Ola Electric Mobility share price came under pressure on Friday, 25 September, falling as much as 9% and snapping a four-session gaining streak.
The sell-off followed the company’s announcement that its board will meet on 28 September to consider raising fresh capital through a rights issue of equity shares. The proposal will be subject to the necessary regulatory and statutory approvals.
Ola Electric disclosed the proposed fundraising in an exchange filing under Regulation 29(1)(d) of the SEBI Listing Regulations. The announcement comes only a few months after the electric two-wheeler manufacturer raised ₹780 crore through a qualified institutional placement (QIP) in June. The QIP was subscribed 56% above the shares on offer.
The June fundraise attracted several institutional investors, including global names such as Goldman Sachs and BNP Climate Fund, as well as Indian mutual funds such as Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund, and Baroda BNP Paribas Mutual Fund. Ola Electric’s Fundraising Committee later approved the closure of the issue after receiving applications and funds from eligible investors.
Meanwhile, the company has reported a sharp improvement in vehicle registrations. VAHAN registrations almost doubled sequentially to 43,719 units in the first quarter of FY27, compared with 22,252 units in the March quarter, according to an exchange filing dated 1 July.
June emerged as the strongest month in recent quarters, with 16,144 registrations. Ola Electric attributed the improvement to stronger retail execution, rising customer demand and better product availability.
The company said initiatives implemented over the past few quarters, together with its product portfolio, have helped maintain momentum in India’s electric two-wheeler market.
Ola Electric Mobility share price today
Ola Electric Mobility share price today opened at ₹42.50 apiece on the BSE, the stock touched an intraday low of ₹38.70, and an intraday high of ₹42.52 per share.
Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said Ola Electric shares remain range-bound, with the upside capped around the ₹46–47 zone and the downside protected near ₹35–36.
Rathi noted that the formation of a bullish 100% pole on the higher-timeframe Point & Figure (P&F) chart from the ₹20–21 levels indicates strong demand at lower levels.
Going forward, he said a decisive break below ₹35 could open the way towards the ₹22–20 zone. On the upside, a breakout above ₹44 could trigger fresh upward momentum in the stock.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
