Ola Electric up 7% as board approves ₹1700-cr fundraise via NCDs and others

Ola Electric Mobility share price gains 7 per cent after board gave a nod to raising ₹1700 crore via NCDs and other other debt instruments

Ola Electric Mobility shares climbed 7.3 per cent in trade on Friday, May 23, 2025. The demand for the stock came after the company's board approved the issuance of securities aggregating up to ₹1,700 crore.

 

At 1:31 PM, Ola Electric share price was up 4.1 per cent at ₹53.61 per share on the BSE. In comparison, the BSE Sensex was up 1.07 per cent at 81,819.89. The market capitalisation of the company stood at ₹23,646.46 crore. The 52-week high of the stock was at ₹157.53 per share and the 52-week low of the stock was at ₹45.55 per share.  

 

Ola Electric fundraising 

On Thursday, through a filing, Ola Electric's board approved to raise ₹1,700 crore via the issuance of Non-Convertible Debentures (NCDs) or any other eligible debt securities.

 

The company will also raise funds through term loans, and working capital facilities.

 

"We would like to inform you that the Board of Directors of Ola Electric Mobility Limited ("the company"), at its meeting held today, Thursday, May 22, 2025, has inter-alia, considered and approved the proposal of fundraising by borrowing funds within the borrowing limits approved by the shareholders of the Company, by way of: (i) term loans, working capital facilities; or (ii) issuance of Non-Convertible Debentures (NCDs) or any other eligible debt securities, in one or more tranches, on a private placement basis or such other methods, as may be permitted under applicable laws," the filing read.  

About Ola Electric 

Ola Electric Mobility is an Indian electric vehicle (EV) company, founded with the aim of accelerating India’s transition to sustainable mobility, Ola Electric focuses primarily on the design, manufacturing, and sale of electric scooters. The company launched its flagship products, the Ola S1 and S1 Pro, in 2021, quickly becoming one of the leading players in India's fast-growing EV two-wheeler segment. With a strong emphasis on local manufacturing, including its large-scale Futurefactory in Tamil Nadu, Ola Electric also aims to expand into electric motorcycles and cars, as part of its long-term vision to build a comprehensive EV ecosystem.