Ola Electric Mobility Limited announced that its material wholly-owned subsidiary, Ola Electric Technologies Private Limited (“OET”), has approved the second tranche allotment of Non-cumulative and Non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (“OCRPS”) for a total consideration of ₹250 Crore to Ola Cell Technologies Private Limited (“OCT”). The allotment occurred on October 29, 2025.
Ola Electric Arm Issues Preference Shares
Ola Electric Technologies Private Limited (“OET”), a material wholly-owned subsidiary of Ola Electric Mobility Limited, has allotted Non-cumulative and Non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (“OCRPS”). This allotment was approved at a board meeting held on October 29, 2025.
Details of the Allotment
The second tranche of the allotment includes 25,00,00,000 (Twenty-Five Crore) OCRPS, each with a nominal value of INR 10. The total consideration for this tranche amounts to INR 250,00,00,000 (Rupees Two Hundred and Fifty Crore only). These OCRPS were allotted to Ola Cell Technologies Private Limited (“OCT”), another material wholly owned subsidiary of the company, on a preferential basis through private placement.
Future Tranches
Ola Electric mentioned that details for further tranches of allotments will be provided as and when funds are infused and allotments are completed by OET.
Source: BSE