Ola Electric Subsidiary to Invest Rs 877.64 Crore in Fellow Subsidiary

Ola Electric Mobility Limited announced that its wholly-owned subsidiary, Ola Cell Technologies Private Limited, has approved an investment of up to Rs 877.64 crore in Ola Electric Technologies Private Limited, another wholly-owned subsidiary of the company. The investment was approved by the board of directors of Ola Cell Technologies at a meeting held on October 1, 2025.

The investment will be made through subscription to 87.76 crore non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares, each with a face value of Rs 10. The shares will be issued by Ola Electric Technologies on a preferential basis in one or more tranches.

The transaction follows the approval granted by shareholders of Ola Electric Mobility at the Annual General Meeting held on August 22, 2025, for variation of the objects and terms of utilization of Initial Public Offering proceeds. Both Ola Cell Technologies and Ola Electric Technologies are fellow subsidiaries, being wholly-owned by the parent company.

Ola Electric Technologies, incorporated on January 6, 2021, operates as an electric vehicle manufacturer in India. The company is engaged in the development and production of electric vehicles and core components, including battery packs, motors, and vehicle frames through vertically integrated operations. It conducts in-house research and development and sells its products through a direct-to-consumer network.

The subsidiary reported a turnover of Rs 4,510 crore for the financial year 2024-25. This represents a decline from Rs 5,000 crore in the previous financial year 2023-24, while the company had recorded Rs 2,586 crore in turnover during 2022-23.

The company stated that the transaction is being conducted on an arm's length basis and falls within the regulatory framework of related party transactions. The investment is expected to be completed within one year from September 30, 2025. No governmental or regulatory approvals are required for the transaction.