Ola Electric To Open ₹1,000 Crore Rights Issue On October 22

7 Oct 2026, 8:08 pm · 9h ago · 1 min read · Inc42

Amount

₹1,000 Cr

Stage

Rights Issue

EV manufacturer Ola Electric has scheduled its ₹1,000 crore rights issue to open on October 22 and close on October 30. The board set an issue price of ₹27 per share, representing an over 5% discount to its prevailing market price. Shareholders will receive two rights shares for every 25 shares held as of October 13. Eligible investors must pay 60% on application and the remainder upon final call. Founder Bhavish Aggarwal pledged a 4.32% stake to finance his participation. Proceeds will allocate ₹350 crore toward debt repayment and ₹400 crore toward business expansion.