Ola Electric Rights Issue: Motilal Oswal, Calliope Apply For 2.39 Cr Shares

Motilal Oswal Financial Services and Calliope Capital Advisors have applied for 2.39 million shares in Ola Electric's rights issue, according to an exchange filing. The rights issue, priced at ₹27 per share, aims to raise up to ₹1,000 crore. Motilal Oswal applied for 1.28 million shares, transferring rights from ANI Technologies, while Calliope Capital Advisors sought 1.10 million shares, relaying entitlements from Indus Trust.

Both investors submitted applications before 11:00 IST on the issue's opening day. ANI Technologies and Indus Trust held 3.47% and 2.98% stakes in Ola Electric as of June 30, 2026, respectively. Ankush Aggarwal, brother of Ola Electric's founder Bhavish Aggarwal, acts as trustee of Indus Trust. Bhavish Aggarwal, CMD of Ola Electric, has committed to subscribing to his full rights entitlement, as have other promoter group members. The rights issue closes on October 30, 2026.