Ola Electric secures shareholder nod for IPO fund reallocation; stock slides for 2nd day
In a BSE filing, the firm said 99 per cent of shareholders voted in favour of the resolution to reallocate IPO proceeds, which will fully cover its near-term organic growth capital needs.
- Aug 22, 2025,
- Updated Aug 22, 2025 4:40 PM IST
Ola Electric Mobility Ltd on Friday said it has secured shareholders' approval for the reallocation of funds raised through its initial public offering (IPO). The Bengaluru-based company concluded its first annual general meeting (AGM) since listing in 2024.
In a BSE filing, the firm said 99 per cent of shareholders voted in favour of the resolution to reallocate IPO proceeds, which will fully cover its near-term organic growth capital needs.
To drive the next phase of expansion, Ola Electric has reallocated funds toward organic growth initiatives, general corporate purposes, and debt repayment. Following the revision, the unutilised amount stands at Rs 1,049 crore for R&D, Rs 901 crore for organic growth, Rs 395 crore for debt repayment/prepayment and Rs 248 crore for general corporate purposes.
On the stock-specific front, Ola Electric extended its decline for a second straight session, slipping 3.38 per cent to close at Rs 47.18. Both BSE and NSE have placed the stock under the short-term Additional Surveillance Measure (ASM) framework to caution investors amid sharp price swings.
The pure-play EV maker recently reaffirmed its commitment to India's energy and mobility sovereignty at a company event. It unveiled the Ferrite Motor, eliminating the need for imported heavy rare earth magnets, launched the S1 Pro+, S1 Pro Sport 5.2kWh and Roadster X+ 9.1kWh powered by 4680 Bharat Cells, showcased a prototype of its Moonshot Project – Diamondhead, and rolled out the AI-driven MoveOS 6. The firm also shared details of its Gen 4 platform for upcoming two-, three- and four-wheelers.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, suggested investors with a higher risk appetite may continue to hold the stock.
Founded in 2017, Ola Electric manufactures EVs and key components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the electric two-wheeler (E2W) maker.
Ola Electric Mobility Ltd on Friday said it has secured shareholders' approval for the reallocation of funds raised through its initial public offering (IPO). The Bengaluru-based company concluded its first annual general meeting (AGM) since listing in 2024.
In a BSE filing, the firm said 99 per cent of shareholders voted in favour of the resolution to reallocate IPO proceeds, which will fully cover its near-term organic growth capital needs.
To drive the next phase of expansion, Ola Electric has reallocated funds toward organic growth initiatives, general corporate purposes, and debt repayment. Following the revision, the unutilised amount stands at Rs 1,049 crore for R&D, Rs 901 crore for organic growth, Rs 395 crore for debt repayment/prepayment and Rs 248 crore for general corporate purposes.
On the stock-specific front, Ola Electric extended its decline for a second straight session, slipping 3.38 per cent to close at Rs 47.18. Both BSE and NSE have placed the stock under the short-term Additional Surveillance Measure (ASM) framework to caution investors amid sharp price swings.
The pure-play EV maker recently reaffirmed its commitment to India's energy and mobility sovereignty at a company event. It unveiled the Ferrite Motor, eliminating the need for imported heavy rare earth magnets, launched the S1 Pro+, S1 Pro Sport 5.2kWh and Roadster X+ 9.1kWh powered by 4680 Bharat Cells, showcased a prototype of its Moonshot Project – Diamondhead, and rolled out the AI-driven MoveOS 6. The firm also shared details of its Gen 4 platform for upcoming two-, three- and four-wheelers.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, suggested investors with a higher risk appetite may continue to hold the stock.
Founded in 2017, Ola Electric manufactures EVs and key components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the electric two-wheeler (E2W) maker.