Today is the last day for investors to buy Ola Electric shares to qualify for the company’s Rs 1,000 crore rights issue. The firm fixed October 13 as the record date. Shareholders can buy new shares at Rs 27 each, which is cheaper than the recent market price of Rs 35.13.
Ola Electric Mobility has fixed October 13 as the record date for its Rs 1,000 crore rights issue, making today the last day for interested investors to buy shares of the EV scooter-maker to be eligible for the corporate action.
The Bhavish Aggarwal-led company last week fixed the issue price for its rights issue at Rs 27 per equity share, around 23% lower than the stock’s previous closing price of Rs 35.13 apiece on NSE, with the amount payable in two calls.
Only those shareholders who hold Ola Electric shares in their demat accounts as of Tuesday will be eligible for the rights issue. Due to SEBI's T+1 settlement norm, investors must purchase the company's shares at least one trading day before the record date so they are credited to their demat accounts by that date and qualify for the corporate action. This effectively makes today the final day for investors to buy the shares to be eligible.
Key things to know about Ola Electric's rights issue
Ola Electric has set the entitlement ratio at 2 rights equity shares for every 25 fully paid-up equity shares held as of the record date. The company said the issue gives all existing shareholders an opportunity to add to their holding at a substantial discount. 60% of the issue price is payable on application, with the balance due on a final call on a date to be set by the board. A two-call structure gives shareholders more time to pay.
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Ola Electric’s rights issue will open on October 22, and close on October 30. The last date for on-market renunciation of rights entitlements is October 26. The allotments will be finalised on November 2.
Rights issue is one of the methods used by a listed company to raise additional capital. It is an invitation to existing shareholders to buy additional new shares of the company. This type of issue gives existing shareholders securities called rights. With the rights, the shareholder can buy new shares at a discount to the market price on a stated future date.
Ola Electric share price
Ola Electric shares have dropped more than 5% in a week and around 6% in a month. The stock has overall fallen more than 6% in 2026 so far.
Overall, the shares of the company have fallen more than 30% in one year. The company’s current market capitalisation currently stands at around Rs 16,260 crore.
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(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
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