BHAVISH AGGARWAL
Ola Electric Q2 revenue slumps 39% to Rs 421 crore, losses narrow
The company said it has stopped orders from its direct-to-consumer stores on November 1, and plans to close them by December. The company, which had announced a pivot to a dealership model in August, now has 255 dealer partners operating over 300 stores, it said in the shareholder letter.
Ola Electric’s Rs 1,000-crore rights issue fully subscribed ahead of closing date
The rights issue, which opened on Thursday, will close on October 30. Shareholders could sell or transfer their rights entitlement in the market until October 26. The company finalised the terms of the issue earlier this month, setting the price at Rs 27 per share, a 26% discount to its market value.
Cognizant eyes Sarvam stake; Ather aims for higher market share
Happy Wednesday! Cognizant has held discussions to invest in homegrown AI startup Sarvam. This and more in today’s ETtech Morning Dispatch.
SoftBank sells 1.21 crore Ola Electric rights entitlements as EV maker seeks to raise Rs 1,000 crore
SoftBank sold nearly 28% of its Ola Electric rights entitlements over two sessions as the company launched a Rs 1,000-crore rights issue. Meanwhile, Motilal Oswal entities applied for 2.39 crore shares amid declining revenue and persistent losses.
Ola Electric shares dip 5% after Goldman Sachs downgrades stock to Sell. Here’s why
Ola Electric shares fell sharply on Friday after Goldman Sachs downgraded the stock to Sell from Neutral and cut its target price to Rs 23, implying a 28% downside. The brokerage lowered its FY27-FY29 revenue estimates by up to 10%, citing prolonged operating losses and challenges in sustaining market share.
Swiggy’s Q2 report card; eMudhra to exit certificate biz
Swiggy continued on its growth trajectory while bringing down losses in Q2FY27. This and more in today’s ETtech Top 5.
Motilal Oswal entities apply for 2.39 crore Ola Electric shares in Rs 1,000-crore rights issue
Motilal Oswal Financial Services and Calliope Capital Advisors have put in their bids for shares in Ola Electric Mobility's latest rights issue, which is set to raise Rs 1,000 crore by offering partly paid-up shares at Rs 27 each. The rights issue commenced on Thursday and will conclude on October 30, with crucial payment details outlined.
OIa Electric rights issue: Last day to buy EV scooter maker’s shares to be eligible for Rs 1,000 crore rights issue
The Bhavish Aggarwal-led company last week fixed the issue price for its rights issue at Rs 27 per equity share, around 23% lower than the stock’s previous closing price of Rs 35.13 apiece on NSE, with the amount payable in two calls.
Startup of the Year Groww bets on scale; Qcomm sparks festive credit surge
Happy Thursday! Groww is betting its newer businesses will take a bigger slice of its income. This and more in today’s ETtech Morning Dispatch.
Two-wheeler maker Ola Electric fixes Rs 1,000 crore rights issue at Rs 27 per share
The company’s board approved the terms on Wednesday, a week after it had announced plans to raise up to Rs 1,000 crore through a rights issue without finalising the price and other key terms.
Ola Electric board approves rights issue at 26% discount; shareholders to pay in two calls
Ola Electric has announced a rights issue price of Rs 27 per share, significantly below its market value, aiming to garner up to Rs 1,000 crore. Investors will pay 60% of this amount upfront, with the remainder due later. Chairman Bhavish Aggarwal intends to fully subscribe to his portion, using a pledged stake. This funding could ease debt burdens and assist the company in achieving cash breakeven.
Ola Electric defers board meeting on Rs 1,000 crore rights issue
The company had said in a separate filing on Sunday that CEO Bhavish Aggarwal pledged a 4.32% stake in the company to participate in the rights issue.
Menlo Ventures on AI slowdown; Ola Electric CEO pledges stake
Happy Monday! Menlo Ventures, an early Anthropic backer, says the real AI constraint is compute, not a slowdown in frontier models. This and more in today's ETtech Morning Dispatch.
Ola Electric promoter Bhavish Aggarwal pledges 4.32% stake to fund rights issue
Last week, Ola Electric’s board approved a rights issue of partly paid-up equity shares to raise up to Rs 1,000 crore. The board is yet to finalise key terms of the issue, including the total number of shares, issue price, timing and payment terms.
Investors’ bets on Ola shrink as EV, ride-hailing businesses lose ground
As competition intensifies, SoftBank Group and fellow investors in Ola are grappling with a substantial reduction in their holdings' valuations. Ola Cabs is increasingly losing ground to competitors like Rapido and Uber, alongside a notable decline in Ola Electric's electric two-wheeler market share. While the company confronts financial hurdles and operational setbacks, a number of investors successfully realized returns through strategic share sales prior to value drops.
Piyush Goyal to headline ET Startup Awards; The Souled Store eyes fundraise
Happy Tuesday! Meet our distinguished guest of honour for The Economic Times Startup Awards 2026. This and more in today’s ETtech Morning Dispatch.
Ola Electric shares tumble 9% after 17% rally in 4 days. Why brokerages remain cautious
Ola Electric shares fell sharply on Friday, snapping a four-day winning streak as investors assessed the EV maker’s proposed rights issue and ongoing funding needs. Despite a recent recovery, the stock remains well below its peak. Brokerages including Citi and Kotak continue to maintain bearish views, citing operational and cash-burn concerns.
Ola Electric shares up 88% from record low: What’s behind the gains?
Shares of Ola Electric surged by 2.5% after a streak of five days of increases, yet they remain below previous peaks. The company has earned incentives of Rs 536.3 crore under the PLI scheme. Additionally, Ola Electric is set to raise Rs 1,500 crore and shift to a dealership approach.
Ola Electric shares soar 10%, stock rallies 86% in 6 months. More upside ahead?
Ola Electric shares surged nearly 10%, extending their three-session rally and gaining over 86% in six months from the March low. Brokerages, however, remain cautious amid weak volumes, lower margins and continued cash burn.
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