Pursuant to the approval of the shareholders of the Company for variation of the objects / terms of utilisation of the Initial Public Offering (‘IPO’) proceeds at the Annual General Meeting of the Company held on August 22, 2025, and in continuation of its intimation dated October 07, 2025, Ola Electric Mobility has informed that Ola Electric Technologies (‘OET’), a material wholly owned subsidiary of the Company, has, at its Board meeting held on October 29, 2025, approved the second tranche of allotment of 25,00,00,000, Non-cumulative and Non-participating, 0.001% Series A Optionally Convertible Redeemable Preference Shares (‘OCRPS’), having a nominal value of INR 10/-, each, aggregating to a total consideration of INR 250,00,00,000, to Ola Cell Technologies (‘OCT’), a material wholly owned subsidiary of the Company and fellow subsidiary of OET, on a preferential basis through private placement. Details for the further tranches will be intimated as and when funds are infused and allotments are made by OET. The details required under Regulation 30 of SEBI LODR Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 are enclosed as Annexure-A. The Board Meeting of OET commenced at 03:30 pm (IST) and concluded at 04:00 pm. (IST). This intimation will also be made available on the website of the Company and can be accessed using the below link: https://www.olaelectric.com/investor-relations/announcements.
The above information is a part of company’s filings submitted to BSE.
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