Ola Electric Technologies Private Limited (OET), a wholly-owned subsidiary of Ola Electric Mobility Limited, has approved the allotment of 10,00,00,000 Non-cumulative and Non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS) to Ola Cell Technologies Private Limited (OCT) for a total consideration of ₹100,00,00,000. The allotment, made on a preferential basis through private placement, aims to support OET’s operational and strategic initiatives.
Preference Share Allotment
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). The board of OET approved this allotment at its meeting held on December 23, 2025.
Details of the Allotment
The allotment consists of 10,00,00,000 (Ten Crore) OCRPS, each with a nominal value of ₹10. The total consideration for this allotment amounts to ₹100,00,00,00,000 (Rupees Hundred Crore only). The shares were issued to Ola Cell Technologies Private Limited (OCT), a material wholly-owned subsidiary of the Company and fellow subsidiary of OET, on a preferential basis through private placement.
Purpose of the Allotment
The issuance of these preference shares aims to provide OET with additional financial flexibility to support its operational activities and strategic initiatives. The funds will be utilized by OET for its various business requirements.
Future Tranches
The Company will intimate details for the further tranches as and when funds are infused and allotments are made by OET.
Source: BSE