Ola Electric Approves ₹1,500 Crore Fundraise as COO Hyun Shik Park Resigns

Ola Electric has approved a fundraise of up to ₹1,500 crore. The company's board has kept several fundraising routes open, including Qualified Institutional Placement, Further Public Offer, and other equity-linked securities. Ola Electric's authorised share capital will rise from approximately ₹8,318.50 crore to ₹8,721.87 crore. This increase is to provide room for the proposed issuance of additional securities. The company had previously raised approximately ₹780 crore through a Qualified Institutional Placement in June 2026. Ola Electric is investing across several capital-intensive areas, including indigenous battery cell manufacturing, gigafactory capacity expansion, and energy storage solutions. The proposed fundraise comes as Ola Electric faces much stronger competition in India's electric two-wheeler market. The company registered approximately 13,849 electric two-wheelers in August 2026, down around 29% year-on-year. Ola Electric's latest financial numbers show a revenue from operations of approximately ₹455 crore for Q1 FY27, down around 45% year-on-year from ₹828 crore.