Ola shares in focus as Rs 1,000 crore rights issue priced at 26% discount; key details

Ola Electric Mobility Ltd shares are in focus on Thursday after the electric two-wheeler manufacturer proposed a rights issue of 37,02,72,665 partly paid-up shares with a face value of Rs 10 each at an issue price of Rs 27 per share, a 26 per cent discount to its prevailing stock price of Rs 36.32. The issue size aggregates to Rs 999.73 crore.

Ola said it will offer eligible equity shareholders the right to subscribe to shares in the ratio of two rights equity shares for every 25 fully paid-up equity shares held on the record date, Tuesday, October 13, 2026.

"In this regard, please find enclosed the Letter of Offer dated October 07, 2026 which was approved by the Board of Directors of the Company at its meeting held on October 07, 2026," Ola informed stock exchanges.

Ola said shareholders will be required to pay Rs 16.20 per rights equity share, constituting 60 per cent of the issue price, at the time of application. The remaining 40 per cent, or Rs 10.80 per rights equity share, will be payable on the first and final call, which is expected to be completed on or before October 31, 2027.

Ola said its promoter Bhavish Aggarwal has confirmed that he will subscribe to the full extent of his rights entitlements and will not renounce them, except to the extent of renunciation within the Promoter Group or to specific investors, if any, pursuant to Regulation 77B of the SEBI ICDR Regulations, which will be intimated in due course.

"Further, our promoter has confirmed that, he may (i) apply for and subscribe to additional equity shares, or (ii) subscribe to equity shares, if any, which remain unsubscribed in the issue; in each case if so deemed fit and to the extent that the aggregate shareholding of our Promoter and the Promoter Group is compliant with the minimum public shareholding requirements under the SCRR and the SEBI Listing Regulations," Ola said.