Ola Electric Rights Issue Record Date Today (Oct 13, 2026): What Shareholders Need to Know

Today is the Ola Electric rights issue record date — Tuesday, October 13, 2026. Ola Electric Mobility’s board locked this date on October 7 so it can decide who gets rights entitlements (REs) in the Rs 999.74 crore partly paid-up rights issue, per the company’s exchange filing on the board meeting outcome. Eligible holders can pick up 2 new shares for every 25 fully paid-up shares they held on the record date, at Rs 27 apiece. Zee Business flagged the record date on its October 13 stocks-to-watch list. Below we walk through the ratio, the price, the two-part payment, the key dates, how REs trade and how to apply. For the wider Sensex and Nifty picture today, see our stock market today India hub.

What Ola Electric is putting on the table: size, price and ratio

The board first cleared a rights issue of partly paid-up equity shares “for an amount not exceeding Rs 1,000 crores” on September 28, 2026. BSE and NSE gave in-principle approval on October 6, and the board fixed the final terms on October 7. The Letter of Offer dated October 7, 2026 lays them out:

• Instrument: partly paid-up equity shares, face value Rs 10 each.
• Number of rights shares: up to 37,02,72,665.
• Issue price: Rs 27 per rights share — Rs 10 face value plus a Rs 17 premium.
• Issue size: up to Rs 9,99,73,61,955, roughly Rs 999.74 crore, assuming full subscription and that all call money comes in.
• Entitlement ratio: 2 rights equity shares for every 25 fully paid-up equity shares held on the record date.
• Shares outstanding: 4,62,84,08,313 before the issue and 4,99,86,80,978 after it, if the issue is fully subscribed and call money is paid.
• ISIN for rights entitlements: INE0LXG20016. Fully paid shares already trade under INE0LXG01040.

Business media carried the same numbers once the filing was out. Livemint reported 37,02,72,665 rights shares, the Rs 27 price with a Rs 17 premium and the 2-for-25 ratio. Business Standard quoted the filing’s wording on the issue size and the October 13 record date. Running the filing’s maths ourselves, the new shares equal 8% of the shares outstanding before the issue and about 7.41% of the enlarged share count after it.

Ola Electric rights issue record date: why October 13 matters

Eligibility turns on the record date. The Letter of Offer defines it as the date for “determining the Equity Shareholders who would be eligible to apply for the Rights Equity Shares,” and names October 13, 2026. If Ola Electric showed up in your demat at the end of that day, you get rights entitlements in line with that holding.

Indian equities settle on a T+1 basis, so Monday, October 12 was the last day to buy shares that would still count. The Economic Times said investors had to buy at least one trading day before the record date for the shares to land in their demat on time. Livemint also named October 12 as the last purchase date. Shares bought today, October 13, settle after the record date and don’t carry this entitlement.

You can see that in today’s tape. The Upstox quote page had Ola Electric opening at Rs 34.40 on October 13, against a previous close of Rs 35.68. At 09:53 IST the stock was at Rs 34.59, down 3.05% from that close, after trading between Rs 33.86 and Rs 34.73. The record date isn’t the whole story — broader market moves and stock-specific selling matter too — but holders should still expect some price adjustment around a rights record date, because new buyers no longer get the entitlement.

The record date is about eligibility only. It decides who receives the rights entitlements, but no money is paid and no new shares are issued until the October 22–30 application window.

How many rights shares you get

At 2 for every 25, you get 8 rights shares for every 100 shares. A few examples from the filing’s ratio:

• 25 shares held on October 13: 2 rights shares.
• 100 shares held: 8 rights shares.
• 1,000 shares held: 80 rights shares.

If a holding doesn’t divide evenly, the Letter of Offer says the fractional part “shall be ignored in the computation of the Rights Entitlement”. Shareholders whose fractions are ignored get preference for one extra share if they also apply for additional rights shares, provided unsubscribed shares are left after the main entitlements are allotted. Holders whose stake gives them a zero entitlement can still apply for additional shares, but they can’t renounce that application. The registrar, MUFG Intime India Private Limited (formerly Link Intime India), will put each shareholder’s entitlement on its website. Look it up with your DP ID and Client ID (or folio number) and PAN.

