Ola Electric board clears ₹1,000 crore rights issue as part of larger fundraising plan

Ola Electric’s board has approved a rights issue of partly paid-up equity shares worth up to ₹1,000 crore, with key terms including the price, entitlement ratio, record date and timing still pending, Inc42 reports. The move appears to cover ₹1,000 crore of a broader plan to raise up to ₹1,500 crore approved days earlier, while the route for the remaining ₹500 crore remains unclear. Inc42 also reports the company is stepping up investment in EVs, battery cell manufacturing and battery energy storage systems. In its core electric two-wheeler business, Ola Electric’s August market share improved to 7.6% from 6.8% in July. Separately, its Q1 FY27 net loss narrowed 22% year over year to ₹336 crore even as operating revenue fell 45% to ₹455 crore.