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Ola Electric Mobility Board Approves Fundraise Up to ₹1,500 Crore

Ola Electric Mobility logoOla Electric Mobility
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Ola Electric Mobility’s board approved a fundraise of up to ₹1,500 crore, after a prior ₹780 crore QIP three months earlier. The plan follows COO Hyun Shik Park’s resignation effective September 5 for personal reasons. The company reported steep losses and falling revenue, while it seeks funding for EV manufacturing and battery-cell production and a shift to a dealer-led network.

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