Overview

• Investors approved a special resolution with 99.09% support to vary the IPO objects and extend the utilisation timeline.
• Revised allocations move more money to growth and liquidity: unutilised amounts now stand at Rs 901 crore for organic growth, Rs 1,049 crore for R&D, Rs 395 crore for debt repayment or prepayment, and Rs 248 crore for general corporate purposes.
• The company trimmed its R&D plan to about Rs 1,505 crore from Rs 1,600 crore and lifted the organic-growth outlay target to roughly Rs 1,200 crore from Rs 350 crore.
• Ola has already used the cell-plant expansion tranche and will limit cell capacity to 5 GWh until FY29, reflecting slower EV market growth.
• The stock closed down 3.38% at Rs 47.18 and remains under short-term ASM on BSE and NSE, while management signaled plans to refinance corporate debt with fresh NCDs approved by the board.