Ola Electric Mobility board gives nod for ₹1,000 crore fundraising via rights issue; check record date

“This is further to the meeting of the Board of Directors of the Company (the “Board”) held on September 28, 2026, approving the offer and issuance of partly paid-up equity shares of the Company (the “Rights Equity Shares”) for an amount not exceeding ₹1,000 crores, by way of a rights issue (“Rights Issue”),” the company said in a regulatory filing.

The board has approved the terms of its rights issue of 37.03 crore partly paid-up equity shares, aggregating to ₹999.74 crore. The rights issue is priced at ₹27 per share, including a premium of ₹17 per share.

The Bhavish Agarwal-led firm has set October 13, 2026, as the record date for determining the shareholders who will be eligible to receive the rights entitlement.

The issue will open on October 22 and close on October 30, 2026. The firm further said that the rights entitlements will be available for on-market renunciation until Monday, October 26, 2026.

The board has fixed the rights entitlement ratio at 2 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 included in the Letter of Offer.

Ola Electric Mobility Q1 FY27 results

The EV maker’s consolidated net losses narrowed to ₹336 crore in the first quarter of the financial year 2026-27, compared year-on-year (YoY) with ₹428 crore 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.

Ola’s revenue from core operations declined 45% YoY to ₹455 crore in the period under review, in comparison to ₹828 crore in the same period a year earlier.

The consolidated statements also showed that Ola Electric’s total expenses dropped 42% to ₹620 crore in the first quarter, from ₹1,065 crore in the same period a year earlier.

Ola Electric Mobility share price trends

On Wednesday, Ola Electric shares closed at ₹36.32 apiece on the National Stock Exchange, rising 1%.

Shares of the firm had hit a 52-week high of ₹57.95 on October 17, 2025, and a 52-week low of ₹22.25 on March 16, 2026.

According to NSE data, as of September 7, 2026, Ola Electric Mobility has a total market capitalisation of ₹16,810.38 crore.