Updated on: Aug 22, 2025 05:41 pm IST
99% Ola Electric shareholders approved a resolution to reallocate IPO proceeds, at the company’s first annual general meeting since listing.
Ola Electric Mobility Ltd. has secured shareholder approval for reallocation of IPO proceeds to unlock capital and drive growth in India’s highly competitive electric two-wheeler market.
According to an exchange filing, 99 per cent of the shareholders voted in favour of the resolution at the company’s first annual general meeting since listing last year. That, according to Ola Electric, signals “investor trust in the company” and its “long-term vision”.
The unlocked capital will be used for organic growth, general corporate purposes, and debt repayment. The reallocation is as follows:
- R&D investments: ₹1,049 crore
- Organic growth: ₹901 crore
- Debt payments: ₹395 crore
- General corporate purposes: ₹248 crore
On Friday, Ola Electric shares fell 3.38% to ₹47.18 apiece on the BSE even as the equity benchmark Sensex ended the day 0.85% lower at 81,306.85 points.
