Ola Electric Technologies Private Limited (OET), a wholly-owned subsidiary of Ola Electric Mobility Limited, has received approval to raise ₹877.64 crore. The funds will be raised through the issuance of non-cumulative, non-participating preference shares to Ola Cell Technologies Private Limited (OCT), another subsidiary. This strategic move aims to bolster OET’s financial capabilities and support its operational growth via private placement in one or more tranches.
Ola Electric Subsidiary Funding
Ola Electric Technologies Private Limited (OET), a key wholly-owned subsidiary of Ola Electric Mobility Limited, is set to receive a substantial financial boost. The Board of Directors approved the raising of funds on September 30, 2025, further endorsed by shareholders at an Extraordinary General Meeting held on the same day.
Details of Preference Share Issuance
The company will issue up to 87,76,40,000 non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS). These shares have a face value of ₹10 each. The total consideration aggregates to ₹877,64,00,000 (₹877.64 crore).
Strategic Investment by Ola Cell Technologies
The recipient of these preference shares is Ola Cell Technologies Private Limited (OCT), also a wholly-owned subsidiary and fellow subsidiary of OET. The issuance will occur in one or more tranches on a preferential basis through private placement. This funding initiative aligns with strategic objectives approved by shareholders on August 22, 2025, related to the utilization of Initial Public Offering (IPO) proceeds.
Source: BSE
