Ola Electric Shares Fall 3.28% After ₹1,500 Crore Fundraising Plan Approval

Bengaluru, October 27: Ola Electric Mobility Limited’s share price is trading in the red today, after the company announced that it has approved a ₹1,500 crore fundraising plan. As of 10:45 AM, the shares were down by 3.28% or 1.73 points, and were trading at ₹51.09. Until now, the shares have traded within a range of ₹52.82 and ₹50.55. The traded volume stood at 96.84 lakh shares, with the company’s market cap at ₹23,298 crore. The shares have their 52-week high at ₹102.50 and their 52-week low at ₹39.60.

Company Approves ₹1,500 Crore Fundraising Plan

The fall in the share price comes after the company announced that it has approved a ₹1,500 crore fundraising plan. Under the fundraising plan, the company will raise up to 1,500 crore through multiple equity and convertible routes. The company will use various options such as warrants, ADRs, or GDRs, through further public offer, rights issue, QIP, or private placement to raise the approved capital.

Financials Crumble

Ola Electric’s earnings per share (EPS) over the last twelve months (TTM) remain negative at -₹0.10 (standalone) and -₹5.34 (consolidated), reflecting ongoing losses driven by continued investments in expansion. The company’s Cash EPS (CEPS) and price-to-earnings (P/E) ratio are also negative, underscoring its current unprofitable phase. Additionally, the return on equity (ROE) stands at -0.41%, indicating a negative return on shareholder capital. The face value of each share is ₹10.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/60b6e15e-6462-4029-818c-5114d6aaa278.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations