Bengaluru-based EV maker Ola Electric said its wholly owned arm, Ola Cell Technologies (OCT), will invest up to Rs 877.64 crore in its fellow subsidiary Ola Electric Technologies (OET).
According to a stock exchange filing, OCT’s board on October 1 approved the investment through subscription to 87.76 crore non-cumulative, non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS) of OET, at a face value of Rs 10 each.
The investment will be carried out in one or more tranches over the next year.
The move comes after shareholders of Ola Electric approved a change in the objects of its IPO proceeds at the company’s annual general meeting on August 22, 2025.
OET, incorporated in 2021, is engaged in the development and manufacturing of electric two-wheelers and core EV components such as battery packs, motors, and frames, with a vertically integrated model. It reported a turnover of Rs 4,510 crore in FY25, compared to Rs 5,000 crore in FY24 and Rs 2,586 crore in FY23.
The company added that the transaction, being between fellow subsidiaries, qualifies as a related-party transaction but is being undertaken on an arm’s length basis.
The fresh capital comes at a time when Ola Electric is doubling down on its gigafactory project in Tamil Nadu, which aims to localise battery cell production and reduce dependence on imports.
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