Bengaluru, October 31: Ola Electric Mobility Founder and CEO Bhavish Aggarwal has committed ₹265.14 crore to participate in the company’s ₹1,000 crore rights issue, pledging a 4.32% stake as the EV maker looks to stabilize its finances. The capital raise closed on October 30, providing crucial support to the company as it addresses ongoing financial pressures.
The rights issue opened for subscription on October 22, 2026, offering up to 37.03 crore partly paid-up equity shares at ₹27 per share. Bhavish Aggarwal also participated in the entitlement by pledging a portion of his own shareholding without selling existing equity.
The proceeds of the ₹1,000 crore fundraising drive are aimed at debt reduction, funding ongoing business expansion, and supporting general corporate operations. This development comes at a time when Ola Electric is facing increasing competitive pressures in the EV space, as the company looks to transition from a direct-to-consumer (D2C) model to an extensive physical dealer network.
While this development is aimed at strengthening the balance sheet of the company, financial analysts say that the funds raised would be an essential liquidity buffer that will be vital to improve service execution and restore long-term profitability for the company.
