Ola Electric shares rise nearly 2% as arm approves third tranche of ₹100 crore funding for Ola Cell Technologies

The Bhavish Aggarwal firm said following shareholder nod to revise the use of IPO proceeds, its wholly owned subsidiary Ola Electric Technologies has approved a third tranche of funding of ₹100 crore by issuing 10 crore optionally convertible redeemable preference shares to Ola Cell Technologies, another group subsidiary, through a private placement.

“…we wish to inform you that Ola Electric Technologies Private Limited (“OET”), a material wholly owned subsidiary of the Company, has, at its Board meeting held on December 23, 2025, approved the third tranche of allotment of 10,00,00,000 (Ten Crore), Non-cumulative and Nonparticipating, 0.001% Series A Optionally Convertible Redeemable Preference Shares (“OCRPS”), having a nominal value of INR 10/- (Rupees Ten only), each, aggregating to a total consideration of INR 100,00,00,000 (Rupees Hundred Crore only), to Ola Cell Technologies Private Limited (“OCT”), a material wholly owned subsidiary of the Company and fellow subsidiary of OET, on a preferential basis through private placement,” the company said in a regulatory filing.

Recent development

On Tuesday, shares of Ola Electric Mobility gained 4.2% as the firm expanded its Hyperservice initiative with the launch of dedicated centres, designed to offer a same-day service guarantee to eligible customers at no additional cost.

As part of this expansion, the company will progressively upgrade its existing service centres into Hyperservice Centres, starting with Bengaluru.

The first Hyperservice centre is now operational in Indiranagar, Bengaluru, Ola Electric said in a statement. The centre is designed to fundamentally simplify and speed up the service experience, it added.

Customers can now get their vehicles serviced within the same day, without paying anything extra, while experiencing a fully digital and transparent service journey end-to-end, the Bengaluru-based firm said.

Ola Electric Mobility share price

At 10:25 AM, the stock was trading at ₹34.96 per share on the National Stock Exchange, rising 0.6%.

Shares of the firm had lost 15% over a month’s time, while they declined 20% in the last six months. On a year-to-date basis, shares of Ola Electric have fallen over 60%.

The company has a total market capitalisation of ₹15,292.35 crore, according to data on the NSE.