Ola Electric Mobility Limited — Others, 31-07-2025: Shareholders meeting

Ola Electric has announced its 8th Annual General Meeting. A key agenda item for shareholders is the proposed reallocation of INR 1,322.64 crore from unutilised IPO proceeds. Funds previously earmarked for cell manufacturing capacity expansion (INR 1,227.64 crore) and a portion of research and development (INR 95 crore) are being redirected. These amounts will now support organic growth initiatives in the cell and auto businesses, facilitate debt repayment of INR 395 crore, and boost general corporate purposes. This strategic shift aims to optimize capital, strengthen the balance sheet, and drive growth in response to evolving market dynamics. The company seeks over 90% shareholder approval for this critical variation.