Ola Electric announces up to ₹1,000Cr shareholder installments plan
Business
Ola Electric is set to raise up to ₹1,000 crore by offering existing shareholders the chance to buy more shares and pay in installments, a move just announced today.
This comes weeks after Ola's earlier plan to raise ₹1,500 crore, showing they're doubling down on creative ways to fund their business as competition heats up in the EV space.
Ola Electric registrations and revenue decline
Earlier, Ola brought in ₹780 crore through institutional investors but still saw its vehicle registrations decline to 43,062 units in Q1 FY27 from 54,676 units a year earlier.
Revenue also dipped to ₹455 crore, while market share slid from 7.6% in August to 6.1% in September, signs that Ola's fighting hard for its spot as rivals like Ather Energy and TVS Motor step up their game.