Ola Electric Approves ₹1,500 Crore Fundraise as COO Resigns

6 Sept 2026, 11:03 am · 6d ago · 1 min read · YourStory

Amount

₹1,500 Cr

The board of EV maker Ola Electric Mobility has approved a proposal to raise up to ₹1,500 crore via equity shares and convertible securities, subject to regulatory and shareholder approvals. Alongside the fundraise, Chief Operating Officer Hyun Shik Park resigned effective September 5, citing personal reasons. The board also approved increasing authorised share capital to ₹8,722 crore from ₹8,318 crore to accommodate the issuance. Independent directors Shradha Sharma and Manoj Kumar Kohli were approved for second five-year terms. The capital infusion follows a ₹780 crore qualified institutional placement completed earlier this year.