Ola Electric gets nod for rights issue: Meeting on issue price, rights ratio and record date today 

Shares of Ola Electric Mobility Limited are in focus today after the firm said it has received in-principle stock exchange approvals for its proposed Rs 1,000 crore rights issue.

Ola Electric Mobility shares ended 2% lower at Rs 35.96 on BSE on Tuesday. Market cap of the firm stood at Rs 16,643 crore.

The stock is neither overbought nor oversold on charts with a RSI of 41.5. An RSI above 70 signals a stock is in the overbought zone. On the other hand, Ola Electric shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day and 100 day moving averages.

The company's board of directors will determine crucial terms of the capital raise, including the issue price, rights entitlement ratio, and record date today. This meeting follows a postponement from October 5, 2026, which was deferred due to pending regulatory and exchange clearances.

"We wish to inform you that the Company has received the in-principle approval today, i.e., October 06, 2026 from the stock exchanges where the securities of the Company are listed for the proposed Rights Issue of the Company. Accordingly, a meeting of the Board of Directors of the Company is scheduled to be held on October 07, 2026 inter alia, to consider, discuss and decide various matters in connection with the Rights Issue of partly paid-up equity shares of the Company of face value ?10 each for an amount not exceeding Rs. 1,000 crores (Rupees One Thousand Crores), including but not limited to the specific terms of the Rights Issue, such as the determination of the Rights Issue price and related payment mechanism, rights entitlement ratio, the record date and timing of the Rights Issue and other related matters," said Ola Electric.