Ola Electric Approves ₹1,500 Cr Fundraise As COO Resigns

5 Sept 2026, 8:45 pm · 7d ago · 1 min read · Entrackr

Amount

₹1,500 Cr

Ola Electric’s board has approved a plan to raise up to ₹1,500 crore through equity shares or convertible securities via QIP, rights issue, or private placement, subject to approvals. The move follows a ₹780 crore QIP completed in June. Alongside the fundraise approval, Chief Operating Officer Hyun Shik Park resigned on September 5 due to personal reasons. The EV maker faces headwinds, including falling market share and executive turnover. In Q1 FY27, its operational revenue declined 45% year-on-year to ₹455 crore, while net loss narrowed to ₹336 crore.