Aiming to expand operations and strengthen EV manufacturing, Ola Electric has secured board approval to raise ₹15 billion.
Electric vehicle maker Ola Electric Mobility Ltd has approved a proposal to raise up to ₹15 billion through a combination of equity shares and convertible securities, the company said in a stock exchange filing. The fundraise, cleared by the board on October 25, 2025, may be executed through one or more routes, including a further public offer, rights issue, qualified institutional placement (QIP), or private placement. Pricing, timing, and structure will be finalised later, subject to shareholder and regulatory approvals.
The company said the proceeds will be used to strengthen its balance sheet and support ongoing operations but did not specify further objectives. The decision comes a little over a year after the Bhavish Aggarwal-led firm raised ₹55 billion via its initial public offering (IPO) in August 2024, at which time it claimed to be adequately funded for two years with a cash balance of ₹31.97 billion as of June 2025.
The move follows a turbulent phase for the EV maker, marked by investor exits from SoftBank, Z47, and Tiger Global, as well as intensifying competition from Bajaj Auto and TVS Motor, which have surpassed Ola in monthly EV registrations.
Financial pressures have mounted too, with the company’s Q1 FY26 consolidated net loss widening 23.3% year-on-year to ₹4.28 billion, while revenue from operations nearly halved to ₹8.28 billion. The firm also faced governance scrutiny after its auditors flagged a “material weakness” in inventory verification at a subsidiary.
