loading
loading
Ola Electric Mobility shares rallied 19.5% to Rs 35.78 on Tuesday, October 27, as the electric two-wheeler maker’s Rs 1,000 crore rights issue remained in focus. Ola Electric’s Rs 1,000 crore rights issue opened on October 22 and closes on October 30. The company is issuing 37.03 crore partly paid-up shares at Rs 27 apiece, with an upfront payment of Rs 16.20 per share. Motilal Oswal Financial Services and Calliope Capital Advisors have applied for 2.39 crore shares, while founder Bhavish Aggarwal has pledged a 4.32% stake to fund his participation. The rally comes amid SoftBank affiliate SVF II Ostrich (DE) LLC’s stake sale in Ola Electric. According to a regulatory filing, the investment vehicle sold shares and rights entitlements between January 6 and October 22, reducing its stake from 12.9% to 11.7%. The rally follows a 14% jump in Ather Energy shares on Monday after the rival electric two-wheeler maker reported a turnaround in Q2 FY27, with a net profit of Rs 1.26 crore against a loss of Rs 154 crore in the year-ago quarter. According to Vahan data, Ola Electric ranked fifth with 13,449 registrations and a 6.49% market share, down 3.53% from 13,941 units in August. The company is yet to file its Q2 FY27 results. In Q1 FY27, Ola Electric’s revenue declined 45% year-on-year to Rs 455 crore from Rs 828 crore in Q1 FY26. At the same time, its losses widened 21% to Rs 336 crore. Ola Electric’s share price closed at over 16% higher Rs 34.8 per share, with a total market capitalization of Rs 17,395 crore ($1.83 billion)
document fetched 2026-10-28 02:53