Ola Electric Mobility Limited , a prominent player in the electric vehicle industry, has announced significant changes in its corporate structure and financial planning. The company's Board of Directors has made key decisions that could impact its future operations and governance.

IPO Proceeds Utilization Changes

The Board of Directors of Ola Electric has approved a proposed variation in the utilization of Initial Public Offering (IPO) proceeds. This decision also includes an extension of the time limit for the utilization of these funds. While the specifics of these changes have not been disclosed, the company stated that these modifications are subject to shareholder approval.

New Secretarial Auditors Appointed

In a move to strengthen its corporate governance, Ola Electric's board has approved the appointment of M/s. BMP & Co. LLP as the company's Secretarial Auditors. The appointment is for a period of five consecutive years, starting from April 1, 2025, to March 31, 2030. This decision is also pending shareholder approval at the upcoming 8th Annual General Meeting (AGM).

About BMP & Co. LLP

BMP & Co. LLP, the newly appointed Secretarial Auditors, is a well-established firm of practicing company secretaries. Founded in 2017, the firm has offices in Bengaluru, Mumbai, and Delhi (NCR). They specialize in a wide range of services including:

• Corporate Secretarial Services
• Secretarial Audit
• SEBI compliances
• Initial Public Offerings (IPO) related work
• Foreign Direct Investment and Overseas Direct Investment under FEMA
• Mergers & Amalgamations
• Business Setup
• Fund Raise compliance

The firm has undergone peer review and provides services to diverse sectors, including listed corporates, multinational companies, startups, venture capital firms, and law firms.

Board Meeting Details

The crucial board meeting where these decisions were made was held on July 25, 2025. The meeting commenced at 08:15 PM (IST) and concluded at 08:45 PM (IST). Ola Electric has stated that a detailed notice for shareholder approval will be issued in due course.

These developments indicate Ola Electric's commitment to maintaining transparency and adhering to regulatory requirements. The company's decision to revise its IPO proceeds utilization strategy could potentially signal shifts in its business focus or investment priorities. Shareholders and market observers will be keenly awaiting further details on these changes and their potential impact on the company's future trajectory in the competitive electric vehicle market.

Ola Electric Mobility shares experienced a significant upturn on Wednesday, breaking a six-day losing streak with a surge of over 7%. The electric vehicle manufacturer's stock opened at ₹40.40 and reached an intraday high of ₹43.15, showcasing renewed investor interest.

Block Deal and Trading Activity

During the trading session, a notable block deal took place involving 15 lakh shares of Ola Electric, valued at approximately ₹7 crore. This transaction likely contributed to the increased trading volume and price movement observed during the day.

Future Projections and Financial Outlook

Ola Electric has provided insights into its future financial expectations:

These projections indicate a cautious outlook, with the company anticipating a range from slight contraction to modest growth in revenue compared to the previous fiscal year.

Recent Financial Performance

The company's financial results for the June quarter revealed some challenges:

Despite the year-over-year decline, Ola Electric reported sequential improvements compared to the March quarter:

• Narrower losses (₹428.00 crore vs ₹870.00 crore in March quarter)
• Revenue growth (₹828.00 crore vs ₹611.00 crore in March quarter)

Segment Performance

In a positive development, Ola Electric announced that its auto segment achieved EBITDA positivity in June, indicating improved operational efficiency in this particular division.

The recent stock performance and block deal, juxtaposed with the company's mixed financial results and cautious future projections, reflect the complex dynamics at play in the electric vehicle market. As Ola Electric continues to navigate the challenges and opportunities in this rapidly evolving sector, investors and industry observers will be closely monitoring its progress towards sustainable growth and profitability.