Ola Electric Moves Ahead With Rights Issue As Board Forms Key Committee

Ola Electric Mobility Limited has approved the constitution of a rights issue committee as it progresses with its proposed fundraising plan. The decision was taken by the company’s Board of Directors at its meeting held on 28 September 2026, according to a regulatory filing to the stock exchanges.

The committee has been given the necessary powers to take steps required to implement the rights issue. However, the filing does not disclose the issue size or other specific terms of the proposed offering.

On 29 September 2026 at 10:30 am, Ola Electric shares were trading at ₹36.41, down ₹1.44 or 3.83% on the National Stock Exchange (NSE). The stock opened at ₹37.84 against the previous close of ₹37.86, touched a high of ₹37.85 and fell to a low of ₹36.30 in the early trade.

Ola Electric Rights Issue Committee Gets Three Members

The rights issue committee comprises three members of the Board. Bhavish Aggarwal, Chairman and Managing Director (MD), will serve as its Chairperson.

Manoj Kumar Kohli, an independent director, has been appointed as a member of the committee. Navalur Dattatreya Singh Shashank, also an independent director, is the third member.

The committee’s constitution follows the company’s earlier communication dated 23 September 2026. The latest filing was made under Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to the NSE and the Bombay Stock Exchange (BSE).

The company has also stated that the filing will be available through its investor relations section.

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