Ola Electric Mobility Limited has officially secured in-principle approvals from stock exchanges for its anticipated rights issue, aiming to raise a substantial amount not exceeding Rs 1,000 crore. This pivotal development paves the way for the electric vehicle manufacturer to proceed with its capital raising plans.
Following these regulatory clearances, the company's Board of Directors is set to convene today, October 7, 2026. The agenda for this crucial meeting includes determining the specific terms of the rights issue, such as the issue price per share, the rights entitlement ratio for existing shareholders, and the crucial record date for the offering.
This board meeting was originally slated for October 5, 2026, but was postponed to allow for the completion of pending regulatory and exchange clearances. The receipt of in-principle approval on October 6, 2026, cleared the path for the meeting to proceed as rescheduled.
In related market activity, shares of Ola Electric Mobility ended trading on Tuesday, October 6, 2026, 2% lower at Rs 35.96 on the BSE. The company's market capitalization stood at Rs 16,643 crore.