The issue price comprises a face value of ₹10 and a premium of ₹17. At ₹27, the rights issue is priced about 26% below Ola Electric’s current market price, allowing existing shareholders to buy additional shares at a discount.
Of the ₹27 issue price, ₹16.20, or 60%, will be payable on application. The remaining ₹10.80, or 40%, will be payable through a first and final call, which is expected to be completed on or before October 31, 2027.
Ola Electric rights issue: Key dates and entitlement
Ola Electric has fixed October 13, 2026 as the record date for determining shareholders eligible to receive rights entitlements.
The rights issue will open on October 22 and close on October 30, subject to the company’s right to extend the issue period in accordance with applicable laws.
Shareholders will be entitled to two rights shares for every 25 fully paid-up equity shares held on the record date.
The company currently has 462.84 crore outstanding equity shares. If the issue is fully subscribed and all call money is paid, the number of outstanding shares will rise to 499.87 crore.
Ola Electric said its promoter will participate in the rights issue alongside other shareholders on the same terms.Rights issue comes after ₹780 crore QIP
The proposed fundraise comes just months after Ola Electric raised ₹780 crore through a qualified institutional placement, or QIP, in June. The QIP was oversubscribed by 56%.
The issue attracted institutional investors including Goldman Sachs and BNP Climate Fund, as well as Indian mutual funds such as Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund and Baroda BNP Paribas Mutual Fund.
Ola Electric’s Fund Raising Committee subsequently approved the closure of the QIP after receiving applications and funds from eligible institutional investors.
Shares of Ola Electric Mobility closed at ₹36.26 on October 7, up 0.83% from the previous close.
Also Read: TD Power Systems opens QIP at ₹775.35 per share, may offer 5% discount