Ola Electric Mobility has decided to raise Rs 1,700 crore by borrowing money through debt instruments. This decision was made during a board meeting held earlier today.
According to official documents, Ola Electric will raise the money through term loans, working capital loans, or selling Non-Convertible Debentures (NCDs) and other approved debt options.
The money could be raised in parts and done privately or in other legal ways.
This borrowing is within the limits that the company’s owners have allowed. The money will help the company grow and run its business.
The company said its trading window has been closed since April 1, 2025. It will open again 48 hours after the company shares its financial results.
The company is receiving more attention from regulators and is experiencing financial difficulties.
SEBI warned Ola Electric of breaking the rules in January by sharing news about its retail expansion on social media before telling the stock exchanges. In February, there was a difference between the company’s reported 25,000 vehicle sales and the 8,600 registrations recorded in the VAHAN system, which Ola said happened because of delays from their suppliers.
Despite these issues, Bhavish Aggarwal’s company became the second biggest seller of electric two-wheelers in April. TVS Motor was the top seller in the market.
Ola Electric hasn’t shared its Q4 results yet, but it said its operating revenue dropped by 19.4% compared to last year, falling from Rs 1,296 crore to Rs 1,045 crore. At the same time, its net loss increased by 50% to Rs 564 crore.
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