Ola Electric Announces Board Meeting to Consider Fundraising Through NCDs

Ola Electric Mobility Limited has scheduled a board meeting for Thursday, May 22, 2025, to consider raising funds through the issuance of Non-Convertible Debentures (NCDs) or other eligible securities. The company informed the stock exchanges of this development in a regulatory filing dated May 19.

According to the filing, the board will discuss fundraising "by way of issuance of Non-Convertible Debentures (NCDs) or any other eligible securities, in one or more tranches, on a private placement basis or such other methods, as may be permitted under applicable laws."

The announcement comes as Ola Electric continues to expand its electric vehicle portfolio in India's growing EV market. The company informed both the National Stock Exchange of India (NSE) and BSE Limited about the upcoming board meeting in compliance with Regulation 29(1)(d) of the SEBI Listing Obligations and Disclosure Requirements.

Ola Electric also reminded investors that the trading window for dealing in the company's securities has been closed since April 1, 2025, following an earlier intimation dated March 31. The trading window will reopen 48 hours after the declaration of the company's financial results.

The company, which was formerly known as Ola Electric Mobility Private Limited, trades under the scrip symbol OLAELEC on NSE and scrip code 544225 on BSE. The intimation was signed by Pritam Das Mohapatra, Company Secretary and Compliance Officer of Ola Electric.

Ola Electric has been at the forefront of India's electric two-wheeler market and has been working to strengthen its financial position as it competes with traditional vehicle manufacturers and other EV startups in the rapidly evolving sector. The company went public earlier this year after transitioning from a private limited company to a public limited entity.

The regulatory filing noted that the announcement would also be available on the company's website under the investor relations section.