Ola Electric rights issue opens today: Who are the investors applying for 2.39 crore entitlements? Check details
Ola Electric Mobility rights issue: Ola Electric Mobility's rights issue came into focus on Thursday, October 22, after the company confirmed that two specific investors had submitted applications for a total of 2.39 crore rights entitlements on the opening day of the issue.
In a regulatory filing dated October 22, 2026, the electric two-wheeler manufacturer said both investors had applied for all the rights entitlements transferred to them by the promoter-linked entities. The disclosure was made under Regulation 77B(2) of the Securities and Exchange Board of India’s Issue of Capital and Disclosure Requirements Regulations, 2018, as amended.
According to the filing, ANI Technologies Private Limited, a member of Ola Electric’s promoter group and the parent of Ola Cabs, renounced 1,28,33,054 rights entitlements in favour of Motilal Oswal Financial Services. The financial services company applied for the entire number of entitlements it received.
Separately, Indus Trust, acting through its trustee Ankush Agarwal, renounced 1,10,22,422 rights entitlements in favour of Calliope Capital Advisors. Calliope Capital also applied for all the entitlements transferred to it.
Together, the two investors applied for 2,38,55,476 rights entitlements, equivalent to approximately 2.39 crore. The filing confirmed the applications but did not specify the investors’ reasons for applying.
The Bhavish Aggarwal-led company had approved the issuance of partly paid-up equity shares through a rights issue of up to ₹1,000 crore on October 11, 2026.
The issue opened on Thursday, October 22, and is scheduled to close on Friday, October 30. Ola Electric has fixed the rights issue price at ₹27 per share, comprising a face value of ₹10 and a premium of ₹17.
The company’s board approved the issuance of 37,02,72,665 rights equity shares, aggregating to ₹9,99,73,61,955, or approximately ₹1,000 crore.
Ola Electric had fixed Tuesday, October 13, as the record date to determine shareholder eligibility. The rights issue ratio is two rights equity shares for every 25 fully paid-up equity shares held on the record date. This means eligible shareholders can subscribe to two additional shares for every 25 shares they held on October 13.
Before the issue, the company had 4,62,84,08,313 outstanding equity shares. If the issue is fully subscribed, the number will rise to 4,99,86,80,978 shares.
Ola Electric stock performance: Shares fall 5% in today's trade
Ola Electric shares fell 5% to an intraday low of ₹31.31 in Thursday’s trade. The stock has witnessed significant declines across several time frames, including a 10% fall in one week, 16% in one month, 14% in three months, 18% in six months and 41% over one year.
The stock had touched a 52-week high of ₹53.47 in October 2025 and a 52-week low of ₹20.83 in March 2026.
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HomeMarketsStock MarketsOla Electric rights issue opens today: Who are the investors applying for 2.39 crore entitlements? Check details
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