Ola Electric Shares Fall 9% In Early Trade After 17% Four-Session Rally; Rights Issue In Focus

Ola Electric shares fell 9% in early trade to ₹38.75 apiece on the National Stock Exchange (NSE) on Friday, 25 September, snapping a sharp four-session rally that had lifted the stock 17%. The decline came despite a positive broader market trend and reduced the electric scooter maker’s market capitalisation to nearly ₹18,000 crore.

The fall comes ahead of a key board meeting on 28 September, when Ola Electric is set to consider raising funds through a rights issue. The proposed fundraise will be subject to regulatory and statutory approvals.

The company’s board had earlier approved plans to raise up to ₹1,500 crore through equity shares and other securities. The latest rights issue proposal comes only weeks after that decision. At 10:52 am, Ola Electric shares were down 8.54% on the NSE.

Gains In The Last Four Trading Sessions

Note that Ola Electric’s stock had gained 17% in the four trading sessions before Friday’s fall. The recent recovery followed a steep decline earlier in the year. Ola Electric shares had touched a 52-week high of ₹59.20 in September last year. The stock then fell more than 62% to a 52-week low of ₹22.25 in March 2026.

The shares have since recovered from those lows. Even so, they remain well below the company’s lifetime high of ₹157.40, which the stock hit in 2024 after making a flat debut in August that year.

Ola Electric Fundraise Plans

Ola Electric has already raised funds through the equity market this year. In June, the company raised ₹780 crore through a qualified institutional placement (QIP), higher than its initial plan to raise ₹500 crore through the issue.

The proposed rights issue will therefore add another potential source of capital for the company as it continues to expand its electric two-wheeler business.

Ola Electric Stock Performance

Ola Electric shares have gained around 5% so far in 2026. Strong sales data, production-linked incentive (PLI) benefits and other factors have supported the recovery in investor sentiment towards the electric scooter maker.

The stock’s Friday decline came even as the broader market traded higher, making the move notable after its recent run-up.

Mixed Operating Performance

Ola Electric’s operating performance has also remained mixed. It reported a net loss of ₹336 crore for the first quarter of FY27 last month, narrowing from ₹428 crore in the same quarter a year earlier.

However, revenue from operations fell 45% year-on-year during the quarter. The results came as the company continued to navigate a competitive electric two-wheeler market while working on its funding plans.

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