Offering further details, the company said that the funds would be raised through the issue of equity shares or securities that can be converted into or exchanged for equity shares.

The fundraise could be carried out through one or more permitted routes, including a further public offer, rights issue, qualified institutions placement (QIP), private placement, or other permissible methods.

Ola Electric Mobility is an electric vehicle manufacturer with vertically integrated capabilities across EVs, battery cells and related technologies. The company operates its manufacturing facility in Tamil Nadu and a battery innovation centre in Bengaluru focused on cell and battery technology.

The company had reported a net loss of Rs 336 crore in Q1 FY27, compared with a net loss of Rs 426 crore in Q1 FY26. Revenue from operations declined 45.0% year-on-year (YoY) to Rs 455 crore in Q1 FY27 as against Rs 828 crore in Q1 FY26.

The scrip shed 0.37% to currently trade at Rs 38.09 on the BSE.