Board approves Rights Issue of 37,02,72,665 shares at ₹ 27 each; record date October 13, 2026

Ola Electric's board approved the terms of a rights issue: 37,02,72,665 partly paid-up equity shares at ₹ 27 each, aggregating to ₹ 9,99,73,61,955 on full subscription and payment of call monies.

Wed 7 Oct 2026

Issue Size and Price

37,02,72,665 partly paid-up equity shares at ₹ 27 each, aggregating to ₹ 9,99,73,61,955

Entitlement Ratio

2 rights shares for every 25 held

Record Date

October 13, 2026 (issue opens October 22, 2026; closes October 30, 2026)

Board finalises the terms of the rights issue

Ola Electric Mobility's board met on October 07, 2026 and approved the terms of a rights issue of partly paid-up equity shares. The offer and issuance was approved by the board on September 28, 2026, and the company has received in-principle approval from BSE Limited and National Stock Exchange of India Limited for the proposed issue.

Headline terms

• Size: 37,02,72,665 Rights Equity Shares for an amount aggregating to ₹ 9,99,73,61,955, assuming full subscription and payment of call monies.
• Price: ₹ 27 per Rights Equity Share.
• Entitlement ratio: 2 Rights Equity Shares for every 25 fully paid-up equity shares held on the record date, i.e. October 13, 2026.
• Outstanding equity shares: 4,62,84,08,313 before the Rights Issue and 4,99,86,80,978 after, assuming full subscription and payment of call monies.

Payment in two parts

Since these are partly paid-up shares, the money is collected in instalments rather than all at once:

• On application: ₹ 16.20 per Rights Equity Share, which is due when the shareholder applies.
• First and final call: ₹ 10.80 per Rights Equity Share, expected to be completed on or prior to October 31, 2027.
• The board retains the right to change the schedule of payment, such as the timing of the First and Final Call, on account of business requirements and other commercial considerations, subject to compliance with applicable laws.

Key dates to note

• Record date: October 13, 2026, the date used to decide which shareholders are eligible to receive the rights entitlement.
• Issue opening date: Thursday, October 22, 2026.
• Closure of Rights Entitlements trading, being the last date for on-market renunciation: Monday, October 26, 2026.
• Issue closing date: Friday, October 30, 2026. The board or the Rights Issue Committee has the right to extend the Issue period as it may determine from time to time, within the outer limit stated in the update.
• ISIN for the Rights Entitlement: INE0LXG20016.
• Eligible shareholders are requested to ensure that renunciation through off-market transfer is completed so that the Rights Entitlements are credited to the demat accounts of the renouncees on or prior to the Rights Issue closing date.

What a rights issue means for a shareholder

• A rights issue gives existing shareholders the first right to buy new shares of the company, usually in proportion to the shares they already hold. Here the proportion works out to 2 new shares for every 25 shares held on the record date.
• Because the shares are partly paid-up, only part of the price is collected at the time of application; the balance is called later, and the notice of the call sets the date for that payment.
• A shareholder may take up the entitlement in full or in part; entitlements can also be renounced on-market during the trading window or transferred off-market, subject to the process described in the update.
• Other terms of the Rights Issue, including how fractional entitlements are handled, are to be included in the Letter of Offer to be shared by the company.

The board also approved the Letter of Offer to be shared with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited.

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