Ola Electric to Raise ₹1,500 Crore to Power Next Growth Phase

has approved plans to raise up to ₹1,500 crore through a mix of equity shares or convertible instruments such as warrants, via routes like QIP, rights issue, or private placement which is subject to shareholder approval. While the company hasn’t specified how the funds will be used, this move follows its recent entry into the clean energy space with Ola Shakti, a portable battery energy storage system (BESS) launched on October 16. The fundraising could strengthen Ola’s push beyond EV mobility and support its broader energy ambitions. Meanwhile, Ola Electric’s shares closed at ₹53.69 on October 24, below its IPO price of ₹76.