OEOla Electric Mobility544225Rights issue announcement

Promoter group entities renounce 23,855,476 rights entitlements to two Specific Investors

Ola Electric has confirmed that two Promoter Group entities renounced their rights entitlements in the partly paid-up rights issue to two Specific Investors, who applied for the same number of entitlements on the issue opening date.

By ScoutQuest · Thu 22 Oct 2026, 10:56 AM IST · 2 min read

Entitlements renounced by ANI Technologies

12,833,054 to Motilal Oswal Financial Services Limited

Entitlements renounced by Indus Trust

11,022,422 to Calliope Capital Advisors LLP

Total rights entitlements renounced

23,855,476

What the update says

Ola Electric has confirmed the applications received from two Specific Investors in its rights issue of partly paid-up equity shares. These investors applied for rights entitlements that were renounced in their favour by two members of the Promoter Group. The applications were submitted on the Issue Opening Date, Thursday, October 22, 2026, before 11:00 A.M. The disclosure follows an earlier newspaper advertisement dated October 15, 2026, published on October 16, 2026, which set out the details of the Specific Investors. This intimation is a continuation of that advertisement.

Who renounced what

• ANI Technologies Private Limited renounced 12,833,054 rights entitlements to Motilal Oswal Financial Services Limited, which applied for 12,833,054 entitlements.
• Indus Trust (through its trustee Ankush Agarwal) renounced 11,022,422 rights entitlements to Calliope Capital Advisors LLP, which applied for 11,022,422 entitlements.
• Total rights entitlements renounced: 23,855,476. Total rights entitlements applied for by the Specific Investors: 23,855,476.

What renunciation means

In a rights issue, an existing shareholder gets the right to subscribe to a set number of shares. A renouncer gives up that right in favour of another person, called the renouncee. Here, the two Promoter Group entities gave up their entitlements, and the two Specific Investors stepped in and applied for exactly the same number of entitlements. In each case, the number applied for matches the number renounced.

Why the confirmation matters

The company is confirming, based on confirmations from the Specific Investors and their custodians, that these applications were actually received on the opening day within the stated time. This tells the reader that the renounced portion of the issue has been applied for by the named investors.

What to keep in mind

• This is a disclosure about the receipt of applications for rights entitlements, not about the company's operations or financial performance.
• The update does not change anything about how the rights issue works for other shareholders. It only records that these two Specific Investors applied for the entitlements renounced to them.
• The intimation is also available on the company's website under its investor relations announcements section.

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.

About ScoutQuest · Logos provided by Logo.dev