Ola Electric shares jump 4% as subsidiary clears Rs 878 crore fund raise; key details
From a technical perspective, the stock’s relative strength index (RSI) stands at 53.4, while the money flow index (MFI) is at 38.9, both hovering in the mid-range zone.
- Oct 1, 2025,
- Updated Oct 1, 2025 9:57 AM IST
Shares of Ola Electric Mobility Ltd gained 4 per cent in Wednesday’s trade after the company said its wholly owned unit, Ola Electric Technologies Pvt Ltd (OET), has cleared a fund-raising proposal.
On Wednesday, shares of Ola Electric rose as much as 3.9 per cent to hit the day’s high of Rs 58.87 on the BSE, compared with Tuesday’s close of Rs 56.66. By 9:42 am, the stock was trading 1.91 per cent higher at Rs 57.74, giving the company a market valuation of Rs 25,516 crore. The counter currently trades about 45 per cent above its 52-week low of Rs 39.58.
In a stock exchange filing, Ola Electric said OET’s board and shareholders have approved the issue of up to 87.76 crore preference shares to fellow subsidiary Ola Cell Technologies Pvt Ltd on a preferential basis. The optionally convertible redeemable preference shares (OCRPS) will carry a face value of Rs 10 each, aggregating to Rs 877.64 crore.
The company said the allotment will be made “in one or more tranches” through private placement and that details will be disclosed at the time of conversion.
Ola added that the move is in line with shareholder approval at its AGM in August to revise the utilisation of IPO proceeds.
From a technical perspective, the stock’s relative strength index (RSI) stands at 53.4, while the money flow index (MFI) is at 38.9, both hovering in the mid-range zone. The scrip shows very high volatility, with a one-year beta of 1.4.
On the moving averages front, Ola Electric trades comfortably above its short- and long-term averages, with the 50-day SMA at 50.5 and the 200-day SMA at 56.9.
Shares of Ola Electric Mobility Ltd gained 4 per cent in Wednesday’s trade after the company said its wholly owned unit, Ola Electric Technologies Pvt Ltd (OET), has cleared a fund-raising proposal.
On Wednesday, shares of Ola Electric rose as much as 3.9 per cent to hit the day’s high of Rs 58.87 on the BSE, compared with Tuesday’s close of Rs 56.66. By 9:42 am, the stock was trading 1.91 per cent higher at Rs 57.74, giving the company a market valuation of Rs 25,516 crore. The counter currently trades about 45 per cent above its 52-week low of Rs 39.58.
In a stock exchange filing, Ola Electric said OET’s board and shareholders have approved the issue of up to 87.76 crore preference shares to fellow subsidiary Ola Cell Technologies Pvt Ltd on a preferential basis. The optionally convertible redeemable preference shares (OCRPS) will carry a face value of Rs 10 each, aggregating to Rs 877.64 crore.
The company said the allotment will be made “in one or more tranches” through private placement and that details will be disclosed at the time of conversion.
Ola added that the move is in line with shareholder approval at its AGM in August to revise the utilisation of IPO proceeds.
From a technical perspective, the stock’s relative strength index (RSI) stands at 53.4, while the money flow index (MFI) is at 38.9, both hovering in the mid-range zone. The scrip shows very high volatility, with a one-year beta of 1.4.
On the moving averages front, Ola Electric trades comfortably above its short- and long-term averages, with the 50-day SMA at 50.5 and the 200-day SMA at 56.9.