Business · India Bureau
Ola Electric to raise ₹1,000 crore through rights issue
The electric two-wheeler manufacturer's board has approved a fundraising plan via equity issuance, marking the latest capital-raising effort by the Bengaluru-based company. The move follows the firm's earlier announcement of plans to mobilise up to ₹1,500 crore.
LSN India ·
Ola Electric's board of directors has greenlit a ₹1,000 crore fundraising initiative through a rights issue, according to company sources. The rights offering represents part of a broader capital-raising strategy announced by the company in recent weeks.
The electric two-wheeler maker had previously outlined plans to mobilise up to ₹1,500 crore to support its expansion and operational requirements. The current rights issue approval marks a significant step in executing that capital plan.
Ola Electric, which has emerged as a major player in India's electric vehicle segment, has been actively seeking capital to fund manufacturing capacity and market expansion. The Bengaluru-based company entered the market with its electric scooters and has since established itself among the country's leading EV manufacturers.
Rights issues allow existing shareholders to purchase additional shares before they are offered to the general public, typically at a discounted price. The development underscores the company's continued focus on strengthening its financial position amid India's growing transition toward electric mobility.