Ola Electric Mobility shares surged 3.4% to ₹43.32 after the opening bell on Thursday, September 24, following the company’s announcement of a proposed rights issue of equity shares. The jump lifted the stock to an early market high, up from ₹41.87 at the previous equity market close. Investors reacted positively to the prospect of a rights issue that would allow participation by all eligible shareholders, including retail, institutional and promoter groups, subject to applicable laws.

The rally was short‑lived as selling pressure emerged early in the session. Trading volumes exceeded 95 million equity shares across NSE and BSE by the morning hours, with sell orders dominating on the NSE. By 9:36 am IST, the stock had slipped 1.3% to ₹41.28, reflecting the downward pressure from investors who had taken profits after the initial surge.

The rights issue proposal was disclosed after market hours on Wednesday, September 23, and the company has scheduled a board of directors meeting for Monday, September 28, 2026, to consider the plan. Ola Electric stated that the rights issue route is being considered to enable participation by all eligible shareholders, including retail, institutional and promoter group, subject to applicable laws. The company will release detailed offering terms after the board meeting.

Ola Electric had earlier received approval to raise up to ₹1,500 crore through a rights issue, of which ₹780 crore has already been raised via a qualified institutional placement in June 2026. If the board approves the proposal, the company would need to obtain all regulatory and statutory approvals before finalising the rights issue, marking a subsequent method of fundraising from the market.

NSE data shows that Ola Electric shares have risen about 12% in the last five trading sessions and delivered 10% returns to investors over the past month. On a year‑to‑date basis, the stock has risen 9.5% in 2026, but it has declined more than 27% over the last year. The company’s market capitalisation stood at ₹19,226 crore as of the trading session on September 24, 2026.

The EV maker’s shares reached a 52‑week high of ₹59.20 on September 23, 2025, while the 52‑week low earlier this year was ₹22.25 on March 16, 2026. These figures illustrate the volatility in the company’s share price over the past year, despite the recent gains from the rights issue announcement. The market capitalisation of ₹19,226 crore reflects the current valuation of the company following the recent trading activity.