1 hr ago
Ola Electric Sets ₹27 Price for ₹1,000-Crore Rights Issue
Ola Electric plans to raise almost ₹1,000 crore by offering new shares to its existing shareholders.
Each share will cost ₹27, which the company says is about 26% below its Wednesday closing price.
Shareholders can buy two new shares for every 25 shares they already own, if they held them on October 13, 2026.
They will pay ₹16.20 per share when applying and the remaining ₹10.80 later.
The issue is scheduled to run from October 22 to October 30, 2026.
The company expects to use some of the money to pay down debt and some to support growth.
The rest is for general corporate purposes.
The board can change the payment schedule, subject to applicable laws.
Ola Electric will issue 37.03 crore partly paid-up shares at ₹27 each, potentially raising ₹999.74 crore.
Eligible shareholders can subscribe for two shares for every 25 shares held on the October 13, 2026 record date.
Investors pay ₹16.20 per share on application and ₹10.80 through a first and final call.
The issue is scheduled to open October 22 and close October 30, 2026; rights entitlements trade until October 26.
The company plans to use about ₹350 crore for debt repayment or prepayment, ₹400 crore for organic growth, and the remainder for general corporate purposes.
- Who
- Ola Electric Mobility and its eligible shareholders.
- What
- A rights issue of 37.03 crore partly paid-up shares priced at ₹27 each, targeting ₹999.74 crore if fully subscribed.
- Where
- The rights issue is for shareholders of Ola Electric; the articles do not specify a physical location.
- When
- The record date is October 13, 2026; the issue is scheduled to open October 22 and close October 30, 2026.
- Why
- To raise funds for debt repayment or prepayment, organic growth initiatives, and general corporate purposes.
Key facts
- Issue price
- ₹27 per share, including a ₹17 premium
- Issue size
- 37,02,72,665 partly paid-up equity shares; ₹999.74 crore if fully subscribed
- Discount to market price
- About 26% below the Wednesday closing price of ₹36.32
- Entitlement ratio
- Two rights shares for every 25 shares held on the record date
- Payment schedule
- ₹16.20 per share on application and ₹10.80 through a first and final call
- Issue dates
- Scheduled to open October 22 and close October 30, 2026; rights entitlements trade until October 26
- Planned use of proceeds
- About ₹350 crore for debt repayment or prepayment, ₹400 crore for organic growth, and the balance for general corporate purposes
- Promoter participation
- Bhavish Aggarwal said he would pledge a 4.32% stake to fund his participation; Ola Electric said no shares were being sold
Quotes
Ola Electric Mobility
The company, in its Wednesday filing
“The board of Ola Electric has approved a rights issue of up to ₹1,000 crore at ₹27 per share, payable in two calls. The issue price has been fixed by the board at about 26% below the current market price, giving all existing shareholders an opportunity to add to their holdings at a substantial discount”
livemint.com
“No shares are being sold. The promoter will invest alongside all other shareholders on the same terms.”
financialexpress.com
Sources
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