Ola Electric seeks to raise up to ₹1,500 crore

Ola Electric's board has approved a proposal to raise up to ₹1,500 crore through equity shares or convertible securities, subject to regulatory and shareholder approval. This follows a ₹780 crore QIP completed in June. The capital infusion is intended to support the company's expansion into new territories, including the energy storage market, and to manage a debt load that exceeded ₹1,600 crore as of May 2026.

The company is currently navigating significant operational and financial challenges. Revenue from operations fell 50% year-on-year to ₹2,253 crore in FY26, while vehicle deliveries decreased to 173,794 units. To address declining sales and market share, Ola Electric is planning to establish a dealer network of over 500 locations within the next two quarters.

In terms of leadership, Chief Operations Officer Hyun Shik Park has resigned for personal reasons, effective September 5. Meanwhile, the board has re-appointed Manoj Kohli and Shradha Sharma as independent directors for second terms.