New Delhi: Ola Electric Mobility on Monday said its wholly owned subsidiary, Ola Electric Technologies Pvt. Ltd. (OET), has approved the allotment of preference shares worth ₹100 crore to Ola Cell Technologies Pvt. Ltd., another group company, as part of an internal fund infusion exercise.
In a regulatory filing, the company said OET’s board cleared the third tranche of allotment of 10 crore non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS), each with a face value of ₹10, aggregating to a total consideration of ₹100 crore.
The shares have been issued on a preferential basis through private placement to Ola Cell Technologies, which is also a wholly owned subsidiary of Ola Electric Mobility. The infusion follows shareholder approval obtained at the company’s annual general meeting on August 22, 2025, for variation in the utilisation of IPO proceeds.
The company noted that the funds will be infused in multiple tranches, with further allotments to be disclosed as and when additional capital is deployed. The OCRPS carry a nominal coupon of 0.001% and are non-participating in nature.
The board meeting of Ola Electric Technologies was held on December 23 and concluded within 30 minutes, the filing said. The move reflects continued capital reallocation within the Ola Electric group as it strengthens its electric vehicle and cell manufacturing ecosystem.