Ola Electric Shares Fall 9% as Rights Issue Plan Emerges

Ola Electric Mobility shares fell as much as 9% on September 25, snapping a four-session gaining streak, after the company announced that its board will meet on September 28 to consider raising fresh capital through a rights issue. The proposed fundraising will be subject to regulatory and statutory approvals. The announcement comes just a few months after Ola Electric raised ₹780 crore through a qualified institutional placement (QIP) in June. The QIP was subscribed 56% above the shares on offer and attracted institutional investors including Goldman Sachs, BNP Climate Fund and several Indian mutual funds. Meanwhile, the company has reported an improvement in electric two-wheeler registrations. VAHAN registrations almost doubled sequentially to 43,719 units in Q1 FY27, compared with 22,252 units in the March quarter. June was the strongest month in recent quarters, with 16,144 registrations, which Ola Electric attributed to stronger retail execution, customer demand and better product availability.