Ola Electric gets nod to tweak ₹6,145cr IPO plan
Ola Electric just got the green light from shareholders to change how it spends the ₹6,145 crore raised in its August 2024 IPO.
At its first AGM on August 22, 2025, nearly everyone backed using more of the money for growth, research and development (R&D), paying off debt, and other business needs.
Shares close at ₹47.18 on BSE
The new plan puts ₹1,049 crore toward R&D and ₹901 crore into growth projects.
Another ₹395 crore will help pay down debt, with ₹248 crore set aside for general corporate use.
Shares closed at ₹47.18 on the BSE—a dip of 3.38% that day.
Ola Electric is India's top e-scooter maker
Launched in Bengaluru in 2017, Ola Electric builds electric scooters and key parts like battery packs at its massive Ola Futurefactory.
The company led India's e-scooter revenue charts last year (FY23), and with electric two-wheelers expected to jump from just 4.5% to as much as 56% market share by FY28, Ola's betting big on this growth wave.
Fund reallocation aligns with Ola's vision for EV growth
This fund reallocation matches Ola's goal to ramp up innovation and cut debt—moves that could make it even stronger financially.
With almost unanimous shareholder support, there's clear confidence in Ola's long-term vision for India's fast-growing EV scene.