Ola Electric Board Approves Plan to Raise ₹1,500 Crore

7 Sept 2026, 8:00 am · 5d ago · 1 min read · Inc42

Amount

₹1,500 Cr

Ola Electric’s board has approved a proposal to raise up to ₹1,500 crore through equity shares or convertible securities, subject to shareholder and regulatory approvals. This move comes barely three months after the electric vehicle manufacturer raised ₹744 crore via a Qualified Institutional Placement. Saddled with more than ₹1,600 crore in debt as of May 2026, the company recently allocated ₹225 crore of its QIP proceeds toward loan repayments. The fresh capital aims to support Ola Electric’s turnaround efforts, debt management, network expansion to over 500 dealers, and foray into the energy storage market.