India, Oct. 1 -- Update | October 1, 14:45

Over a month after it got the nod of its shareholders for alteration in the use of IPO proceeds, Ola Electric has now realigned its investments in material subsidiaries. This will see the company's battery subsidiary Ola Cell Technologies Pvt Ltd invest INR 877.6 Cr in its other material subsidiary Ola Electric Technologies Pvt Ltd.

Ola Cell Technologies' board today approved the investment by way of subscription of 87.76 Lakh non-cumulative and non-participating 0.001% Series A optionally convertible redeemable preference shares of Ola Electric Technologies.

Ola Electric Technologies manufactures and supplies Ola Electric EVs. Its turnover for FY25 stood at INR 4,510 Cr, down 10% from INR 5,0...