, in its post-market-hours filing on Wednesday, said its board has fixed the issue price for the proposed rights issue at ₹27 per equity share, including a premium of ₹17 per rights equity share. This represents a 26% discount to the stock’s Wednesday closing price of ₹36.32, with the amount payable in two calls.
“The board of Ola Electric has approved a rights issue of up to ₹1,000 crore at ₹27 per share, payable in two calls. The issue price has been fixed by the board at about 26% below the current market price, giving all existing shareholders an opportunity to add to their holdings at a substantial discount,” the company said in its filing on Wednesday.
The company said it will issue 37,02,72,665 partly paid-up equity shares with a face value of ₹10 each, aggregating to ₹999.74 crore, assuming full subscription and payment of all call monies.
How will the ₹27 rights issue price be paid?
The rights issue price of ₹27 per share will be payable in two calls. On application, eligible shareholders will have to pay ₹16.20 per share, comprising ₹6 towards the face value and ₹10.20 towards the premium. This represents 60% of the total issue price.
The first and final call will require an additional payment of ₹10.80 per share, comprising ₹4 towards the face value and ₹6.80 towards the premium, representing the remaining 40% of the issue price, the filing showed.
The company further said that the board has retained the right to change the payment schedule, including the timing of the first and final call, depending on business requirements and other commercial considerations, subject to applicable laws.
Meanwhile, the record date for the rights issue has been fixed as October 13, 2026. This date will determine the shareholders who will be eligible to receive the rights entitlement.
When will the Ola Electric rights issue open and close?
The rights issue will open on Thursday, October 22, 2026, and is scheduled to close on Friday, October 30, 2026. The last date for trading of rights entitlements on the stock exchanges will be Monday, October 26, 2026.
Eligible shareholders who wish to renounce their rights entitlements through an off-market transfer will need to ensure that the transfer is completed in time for the entitlements to be credited to the demat accounts of the renounces on or before the rights issue closing date.
The board or the Rights Issue Committee will have the right to extend the issue period from time to time, subject to the issue period not exceeding 30 days from the issue opening date, including the opening date.
Under the rights issue, eligible shareholders will be entitled to receive two rights equity shares for every 25 fully paid-up equity shares held by them as of the record date, October 13, 2026.
How will Ola Electric’s equity share count change?
Ola Electric had 4,62,84,08,313 outstanding equity shares prior to the rights issue. Assuming full subscription and payment of all call monies, the number of outstanding equity shares will rise to 4,99,86,80,978 after the rights issue.