The fundraising may be carried out via multiple routes, including a further public offer, rights issue, qualified institutional placement (QIP), private placement or any other permitted modes.
This is subject to shareholder approval and regulatory clearances.
The approved fundraising comes a little over a year after Ola Electric, which listed on the bourses in August 2024, raised Rs 5,500 crore through a fresh issue in its initial public offering (IPO).
In May 2025, the Bengaluru-based company’s board had also approved plans to raise up to Rs 1,700 crore via non-convertible debentures and other debt instruments, marking its first post-IPO fundraising exercise.
This comes as investors, including SoftBank, Z47, Tiger Global Management, and others, have reduced their stakes in the company earlier this year.
Ola Electric’s shares have declined more than 40% from its IPO price of Rs 76. The stock closed at Rs 52.85 on Friday on the BSE, valuing the company at Rs 23,311 crore. Its listed peer Ather Energy has a market capitalisation of Rs 26,857 crore.
The company has faced a series of operational and regulatory challenges in recent months, including discrepancies in reported sales, customer complaints over vehicle quality, and missing trade certificates at several retail outlets.
It slipped to the fourth spot in India’s electric two-wheeler market in September, with a 13.2% share, down from 18.7% in August.
Also Read: Ola Electric CEO Bhavish Aggarwal talks profitability push as loss grows in Q1
For the April-June quarter, the company posted a net loss of Rs 428 crore, up from Rs 327 crore a year ago but narrower than the Rs 870 crore loss in March, with operating revenue at Rs 828 crore, roughly half from a year ago.