Payment: Rs 16.20 on application, Rs 10.80 on the call

These are partly paid shares, so you don’t put up the full Rs 27 when you apply. The filing’s payment schedule is:

• On application: Rs 16.20 per share (Rs 6.00 towards face value and Rs 10.20 towards premium). The filing pegs this at 60% of the issue price.
• First and final call: Rs 10.80 per share (Rs 4.00 face value and Rs 6.80 premium), or 40% of the issue price. The call is “expected to be completed on or prior to October 31, 2027”. The board can shift that timing — earlier or later — for business or commercial reasons.

Take a holder with 1,000 shares: entitlement is 80 rights shares. Applying for all of them means about Rs 1,296 blocked at application (80 × Rs 16.20), then another Rs 864 when the call is made (80 × Rs 10.80). Across the full issue, the Letter of Offer says the company “shall raise 60% of the Gross Proceeds on Application”. That works out to about Rs 599.84 crore upfront if the issue is fully subscribed, with roughly Rs 399.89 crore expected from the later call.

The issue price sits below the market. Business Standard put the Rs 27 price at a discount of about 26% to Ola Electric’s October 7 closing price. Upstox data shows that close as Rs 36.32, which is a 25.66% discount by our maths. Against the October 12 close of Rs 35.68, the discount is 24.33%. ET, for context, described the price as about 23% below an earlier close of Rs 35.13 — the October 9 close Livemint reported. Which day’s price you pick changes the headline discount.

Key dates from entitlement credit to listing

The Letter of Offer’s issue schedule — same as the October 7 board-outcome filing — lists these dates:

• Record date: Tuesday, October 13, 2026.
• Last date for credit of rights entitlements: Wednesday, October 14, 2026.
• Issue opens: Thursday, October 22, 2026.
• Last date for on-market renunciation (RE trading): Monday, October 26, 2026.
• Issue closes: Friday, October 30, 2026. The board or the Rights Issue Committee can extend this, but the issue period can’t run past 30 days from opening.
• Basis of allotment and allotment (on or about): Monday, November 2, 2026.
• Credit of rights shares (on or about): Tuesday, November 3, 2026.
• Listing (on or about): Wednesday, November 4, 2026.

ET carried the same opening, closing, renunciation and allotment dates. If issue calendars are new to you, our IPO investing in India guide covers how subscription windows, allotment and listing usually work. A lot of the same mechanics apply to rights issues.

Trading rights entitlements and how to renounce them

Rights entitlements land in your demat as a separate security. Under the Letter of Offer you have three choices: apply for the shares, sell or transfer the entitlement (renounce it), or sit tight and let it lapse.

On-market renunciation. You can sell REs on the BSE and NSE platforms through your broker by quoting ISIN INE0LXG20016. Trading runs from October 22 to October 26, 2026, both days included. The market lot is one RE. Trades settle on a T+2 trade-for-trade basis. The company says it can’t guarantee active trading or any particular RE price.

Off-market renunciation. You can also move REs through your depository participant. The filing asks shareholders to finish this early enough that the REs reach the buyer’s demat on or before the October 30 closing date. Arrive late and the buyer may not be able to apply.

Lapse. REs that aren’t used or renounced by the closing date “shall lapse and shall be extinguished”. The Letter of Offer adds that no rights shares will be credited for lapsed REs, even if someone bought them on the market. That buyer loses whatever they paid for the REs.

A rights entitlement does nothing until it is used. If you buy REs on the market and don’t apply by the closing date, you lose what you paid for them.

How eligible shareholders can apply

The Letter of Offer says applications can be made “only through ASBA or any other mode which may be notified by SEBI.” In practice that means:

1. Confirm the REs have been credited to your demat account. Last date for credit is October 14.
2. Between October 22 and 30, apply through the ASBA facility of a self-certified syndicate bank (SCSB), using the application form or a plain-paper application as the Letter of Offer describes. Keep demat details and RE balance handy.
3. Decide how many shares to apply for — your full entitlement, part of it, or entitlement plus additional shares. Extra shares are allotted only if something remains unsubscribed, on the priority set out in the filing.
4. Leave enough balance in your bank account for Rs 16.20 per share to be blocked. The money actually moves only after the basis of allotment is finalised.
5. Once allotted, the partly paid shares should credit around November 3, with listing around November 4. Keep cash ready for the Rs 10.80 per share call.

Physical-share holders must give their demat account details to the company or the registrar no later than three clear working days before the issue closes. Miss that window and you won’t be allotted any rights shares. The registrar’s grievance email in the Letter of Offer is olaelectric.rights@in.mpms.mufg.com.

