Letter of Offer shared for rights issue of partly paid-up equity shares at ₹27 each

Ola Electric has shared its Letter of Offer for a rights issue of up to 37,02,72,665 partly paid-up equity shares at ₹27 each, in the ratio of 2 Rights Equity Shares for every 25 shares held.

Wed 7 Oct 2026

Rights Issue Size

up to 37,02,72,665 partly paid-up equity shares

Issue Price

₹27 each

Rights Ratio

2 Rights Equity Shares for every 25 shares held

What has been shared

The company has submitted a Letter of Offer dated October 7, 2026 with SEBI, BSE Limited and the National Stock Exchange of India for a rights issue of partly paid-up equity shares. The Board approved the Letter of Offer at its meeting held on October 7, 2026.

The issue in numbers

• Up to 37,02,72,665 partly paid-up equity shares of face value ₹10 each
• Issue price ₹27 per Rights Equity Share, including a premium of ₹17 per share
• Aggregating up to ₹999.74 crore, assuming full subscription, allotment and receipt of all call monies
• Rights ratio: 2 Rights Equity Shares for every 25 fully paid-up equity shares held on the record date

How you pay

• On application: ₹16.20 per share, being 60% of the issue price (face value ₹6.00 plus premium ₹10.20)
• First and final call: ₹10.80 per share, being 40% of the issue price (face value ₹4.00 plus premium ₹6.80), expected to be completed on or prior to October 31, 2027
• The Board retains the right to change the schedule of payment, subject to compliance with applicable laws

Issue programme

• Last date for credit of rights entitlements: Wednesday, October 14, 2026
• Issue opening date: Thursday, October 22, 2026
• Last date for on-market renunciation: Monday, October 26, 2026
• Issue closing date: Friday, October 30, 2026
• Finalisation of basis of allotment and date of allotment: Monday, November 02, 2026
• Date of credit of rights equity shares: Tuesday, November 03, 2026
• Date of listing: Wednesday, November 04, 2026

What this means for a shareholder

A rights issue gives eligible equity shareholders the first right to buy new shares in proportion to their existing holding. Because these shares are partly paid-up, you pay only a part of the price at the time of applying and the rest when the company makes the call for the balance.

• Only equity shareholders on the record date, October 13, 2026, are eligible, and only those who have provided an Indian address to the company can participate
• Shareholders who do not want to subscribe can renounce their rights entitlements; on-market renunciation closes on Monday, October 26, 2026, and off-market renunciation must be completed so that entitlements are credited to the renouncee on or prior to the issue closing date
• No withdrawal of an application is permitted after the issue closing date, and the Board or the Rights Issue Committee can extend the issue period, not exceeding 30 days from the issue opening date

The company has received in-principle approvals from BSE and NSE, each dated October 6, 2026, for listing the Rights Equity Shares to be allotted. NSE is the designated stock exchange for the issue. MUFG Intime India Private Limited is the registrar to the issue and ICICI Bank Limited is the banker to the issue.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.