Ola Electric Mobility Limited announces that its material subsidiary, Ola Electric Technologies Private Limited (OET), has allotted ₹400 Crore worth of Non-cumulative and Non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS) to Ola Cell Technologies Private Limited (OCT). This allotment was approved by OET’s Board on October 7, 2025, and represents the first tranche of a larger issuance.
Subsidiary Share Issuance
Ola Electric Technologies Private Limited (OET), a material wholly owned subsidiary of Ola Electric Mobility Limited, has approved the allotment of Non-cumulative and Non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS) to Ola Cell Technologies Private Limited (OCT). The initial allotment, approved on October 7, 2025, involves 40,00,00,000 (Forty Crores) OCRPS.
Financial Details
The OCRPS have a nominal value of INR 10/- each, with the total consideration for this first tranche amounting to ₹400,00,00,000 (Rupees Four Hundred Crores only). This issuance is being conducted on a preferential basis through private placement.
Future Tranches
The announcement indicates that this is the initial tranche of a larger planned issuance. Details regarding subsequent tranches will be disclosed as funds are infused and further allotments are made by OET.
Source: BSE
