Ola Electric’s board has approved a fresh fundraise of up to ₹1,500 crore, three months after the company raised ₹780 crore through a qualified institutional placement (QIP), according to an exchange filing. The Bhavish Aggarwal-led electric vehicle maker plans to raise capital by issuing equity shares and/or securities convertible into equity. The proposal is subject to shareholder and regulatory approvals.
The company may undertake the fundraise through multiple routes, including a further public offer, rights issue, QIP, private placement, or issuance of instruments such as convertible debentures, warrants, American Depository Receipts, and Global Depository Receipts. The filing did not disclose the intended use of the proceeds. Ola Electric’s previous ₹780.24 crore QIP in June was part of an earlier approval to raise up to ₹1,500 crore, cleared by the board in October 2025 and approved by shareholders in November.
In the prior QIP, Ola Electric allocated ₹225 crore to repay borrowings, ₹335 crore for organic growth initiatives, and ₹184.87 crore for general corporate purposes. As of May 20, 2026, the company and its subsidiaries had outstanding borrowings of ₹1,637.61 crore. The fresh fundraise aligns with Ola Electric’s ongoing investments in its electric vehicle, battery cell manufacturing, and battery energy storage system businesses.
Ola Electric’s latest fundraise proposal follows its ₹780 crore QIP earlier this year and reflects continued capital raising efforts to support expansion. The company’s filings indicate the fresh ₹1,500 crore fundraise will be executed through one or more routes, pending approvals from shareholders and regulatory authorities.