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

Ola Electric will hold its 8th Annual General Meeting on August 22, 2025. A significant agenda item involves reallocating INR 1,322.64 Cr of unutilized IPO funds. Money previously earmarked for expanding cell manufacturing beyond 5GWh and some R&D will now be redirected. Key changes include allocating approximately INR 850.64 Cr to organic growth initiatives like expanding stores, service centers, auto capital expenditure, and accelerating cell production to 5GWh, with the utilization timeline extended to FY 2027. Additionally, around INR 395 Cr is designated for repaying company and subsidiary debt, aiming to strengthen the balance sheet. This strategic shift targets optimized capital use and shareholder value, requiring over 90% shareholder affirmation.