Ola Electric plans ₹2,000 crore stake sale in battery unit
pre-market1 source ↓written by the desknot a recommendation
- by selling
- ₹2,000 crore
- a capacity
- 1.5 GWh
- by the end
- 6 GWh
Ola Electric aims to raise ₹2,000 crore by selling a stake in its battery subsidiary, Ola Cell Technologies (OCT). This move supports its strategy to enhance domestic battery manufacturing and energy storage capabilities. The fundraising is being facilitated by Avendus Capital and Motilal Oswal Financial Services.
OCT currently operates a lithium-ion cell manufacturing facility in Tamil Nadu with a capacity of 1.5 GWh, targeting an increase to 6 GWh by the end of the financial year.
Not investment advice. For informational purposes only.