Ola Electric Mobility Limited has announced that its material wholly owned subsidiary, Ola Electric Technologies Private Limited (OET), has successfully completed the fourth tranche of its preferential allotment. The company issued 12,76,40,000 Series A Optionally Convertible Redeemable Preference Shares (OCRPS) to its fellow subsidiary, Ola Cell Technologies Private Limited, for a total consideration of INR 127.64 crore. This infusion of capital supports the ongoing strategic growth and internal funding requirements of the group.
Details of the Share Allotment
On April 27, 2026, the Board of Directors of Ola Electric Technologies Private Limited (OET) approved the issuance of 12,76,40,000 preference shares. These are classified as 0.001% Non-cumulative and non-participating Series A OCRPS. Each share has a nominal face value of INR 10, bringing the total value of the transaction to INR 127,64,00,000.
Strategic Capital Allocation
The allotment was executed on a preferential basis via private placement to Ola Cell Technologies Private Limited (OCT), another material wholly owned subsidiary of the parent company. The issue has been fully subscribed, and the necessary funds have been successfully infused into OET. This transaction aligns with the company’s previously approved plans for the utilization of capital proceeds and reinforces the operational integration between the parent company and its specialized technology and cell manufacturing arms.
Future Conversion Outlook
The newly issued OCRPS instruments are currently held by Ola Cell Technologies Private Limited. While the instruments carry a 0.001% dividend rate, they are optionally convertible, with further details regarding the conversion process or potential tenure changes to be disclosed by the company as they arise in accordance with future corporate actions.
Source: BSE
