Ola Electric Shares Surge 20% Amid ₹1,000 Crore Rights Issue

27 Oct 2026, 3:58 pm · 2h ago · 1 min read · EntrackrNew

Shares of Ola Electric Mobility surged nearly 20% on October 27, closing at ₹34.8 apiece with a market capitalization of ₹17,395 crore ($1.83 billion). The rally coincided with the company’s ongoing ₹1,000 crore rights issue offering shares at ₹27 each. Founder Bhavish Aggarwal pledged a 4.32% stake to participate, while institutional investors Motilal Oswal and Calliope Capital applied for 2.39 crore shares. Meanwhile, SoftBank affiliate SVF II trimmed its holding from 12.9% to 11.7%. The surge also followed rival Ather Energy reporting a profitable turnaround in quarterly financial results.