Ola Electric Board Greenlights Major Fundraise of Up to ₹1,500 Crore
Gist – In a major move to fuel its expansion, Ola Electric’s board has approved a plan to raise up to ₹1,500 crore in fresh funds, subject to shareholder approval. The capital is expected to support the company’s recent strategic pivot into the clean energy segment, including the launch of its ‘Ola Shakti’ portable battery, as it seeks to grow beyond its core electric scooter business. This fundraising announcement comes amidst a challenging period for the company’s stock, which is currently trading significantly below its IPO price.