Electrical two-wheeler maker Ola Electric has permitted a plan to lift as much as Rs 1,000 crore by a rights subject of partly paid-up fairness shares to eligible shareholders.

The corporate’s board permitted the proposal on 28 September. The problem stays topic to relevant regulatory and statutory approvals.

Ola Electrical has not but finalised the difficulty value, rights entitlement ratio, document date, variety of shares, cost phrases or the opening and shutting dates of the difficulty. These particulars can be determined by the board or its rights subject committee.

A rights subject permits a listed firm to lift capital by providing new shares to its present shareholders, normally in proportion to their present holdings.

In accordance with Ola Electrical’s Draft Letter of Provide, about Rs 350 crore of the proceeds are proposed for use for compensation or prepayment of borrowings, whereas Rs 400 crore has been allotted for natural development initiatives. The steadiness is meant for normal company functions.

A part of a wider fundraising plan

The newest proposal follows a separate choice by Ola Electrical’s board on 5 September to approve an enabling decision permitting the corporate to lift as much as Rs 1,500 crore.

That fundraising will be carried out by fairness shares or securities convertible into or exchangeable for fairness shares. Permitted routes embody an extra public supply, rights subject, QIP, personal placement or a mix of those, topic to shareholder and different required approvals.

The Rs 1,000 crore rights subject is due to this fact being pursued underneath a broader fundraising authorisation of as much as Rs 1,500 crore. The corporate has not stated that it’s going to essentially elevate the complete Rs 1,500 crore or specified whether or not it’ll use one other route for any extra quantity.

On the similar 5 September assembly, the board permitted a rise in Ola Electrical’s authorised share capital from about Rs 8,318.50 crore to Rs 8,721.87 crore, topic to shareholder approval.

Earlier QIP raised Rs 780 crore

Ola Electrical had individually raised Rs 780.24 crore by a QIP in June. The corporate allotted 21.76 crore fairness shares to QIB at Rs 35.86 per share, based on an trade submitting dated 4 June.

That QIP was carried out underneath an earlier fundraising authorisation of as much as Rs 1,500 crore permitted by Ola Electrical’s board in October 2025. It’s separate from the contemporary enabling decision permitted in September 2026.

The newest fundraising plan comes after Ola Electrical reported decrease income however a narrower loss within the first quarter of FY27. Income from operations fell 45% year-on-year to Rs 455 crore within the quarter ended June 2026, from Rs 828 crore a 12 months earlier.

Its consolidated web loss narrowed to Rs 336 crore from Rs 428 crore within the corresponding quarter of the earlier monetary 12 months.

Ola Electrical has additionally been increasing past its EV enterprise into battery-cell manufacturing and vitality storage.