What the board approved
Ola Electric Mobility's board, meeting on 7 October 2026, finalised the terms of a rights issue first approved on 28 September 2026. The company will offer partly paid-up equity shares of ₹10 face value, and has set a record date of 13 October 2026 to determine which shareholders are eligible to receive rights entitlements. The issue carries in-principle approval from both BSE and NSE, and the board also approved the Letter of Offer to be filed with SEBI and the exchanges.
How pricing and payment work
Because the shares are partly paid-up, shareholders pay in two instalments: 60% on application and the remaining 40% as a first and final call, which the filing says is expected to be completed on or prior to 31 October 2027. The board noted it retains the right to change the timing of that call for business or commercial reasons. Entitlements are offered to holders on the record date in the stated ratio.
Timeline and dilution
The issue opens on 22 October 2026 and closes on 30 October 2026, with on-market renunciation of rights entitlements ending 26 October 2026; the board may extend the window by up to 30 days from the opening date. Assuming full subscription and payment of all call monies, the outstanding equity share count would rise — a dilution that holders who do not subscribe would experience relative to those who do.