Ola Electric shareholders approve Rs 1,500-crore fundraise amid sales slide and negative cash flow

Ola Electric shareholders have approved a special resolution via postal ballot to raise up to ₹1,500 crore through a securities issuance. The approval comes at a critical time for the electric two-wheeler manufacturer, which is battling weak sales, shrinking market share, and significant cash burn that has pushed operating cash flows into negative territory.

According to the company’s exchange filing on Friday, 99.83% of votes across promoters, public institutions, and non-institutional shareholders supported the fundraising proposal.