What the board approved
At its meeting on September 28, 2026, Ola Electric Mobility's board approved an issue of partly paid-up equity shares of ₹10 face value by way of a rights issue to eligible shareholders as on a record date to be notified later. The company said the issue is subject to regulatory and statutory approvals as may be required under applicable law. The disclosure, made under Regulation 30 of the SEBI Listing Regulations, follows a prior intimation dated September 23, 2026.
Terms still to come
The mechanics that matter to a shareholder remain undetermined. Per the filing, the rights issue price, the entitlement ratio, the record date, the timing and the terms of payment are all still to be decided by the board and disclosed to the exchanges in due course. The total number of securities will be fixed against the overall amount cap. In short, the approval sets a ceiling and a structure; the specifics that determine dilution and pricing are not yet public.