Ola Electric Redirects IPO Funds for Strategic Growth

Ola Electric secured shareholder approval to reallocate IPO funds, marking a strategic move to spur growth and solidify its financial position. The Bengaluru firm, after its first AGM post-IPO, aims to utilize funds for R&D, organic growth, debt repayment, and corporate purposes, indicating strong investor confidence.

Devdiscourse News Desk | New Delhi | Updated: 22-08-2025 16:01 IST | Created: 22-08-2025 16:01 IST

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Ola Electric has announced that it has successfully gained shareholder approval to reallocate funds raised through its IPO. This strategic move is set to unlock capital necessary for the company's next growth phase, further bolstering its financial standing.

The Bengaluru-based firm, which held its first Annual General Meeting since its public debut in 2024, confirmed that a significant 99 per cent of shareholders supported the resolution, reflecting robust investor confidence in Ola Electric's long-term plans.

Post reallocation, funds will be directed towards specific initiatives: Rs 1,049 crore for R&D, Rs 901 crore for organic growth, Rs 395 crore for debt repayment, and Rs 248 crore for general corporate purposes. Additional resolutions were also approved at the AGM.

(With inputs from agencies.)