From The Economic Times · Kumar Gaurav · · 1m 10s
SoftBank Sells Ola Electric Rights Entitlements
SoftBank sells 1.21 crore Ola Electric rights entitlements to raise Rs 1,000 crore.
In brief
SoftBank sells 1.21 crore Ola Electric rights entitlements to raise Rs 1,000 crore. SoftBank sold 1.21 crore rights entitlements in Ola Electric to raise Rs 1,000 crore through a rights issue. Originally reported by The Economic Times.
SoftBank Sells Ola Electric Rights
SoftBank sold 1.21 crore rights entitlements in Ola Electric Mobility over two trading sessions.
Rights Issue Details
The rights issue aims to raise Rs 1,000 crore with a 26% discount to market price.
Shareholding Data
SVF II Ostrich held 54.15 crore shares, representing 11.70% stake in Ola Electric.
Rights Entitlements Sold
The entity sold 27.9% of its estimated entitlement of 4.33 crore rights shares.
Motilal Oswal Application
Motilal Oswal applied for 1.28 crore shares, while Calliope Capital Advisors applied for 1.10 crore shares.
QIP and Revenue Decline
Ola Electric reported Q1 revenue of Rs 455 crore, down from Rs 828 crore a year earlier.
Market Share Pressure
Ola Electric's market share dropped from 7.6% in August to 6.5% in September.
Share Price Decline
Ola Electric shares fell 21.06% in 2026, trading at Rs 29.62 on October 26.
The key point
SoftBank sold 1.21 crore rights entitlements in Ola Electric to raise Rs 1,000 crore through a rights issue.
