Ola Electric Gets Rs 366.78 Crore PLI-Auto Sanction for FY25, To Be Disbursed Through IFCI

Overview

• Ola Electric disclosed via an exchange filing that the Ministry of Heavy Industries sanctioned Rs 366.78 crore under the PLI-Auto scheme tied to FY25 demand incentives.
• The order authorises release of funds through IFCI Ltd., the designated institution for disbursing benefits under the programme.
• The company said the sanction recognises its scale-up in domestic manufacturing, deeper localisation, and technology-led, vertically integrated production.
• Inc42 reported Ola had earlier filed for roughly Rs 400 crore based on about Rs 3,000 crore of eligible FY25 sales at an estimated 13–14% incentive rate, and logged 3.6 lakh EV registrations in FY25, up 9% year on year.
• NDTV reported founder Bhavish Aggarwal recently sold over Rs 300 crore of shares to fully repay promoter-level debt, and the stock closed 1.58% higher at Rs 35.30 on Wednesday but remains down about 58.8% year to date.