Company Intelligence Profile
Ola Electric Mobility Limited
India's largest electric two-wheeler manufacturer, listed on NSE/BSE (Aug 2024), maker of the Ola S1 scooter range and battery cells; still loss-making as of FY2026.
Last updated 6 September 2026
Ola Electric Mobility Limited is India's largest electric two-wheeler manufacturer, making the Ola S1 scooter range and lithium-ion battery cells through its Gigafactory. Listed on NSE and BSE in August 2024, the Bengaluru-based company reported consolidated revenue of Rs 2,253 Cr in FY2026 with a net loss of Rs 1,833 Cr. Pre-IPO fundraising exceeded $1 billion from investors including SoftBank and Temasek.
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
| Registered name | Ola Electric Mobility Limited |
|---|---|
| CIN | L74999KA2017PLC099619 |
| PAN | AACCO4289J |
| Status | Active |
| Listing |
|
| Incorporated | 03 February 2017 |
| ROC | RoC-Bangalore (Karnataka) |
| Sector (NIC) |
|
| Registered address |
|
| Authorized capital | ₹8,318.5 Cr (₹83,18,49,98,850) — TheCompanyCheck, Tofler and Falconebiz agree. |
| Paid-up capital |
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Business Overview
- Ola Electric Mobility Limited is a vertically integrated pure-play EV company headquartered in Bengaluru
- It designs and manufactures electric two-wheelers (the Ola S1 scooter family, plus motorcycles) and their core components including battery packs and lithium-ion cells (Ola Gigafactory / Ola Cell Technologies)
- It reports a leading share of India's electric two-wheeler market (company claims ~50% of the electric motorcycle segment in FY26 per Screener context)
- The company was founded by Bhavish Aggarwal (co-founder of Ola/ANI Technologies) and listed in August 2024
- It remains unprofitable amid intense competition and a slower-than-expected path to profitability
Directors & Board
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Bhavish Aggarwal | 03287473 | Managing Director | - |
| Arun Sarin | 01384344 | Director | - |
| Krishnamurthy Venugopala Tenneti | 01338477 | Director | - |
| Shradha Sharma | 03557496 | Director | - |
| Manoj Kumar Kohli | 00162071 | Director | - |
| Navalur Dattatreya Singh Shashank | 02237496 | Director | 28 Feb 2026 |
| Deepak Rastogi | 02317869 | - | 20 Jan 2026 |
GST & PAN
| GSTIN | State | PAN | Status |
|---|---|---|---|
| 29AACCO4289J1ZW | Karnataka | AACCO4289J (source: KnowYourGST / Masters India via GSTIN AACCO4289J structure) | Active |
| 21AACCO4289J1ZC | Odisha | AACCO4289J (source: KnowYourGST / Masters India via GSTIN AACCO4289J structure) | - |
| 04AACCO4289J1Z8 | Chandigarh | AACCO4289J (source: KnowYourGST / Masters India via GSTIN AACCO4289J structure) | - |
| 29AADCO3578R1ZH | Karnataka | AACCO4289J (source: KnowYourGST / Masters India via GSTIN AACCO4289J structure) | - |
Primary GSTIN: 29AACCO4289J1ZW (Karnataka — home state), status Active, taxpayer type Regular, GST registration date 11 July 2017. PAN: AACCO4289J. Number of registrations: ~24 GSTINs across Indian states (KnowYourGST). Other confirmed state examples: 21AACCO4289J1ZC (Odisha), 04AACCO4289J1Z8 (Chandigarh). Do not confuse with subsidiary Ola Electric Technologies Pvt Ltd (PAN AADCO3578R, GSTIN 29AADCO3578R1ZH) — separate entity.
Financials
- Latest audited — CONSOLIDATED, FY ending March 2026 (Screener): Revenue/Sales ₹2,253 Cr
- Operating Profit ₹(972) Cr (negative)
- PAT ₹(1,833) Cr (net loss)
- Net Worth ₹3,351 Cr
- Total Borrowings ₹2,763 Cr
- Total Assets ₹7,788 Cr. EBITDA not separately disclosed (company operating-loss making)
- Market cap ~₹17,255 Cr; price ~₹37.3; book value ~₹7.60/share (Jun 2026)
- Standalone figures not separately obtained
- Single-source (Screener) — treat as partial pending cross-check with audited annual report
Funding & IPO
- Pre-IPO: ~$1B raised over ~14 rounds from ~67 investors incl. SoftBank (first invested Jul 2019, Series B), Temasek (first invested Sep 2021, Series C), Tiger Global, State Bank of India
- Sep 2023: ~$385M (₹3,200 Cr) round (Temasek, SBI); a Temasek-led $140M tranche pegged valuation at $5.4B. IPO (Aug 2024): raised ~$734M (~₹6,146 Cr) — fresh issue ~$657M + OFS ~$77M — at ~$4.8B listing valuation (~25% below last private round)
In the News
Ola Electric Approves Rs 1,500 Crore Fundraise; COO Hyun Shik Park Resigns
Autocar Professional · 2 months ago
Ola Electric clears Rs 1,500 Cr fund raise; COO quits
YourStory.com · 2 months ago
Ola Electric plans to raise up to ₹1,500 crore; COO Hyun Shik Park resigns
ET Auto · 2 months ago
Ola Electric board approves ₹1,500 cr fund raise via equity instruments
scanx.trade · 2 months ago
Ola Electric Approves Rs 1,500 Crore Fundraise as COO Resigns
Whalesbook · 2 months ago
Headlines about Ola Electric Mobility Limited reported by third-party publications. Recur Club does not author or endorse this coverage. Last checked 9/6/2026.
Source: Google News aggregated headlines
Credit Ratings
- ENTITY-CONFUSION CAUTION: publicly reported ICRA ratings are on SUBSIDIARIES, not the listed parent directly
- ICRA (2025): downgraded Ola Electric Technologies Pvt Ltd facilities (~₹1,887 Cr) from 'A (Negative)' to 'BBB+ (Negative)'
- Ola Cell Technologies downgraded to BBB-/A3
- More recent reaffirmation cited at [ICRA]BBB (Negative) / [ICRA]A3+ for Ola Electric Technologies
- No standalone CRISIL or CARE rating for Ola Electric Mobility Limited was found
- Ratings for the listed parent specifically: not obtained
Legal Proceedings
- Indian Kanoon shows ~69 matches
- Notable: Ola Electric Mobility Ltd vs Central Consumer Protection Authority (Karnataka HC, WP 34459/2024, order 7 Jan 2025)
- Kushmanda Power Ltd vs Ola Electric Mobility Ltd (Delhi HC, commercial suit, hearings 2025–2026)
- Mihan India Ltd vs Ola Electric Mobility Pvt Ltd
- Sathya Sundar P vs Ola Electric Technologies Pvt Ltd (Bangalore District Court, OS 38/2023)
- The CCPA matter relates to consumer-complaint/service regulatory scrutiny
Competitors
Frequently Asked Questions
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