Ola Electric Mobility , through its wholly owned subsidiary Ola Electric Technologies Private Limited, has completed the second tranche of its private placement by allotting preference shares worth ₹250 crore. This development is part of the company's ongoing efforts to strengthen its financial position and support its growth initiatives.

Key Details of the Allotment

The allotment was approved at a board meeting held on October 29, 2025.

Background and Context

This allotment represents the second tranche of funding through private placement for Ola Electric Technologies. The move follows the approval granted by shareholders of Ola Electric Mobility at their Annual General Meeting on August 22, 2025, for the variation of IPO proceeds utilization.

Terms of the Preference Shares

The allotted preference shares carry a 0.001% non-cumulative, non-participating rate, providing the company with flexible capital while offering potential upside to the investor through the convertible feature.

Future Outlook

Ola Electric has indicated that details for further tranches will be communicated as funds are infused and allotments are made. This suggests that the company may have plans for additional capital raising in the future to support its operations and growth strategies.

Regulatory Compliance

The company has informed the stock exchanges about this development, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency ensures that investors and stakeholders are kept informed about significant financial activities within the Ola Electric group.

As the electric vehicle market in India continues to evolve, Ola Electric's strategic financial moves, including this preference share allotment, could play a crucial role in shaping its competitive position and future growth trajectory.

Ola Electric Mobility has received a report from the Central Consumer Protection Authority (CCPA) investigation, adding another layer of complexity to the company's ongoing legal challenges. This development comes as the Karnataka High Court directs police to proceed with their investigation into allegations surrounding the suicide of a former Ola Electric Mobility employee, while cautioning against harassment of the petitioners.

Key Details of the Case

• The case involves K Aravind, a 38-year-old homologation engineer who allegedly consumed poison on September 28.
• Aravind's family filed a complaint claiming workplace harassment and withheld salary by company officials, including CEO Bhavish Aggarwal and Subrat Kumar Dash, head of homologation engineering.
• A 28-page handwritten note recovered from Aravind's room reportedly blamed superiors for mental harassment and non-payment of dues.
• Rs 17.46 lakh was transferred to Aravind's account two days after his death, which the family described as suspicious.

Legal Proceedings

• An advocate representing the complainant described Ola Electric as 'worse than the East India Company' while opposing CEO Bhavish Aggarwal's plea to quash the abetment to suicide case.
• Aggarwal's legal team argued for the case to be quashed, stating it was initially registered as an Unnatural Death Report.
• Ola Electric claimed that Aravind had not raised any complaints during his tenure and his role did not involve direct interaction with top management.

Court's Stance

The Karnataka High Court has taken a balanced approach:

• Allowed the police investigation to continue
• Cautioned against harassment of the petitioners
• Scheduled the next hearing for November 17

This case highlights the complex interplay between corporate responsibilities, employee welfare, and legal processes in India's rapidly growing electric vehicle sector.

Ola Electric's Recent Corporate Actions

While the court case unfolds, Ola Electric is also focusing on its business growth. According to recent corporate filings:

• The company is preparing for a potential capital raise of up to Rs 1500.00 crores through various means, including public offerings, rights issues, or qualified institutional placements (QIPs).
• This move aims to strengthen Ola Electric's balance sheet, accelerate growth, and position the company for long-term market leadership.
• The funds are intended for various purposes, including:
  • Ramping up the cell business
  • Expanding into battery energy storage systems
  • Deepening sales and strengthening post-sales production
  • Investing in new product development
  • Potential organic and inorganic growth initiatives

As the legal proceedings continue and the company pursues its growth strategies, stakeholders will be closely watching how Ola Electric navigates these complex business and legal landscapes. The addition of the CCPA investigation report further underscores the scrutiny the company is facing from various regulatory bodies.