Ola Electric Mobility Limited has announced the allotment of 12,76,40,000 non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS) to Ola Cell Technologies Private Limited.
This transaction was executed through a preferential allotment on a private placement basis.
On April 27, 2026, Ola Electric Technologies Private Limited, a wholly-owned subsidiary of Ola Electric Mobility Limited, approved the fourth tranche of OCRPS allotment.
The shares, each with a nominal value of ₹10, total a consideration of ₹127,64,00,000. The allotment was made to Ola Cell Technologies, another wholly-owned subsidiary.
The decision to allot these shares follows the approval of shareholders to vary the terms of the utilisation of the Initial Public Offering (IPO) proceeds during the Annual General Meeting held on August 22, 2025.
This allotment aligns with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The board meeting of Ola Electric Technologies commenced at 9:15 p.m. and concluded at 9:45 p.m. on the same day.
The OCRPS were allotted to a single investor, Ola Cell Technologies Private Limited.
The issue was fully subscribed, and the funds have been infused at an issue price of ₹10 per share, aggregating to a total of ₹127,64,00,000.
Read More: Ola Electric Share Price Gains Over 2%: Stock Surges 60% in One Month: Key Insights for Investors!
As of April 27, 2026, at 3:30 PM, Ola Electric Mobility share price on NSE was closed at ₹36.93 up by 3.19% from the previous closing price.
Ola Electric's recent allotment of 12,76,40,000 OCRPS to Ola Cell Technologies signifies a strategic move within its corporate structure. This transaction, executed through a private placement, reflects the company's ongoing financial strategies and shareholder-approved initiatives.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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: Apr 28, 2026, 8:26 AM IST
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