola Electric and its board of directors.
- What
- The board is to consider and decide terms for a proposed rights issue of up to ₹1,000 crore.
- Where
- The approval came from the stock exchanges where Ola Electric’s securities are listed.
- When
- In-principle approval was received October 6, 2026; the board meeting is scheduled for October 7, 2026.
- Why
- The board is meeting to determine the rights issue’s terms, including its price, entitlement ratio, record date and timing.
Technical indicators
Technical indicators
Ola Electric share chart
Technical indicators
The reported RSI of 41.5 indicates the shares were neither overbought nor oversold.
Technical indicators
The shares were trading below the 5-, 10-, 20-, 30-, 50- and 100-day moving averages.
Key facts
- In-principle approval
- Received October 6, 2026
- Board meeting
- Scheduled for October 7, 2026
- Maximum proposed amount
- ₹1,000 crore
- Share type
- Partly paid-up equity shares
- Face value
- ₹10 per share
- Pending decisions
- Issue price, payment mechanism, entitlement ratio, record date and timing
- Meeting postponement
- The meeting was deferred from October 5 because regulatory and exchange clearances were pending
- Reported RSI
- 41.5; the article says the stock was neither overbought nor oversold on charts
Quotes
Ola Electric
The company communicating the exchange approval and board meeting details.
“Accordingly, a meeting of the Board of Directors of the Company is scheduled to be held on October 07, 2026 inter alia, to consider, discuss and decide various matters in connection with the Rights Issue of partly paid-up equity shares of the Company of face value ?10 each for an amount not exceeding Rs. 1,000 crores (Rupees One Thousand Crores), including but not limited to the specific terms of the Rights Issue, such as the determination of the Rights Issue price and related payment mechanism,”
businesstoday.in
Sources
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