Business news · Corporate · 07 Oct 2026
IN Automobile and Auto Components
Ola Electric Mobility's board approved the terms of a rights issue of 37.03 crore partly paid-up shares at Rs 27 each, including a Rs 17 premium, to raise Rs 999.74 crore. Shareholders on the record date of October 13 are entitled to two new shares for every 25 held. The issue opens on October 22 and closes on October 30, with October 26 the last day to renounce rights in the market. The shares closed at Rs 36.32 on October 7, up 1%.
The issue price is about 26% below the last close, and at two for 25 the new shares add 8% to the share count once fully paid. Because the shares are partly paid, the company receives the money in instalments, not all at once. Ola Electric is an electric two-wheeler maker that is still spending on its factory and cell plant, so the issue is a funding event for the company and a choice for each holder between paying in and being diluted. Founder Bhavish Aggarwal's pledge of a 4.32% stake for the rights issue was reported earlier in the week. The stock has ranged between Rs 22.25 and Rs 57.95 over 52 weeks.
Reported by Upstox — “Ola Electric Mobility board gives nod for ₹1,000 crore fundraising via rights issue; check record date” ↗ on 07 Oct 2026.
NSE stocks, from the last close on or before 07 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Automobile and Auto Components | 52 | +0.4% | 29 of 52 | +1.3 pts |
| All tracked stocks | 804 | -0.9% | 321 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| Ola Electric Mobility Ltd. OLAELEC | ₹36.32 | ₹34.99 | -3.7% |
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