Ola Electric stock tumbles 9% after 4-day rally; what to watch next week

Shares of Ola Electric Mobility tumbled as much as 9% to ₹38.65 apiece on the NSE on Friday, September 25. The decline comes after four consecutive sessions of gains, during which the stock surged 13% through Thursday, September 24 (closing basis).

The stock has been in focus as the exchange filings on Wednesday evening showed that Ola Electric is scheduled to hold a meeting of the board of directors on Monday, September 28, 2026, to consider the proposal of raising funds via the rights issue, subject to the necessary approval.

“Ola Electric today informed the stock exchanges that it is seeking Board approval for a proposed rights issue of equity shares. 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 informed the stock exchanges.

Ola Electric had received an earlier enablement to raise up to ₹1,500 crore, of which ₹780 crore was raised through the June 2026 QIP (qualified institutional placement), and the company has subsequently chosen the rights issue route for its capital raise, with this proposal pending board approval.

The proposed capital raise could put the company on the path to cash breakeven without further funding in the near future, said a banking source tracking the development.

Ola's promoter group, led by Chairman and Managing Director Bhavish Aggarwal, which together holds around 32.97% in the company, is also expected to participate in the proposed rights issue, the source cited earlier added.

Further details will be disclosed, subject to applicable approvals and regulatory processes.

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In August, Ola Electric unveiled an ambitious expansion of its 'Shakti' energy storage portfolio, designed to store energy when it is available and deploy it when it is needed, from keeping a home powered through an outage to managing renewable energy at grid scale.

The unveiling was done on India's 80th Independence Day, Ola Electric said in a statement.

Built around indigenous LFP battery technology and the company's vertically integrated cell-to-system capabilities, Ola Shakti creates a single architecture across three markets: home energy with Shakti Gen2, commercial and infrastructure energy with Shakti Rack, and industrial and utility-scale energy with Mahashakti, it added.

"The use cases of our world-class battery and cell technology will manifest beyond electric mobility," said Bhavish Aggarwal, Chairman and Managing Director, Ola Electric.

He further said, "Ola Shakti extends that innovation across every scale, from the home to the grid, helping India store and use clean energy intelligently. It is the natural next step as we leverage our Gigafactory, indigenous LFP cells, and nationwide network to deliver reliable, affordable energy storage without incremental capital intensity."

Shakti Gen2 serves as the residential entry point, combining battery backup, intelligent energy management, and solar storage in one system, the company said.