Ola Electric Mobility Ltd has approved a proposal to revise the utilisation of proceeds from its ₹5,500 crore Initial Public Offering (IPO), as per a filing dated March 18, 2026.
The decision was taken at a board meeting held on 18 March 2026. The proposed changes remain subject to shareholder approval and will be detailed further in the notice to shareholders.
A portion of funds initially set aside for research and product development has been reassigned. Out of ₹1,505 crore allocated to this segment, ₹575 crore will be redistributed.
Following this adjustment, the revised allocation for research and development stands at ₹930 crore, with no change in the utilisation timeline for the remaining amount.
The reallocated amount includes ₹475 crore directed towards repayment or prepayment of borrowings. This raises the allocation under this category from ₹395 crore to ₹870 crore. Another debt-related allocation of ₹800 crore remains unchanged.
The revision increases the overall share of IPO proceeds being used to address outstanding liabilities.
An additional ₹100 crore has been moved to organic growth initiatives, taking the total allocation in this segment to ₹1,300.64 crore.
The timeline for deploying these funds has been extended to the financial year 2026-27. The allocation for general corporate purposes remains unchanged at ₹1,374.42 crore, with a similar utilisation timeline.
The allocation towards capital expenditure for expanding cell manufacturing capacity from 5 GWh to 6.4 GWh remains unchanged. No revisions have been made to this component, including its timeline.
Overall, the total IPO size and aggregate allocation across categories remain the same despite internal adjustments.
As of 11 March 2026, unutilised IPO proceeds stood at ₹1,295.63 crore, including issue-related expenses. Issue expenses amounting to ₹224.94 crore remain unchanged, with a small unutilised portion of ₹2.77 crore.
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As of March 19, 2026, 11:29 am, Ola Electric Mobility Ltd share price stood at ₹23.95, a 3.66% decrease from the previous close.
The proposed variation shows a reallocation within existing funds rather than any change in total capital raised. Further disclosures are expected following shareholder approval.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 19, 2026, 12:03 PM IST
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