The board of directors of Ola Electric Mobility approved a rights issue of 37.03 crore partly paid‑up equity shares, amounting to ₹999.74 crore. The issue is priced at ₹27 per share, which includes a premium of ₹17 per share. The Bhavish Agarwal‑led firm set October 13, 2026 as the record date for determining shareholders eligible for the rights entitlement. The rights issue will open on October 22 and close on October 30, 2026, with on‑market renunciation available until Monday, October 26, 2026 for all eligible shareholders.

Ola Electric Mobility’s consolidated net losses narrowed to ₹336 crore in the first quarter of FY27, compared with ₹428 crore year‑on‑year in the same period a year earlier. On a sequential basis, the company’s net losses narrowed to its June quarter levels from the ₹500 crore net loss in the fourth quarter of FY26. Revenue from core operations declined 45% YoY to ₹455 crore, versus ₹828 crore a year earlier. Total expenses dropped 42% to ₹620 crore from ₹1,065 crore in the same period a year earlier.

Ola Electric shares closed at ₹36.32 on the National Stock Exchange on Wednesday, rising 1%. From the beginning of the year, the stock has fallen over 3%. Over a month’s time, it has lost 4%, while for a six‑month period it has climbed 26%. The shares hit a 52‑week high of ₹57.95 on October 17, 2025 and a 52‑week low of ₹22.25 on March 16, 2026. As of September 7, 2026, the firm’s market capitalisation stood at ₹16,810.38 crore in the Indian market.

The board fixed the rights entitlement ratio at two rights equity shares for every 25 fully paid‑up equity shares held by eligible shareholders as of the record date, October 13, 2026. Other terms of the rights issue, including details on fractional entitlements, will be disclosed in the Letter of Offer. The rights issue is expected to raise up to ₹1,000 crore, with the aggregate amount of ₹999.74 crore reflecting the pricing at ₹27 per share.

The board’s approval followed a meeting held on September 28, 2026, where the offer and issuance of partly paid‑up equity shares for an amount not exceeding ₹1,000 crore were approved. The rights issue will open on October 22 and close on October 30, 2026, with on‑market renunciation available until October 26, 2026. The Bhavish Agarwal‑led firm has set October 13, 2026 as the record date for determining eligible shareholders. The rights issue is priced at ₹27 per share, including a premium of ₹17 per share for all investors.