Ola Electric Mobility will consider a proposal to raise funds through a rights issue of equity shares at a meeting of its Board of Directors on September 28 2026, the electric scooter manufacturer said in an exchange filing.

The proposed rights issue would allow eligible shareholders, including retail investors, institutional investors and members of the promoter group, to participate in the capital raise, subject to applicable laws and regulatory approvals.

Ola Electric had earlier received approval to raise up to Rs 1500 crore. The company subsequently raised Rs 780 crore through a qualified institutional placement in June 2026. With the company now considering the rights issue route, the proposed fundraising remains subject to approval from the board and the necessary statutory and regulatory clearances.

The proposed capital raise is expected to strengthen Ola Electrics balance sheet and provide additional funding for its operations and growth plans. A banking source tracking the development said the fundraising could potentially put the company on a path toward cash breakeven without requiring another funding round in the near term.

The promoter group, led by Chairman and Managing Director Bhavish Aggarwal, holds around 32.97 percent of Ola Electric and is also expected to participate in the proposed rights issue, according to the source cited in the report.

The board meeting on September 28 will determine the next steps for the proposed issue, including its structure and other terms, subject to applicable approvals.