Ola Electric Mobility Limited — Others, 15-05-2025: Monitoring Agency Report

Ola Electric Mobility Limited has announced a monitoring agency report confirming full utilization of its ₹5500 Cr IPO proceeds as planned. Major uses include ₹1227.6 Cr for expanding cell manufacturing capacity, ₹800 Cr for subsidiary debt repayment, ₹1600 Cr on R&D, ₹350 Cr for organic growth, and ₹1297.4 Cr for corporate purposes. Unutilized funds of ₹2884.85 Cr are parked in fixed deposits across banks generating steady returns. The progress on projects and repayments remains on track, reinforcing the company’s growth and financial stability.