Where the money is headed

Ola Electric puts net proceeds at Rs 983.99 crore — the Rs 999.74 crore gross amount minus Rs 15.75 crore of issue expenses — assuming full subscription and receipt of all call money. The Letter of Offer splits the net proceeds like this:

• Rs 350 crore to repay or prepay certain borrowings of the company and its material subsidiaries, including accrued interest and prepayment penalties.
• Rs 400 crore for “organic growth initiatives”.
• Rs 233.99 crore for general corporate purposes, capped at 25% of gross proceeds.

Spend is planned across fiscal 2027 and fiscal 2028. The company notes these fund requirements “have not been appraised by any bank or financial institution”.

The filing also walks through earlier fundraising. Ola Electric raised Rs 5,500 crore through a fresh issue in its IPO on August 9, 2024, and Rs 780.24 crore through a qualified institutions placement (QIP) on June 1, 2026. As of September 20, 2026, Rs 139.21 crore of the IPO money and Rs 190.77 crore of the QIP money earmarked for objects similar to this issue had not yet been used. The company says the new issue covers “current and incremental funding requirements” and doesn’t duplicate those earlier raises.

Promoter participation and the minimum subscription question

Promoter Bhavish Aggarwal has confirmed he will take up his full entitlement and won’t renounce it, except within the promoter group or to specific investors under SEBI’s ICDR rules. He may also apply for additional or unsubscribed shares, within minimum public shareholding limits. Because the funds aren’t going into project capital expenditure and the promoter group has committed to its entitlement, the Letter of Offer says the usual 90% minimum subscription requirement doesn’t apply.

The company also spells out how the promoter is funding his shares. Promoter-group company Krutrim Data Centre Private Limited has raised money through non-convertible debentures to pay for Aggarwal’s subscription. As security, Aggarwal has pledged Ola Electric shares equal to 4.32% of the company’s equity share capital. The filing warns that if the lender invokes this pledge after a default, the promoter’s stake could fall and the share price could take a hit.

What this means if you already hold the stock

The issue arrives while Ola Electric is still posting losses. The financial extract in the Letter of Offer shows total income of Rs 484 crore for the three months to June 30, 2026, against Rs 896 crore a year earlier, and a loss of Rs 336 crore against Rs 428 crore. For fiscal 2026, the company reported a loss of Rs 1,833 crore. Net worth stood at Rs 3,769 crore at June 30, 2026. Business Standard noted the stock fell as much as 9.96% intraday on October 8, to Rs 32.70, after the price was announced.

Existing holders essentially face three choices:

• Subscribe in full: keeps your percentage stake roughly steady. You pay Rs 16.20 per share now and Rs 10.80 later, at a price below recent market levels.
• Sell the REs: brings in some cash, but your share of the company shrinks. As noted above, the new shares are about 7.41% of the post-issue share count.
• Do nothing: you get diluted and get no compensation, because unused REs expire.

One way to size the discount is the theoretical ex-rights price — a simple weighted average of 25 old shares and 2 new shares. Using the October 12 close of Rs 35.68 and the Rs 27 issue price, that comes to about Rs 35.04 by our calculation. Treat it as a reference only. Actual prices will follow demand, broader market moves and how the market prices a partly paid share.

Risks worth weighing before you apply

• Partly paid structure: rights shares will list under a separate ISIN. Dividends and voting rights are proportional to the amount paid up. Miss the call money and you may owe interest, or the company may forfeit both the application money and the shares.
• Liquidity: the Letter of Offer notes limited history of trading partly paid shares in India. The rights shares may trade thinly and may sit outside indices. Trading may also be suspended before the call record date.
• Future capital raising: while partly paid shares are outstanding, the company can’t make another rights issue, a further public offer or a bonus issue.
• Price risk: if the market price slips below the Rs 27 issue price before allotment, subscribers would face an immediate paper loss.
• Use of funds and pledge: management has wide discretion over how proceeds are used, the plan hasn’t been appraised by a bank, and the promoter has pledged shares to fund his subscription.
• Business losses: the company is still loss-making, so the raise supports the balance sheet but doesn’t make the business profitable.

Before you apply, check your entitlement on the registrar’s site and read the risk factors in the Letter of Offer. Make sure you can fund both the Rs 16.20 application amount and the later Rs 10.80 call. This piece explains the terms; it isn’t a recommendation to subscribe, renounce or trade Ola Electric shares.