Ola Electric Technologies Allots Preference Shares to Subsidiary Worth INR 127.64 Crore
Ola Electric Mobility Limited's material subsidiary, Ola Electric Technologies Private Limited (OET), has approved the allotment of a tranche of preference shares to its fellow subsidiary, Ola Cell Technologies Private Limited (OCT). The transaction was executed through a preferential private placement.According to the details released, OET held a board meeting on April 27, 2026, during which it approved the allotment of the fourth tranche of Non-cumulative and Non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS).
The shares have a nominal value of INR 10 (Rupees Ten only) each. The allotment to Ola Cell Technologies Private Limited (OCT) amounts to 12,76,40,000 OCRPS. This transaction aggregates to a total consideration of INR 127,64,00,000 (Rupees One Hundred Twenty Seven Crores Sixty Four Lakhs only).
The details of the share allotment are summarized below:
| Parameter | Detail | Value |
|---|---|---|
| Alloting Entity | Ola Electric Technologies Private Limited (OET) | N/A |
| Recipient Entity | Ola Cell Technologies Private Limited (OCT) | N/A |
| Type of Shares | Non-cumulative and Non-participating 0.001% Series A OCRPS | N/A |
| Shares Allotted | 12,76,40,000 | Twelve Crores SeventySix Lakhs Forty Thousand |
| Nominal Value per Share | INR 10 | Rupees Ten only |
| Total Consideration | INR 127,64,00,000 | Rupees One Hundred Twenty Seven Crores Sixty Four Lakhs only |
| Issuance Method | Preferential private placement | N/A |
OLAELEC Stock Price Movement
On Monday, Ola Electric Mobility Limited shares edged higher, settling at ₹36.93 after gaining 2.82% for the session. The rally was marked by a strong push away from its previous close, supported by robust trading volume of 76.59 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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