<ul><li>Ola Electric board approves raising up to Rs 1,700 crore through the issuance of non-convertible debentures (NCDs) or other eligible debt instruments in one or more tranches.</li><li>This marks the first fundraising by Ola Electric since its IPO in August 2024, amidst mounting operational and regulatory challenges, including declining share price, rising losses, slowing sales, and regulatory actions.</li><li>The Maharashtra Transport Department ordered the closure of over 100 Ola Electric showrooms for operating without mandatory trade certificates, affecting the company's operations in the state.</li><li>Ola Electric lost its top position in the EV two-wheeler market to TVS Motor in April 2025, facing sales discrepancies and scrutiny from government departments due to differences in vehicle registration data and self-reported sales figures.</li></ul>

Ola Electric board approves Rs 1,700 crore debt fundraise, first since IPO

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