Ola Electric Mobility Limited has approved a proposal to raise up to Rs 1,500 crore through the issuance of equity shares and other securities, as the electric two-wheeler manufacturer looks to strengthen its financial position and support its future business plans. According to regulatory filings submitted by Ola Electric, the company’s board of directors approved an enabling resolution for the proposed fundraising.
The company may raise the capital through various routes, including a further public offer, rights issue, qualified institutional placement, private placement or other permissible methods. The proposed fund raise will be subject to the required shareholder and regulatory approvals.
The latest fundraising plan comes only a few months after Ola Electric raised Rs 780 crore through a qualified institutional placement in June 2026. The company had initially planned to raise Rs 500 crore through that issue but ended up raising more. The fresh proposal of up to Rs 1,500 crore highlights the company’s continued focus on securing additional capital as it expands its electric vehicle and battery related operations. As part of the proposed capital-raising process, Ola Electric has also approved an increase in its authorised share capital. Its authorised share capital will rise from approximately Rs 8,318.50 crore to Rs 8,721.87 crore, requiring an amendment to Clause V of the company’s Memorandum of Association.
Meanwhile, Ola Electric announced a change in its senior management. Chief Operations Officer Hyun Shik Park resigned from the company with effect from the close of business on September 5, 2026. The company said his resignation was due to personal reasons, and did not announce a replacement for the position at the time of the filing. The leadership change comes at an important time for Ola Electric, as the company continues to work on improving its electric two-wheeler business while expanding into battery manufacturing and energy storage.
Ola Electric is also ramping up production at its Gigafactory in Tamil Nadu and development of its battery technology and energy-storage businesses. The company faces increasing competition in India’s electric two-wheeler market from established manufacturers including TVS Motor, Bajaj Auto and Ather Energy.
Ola Electric recorded a 29 percent year-on-year decline in sales to 13,849 units in August 2026 (Financial Express reports). The latest fundraising could therefore provide additional financial flexibility as Ola works to improve sales, expand its product portfolio and strengthen its position in the competitive EV market.
Meanwhile, Ola Electric has also proposed the re-appointment of Manoj Kumar Kohli and Shradha Sharma as Non-Executive Independent Directors for a second five-year term. Their proposed tenure will run from December 6, 2026, to December 5, 2031, subject to shareholder approval at the company’s upcoming annual general meeting scheduled for September 30.
The Rs 1,500 crore fundraising plan and change in senior management mark an important phase for Ola Electric, as the company continues to invest in electric vehicles, battery-cell manufacturing and energy storage, with the additional capital playing a key role in supporting its next stage of expansion while it works to regain momentum in India’s rapidly growing electric mobility market.