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Ola Electric Injects ₹587.85 Crore into Subsidiaries for Strategic Initiatives | Bullu
OLAELEC
Ola Electric Injects ₹587.85 Crore into Subsidiaries for Strategic Initiatives
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09:11 20 Apr 25
strategic partnerships
capex
regulatory filings
Ola Electric's board approved investments in wholly-owned subsidiaries on March 30, 2025.
Ola Cell Technologies (OCT):
₹199 crore fund infusion for business needs.
₹61.20 crore conversion of payables to shares.
Business: Battery/cell manufacturing.
FY24 Turnover: ₹3.97 crore.
Completion target: April 30, 2025.
Ola Electric Technologies (OET):
₹250 crore conversion of payables to shares.
₹70.55 crore conversion of loan & interest to shares.
Business: EV services & manufacturing.
FY24 Turnover: ₹5,149.02 crore.
Completion target: April 30, 2025.
Ola Electric Charging (OEC):
₹3.50 crore fund infusion for business needs.
₹2.60 crore conversion of payables to shares.
Business: EV charging stations.
FY24 Turnover: ₹0.39 crore.
Completion target: Fund infusion by Sep 30, 2025; Payables conversion by April 30, 2025.
All transactions are related party but conducted at arm's length.
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