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Ola Electric Technologies Private Limited

Ola Electric Technologies Private Limited (CIN U34300KA2021PTC142884) is the principal EV two-wheeler manufacturing subsidiary of listed Ola Electric Mobility Limited, based in Bengaluru, with FY25 revenue of ~₹4,719 Cr and a net loss of ~₹2,063 Cr, rated ICRA BBB (Negative).

Active (per Falconebiz/TheCompanyCheck/Tofler; status updated ~25 May 2026)Not listed itself. It is a 100% wholly owned material subsidiary of Ola Electric Mobility Limited, which IS listed (NSE/BSE, IPO Aug 2024, ticker OLAELEC). Sources: ICRA/Business Standard, TheCompanyCheck.RoC-Bangalore / Karnataka (Falconebiz: "Bangalore"; Tofler: "Karnataka"). State code 29.
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Ola Electric Technologies Private Limited, incorporated on January 6, 2021, in Bengaluru, is a key subsidiary of Ola Electric Mobility Limited, focusing on electric two-wheeler manufacturing, including the Ola S1 e-scooter. Operating through the Ola Futurefactory in Tamil Nadu, the company reported FY25 revenue of approximately ₹4,719 crore and a net loss of ₹2,063 crore. It holds ICRA BBB (Negative) credit rating and faces active legal proceedings, including consumer complaints.

AI-generated, may contain errors.

Business Overview

  • Ola Electric Technologies Private Limited (OET) is the principal operating and manufacturing subsidiary of the Ola Electric group.
  • It designs and manufactures electric two-wheelers, Ola S1 family of e-scooters, and operates the group's manufacturing operations, the Ola Futurefactory ecosystem in Tamil Nadu, and direct-to-consumer sales/service network.
  • It is the main revenue-generating entity of listed parent Ola Electric Mobility Limited.
  • Source: ICRA rationale, TheCompanyCheck, company IR.

Sector & Classification

Manufacture of motor vehicles / electric two-wheelers (NIC group 3430-type "motor vehicles, trailers, semi-trailers"). Reported as NIC 34300 in the CIN. Source: Tofler, TheCompanyCheck. Exact 5-digit NIC not separately confirmed.

Directors & Key Management

Bhavish Aggarwal
Director · DIN 03287473
Shradha Sharma
Additional Director · DIN 03557496
Manoj Kumar Kohli
Additional Director · DIN 00162071
Rajiv Tharavanat
Additional Director · DIN 09237120
Deepak Rastogi
Additional Director · DIN 02317869
Suresh Mutyala
Director · DIN 11484323
Harish Abichandani
Director · DIN 07053519
Directors — source notes

Bhavish Aggarwal — DIN 03287473 (Director; confirmed across Falconebiz, Tofler, WebSearch). Other board members reported (single/partial source, board has changed over time): Shradha Sharma — DIN 03557496; Manoj Kumar Kohli — DIN 00162071; Rajiv Tharavanat — DIN 09237120 (Additional Director); Deepak Rastogi — DIN 02317869 (Additional Director); Suresh Mutyala — DIN 11484323 (Whole-Time Director); Harish Abichandani — DIN 07053519 (listed by Tofler, may be past). DINs not cross-confirmed by 2+ sources except Bhavish Aggarwal. Sources: Falconebiz (best for DINs), Tofler, WebSearch.

GST Registrations

Primary/Regular GSTIN: 29AADCO3578R1ZH — Karnataka (state code 29), Regular taxpayer, registered 23/06/2021, Active (KnowYourGST individual page). ISD GSTIN: 29AADCO3578R2ZG — Karnataka, allotted 24/03/2022 (Masters India). Also 24AADCO3578R1ZR — Gujarat (state code 24) (piceapp). PAN: AADCO3578R. Home state: Karnataka. Number of registrations: ~32 across states per KnowYourGST. Status: Active.

Financials

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Ola Electric Technologies Private Limited reported a standalone FY 2025 revenue of ₹4,719 crore, down about 8% year-over-year. The company posted an EBITDA of -₹1,525 crore and a net loss of ₹2,063 crore, with a net worth of ₹1,324.9 crore. Borrowings stood at ₹1,670 crore.

AI-generated, may contain errors.

  • Latest audited FY, FY ending 31 Mar 2025, STANDALONE, OET entity level, per Tofler & TheCompanyCheck, 2 sources agree on revenue: Revenue ₹4,719 Cr (down ~8% YoY)
  • EBITDA -₹1,525 Cr
  • PAT (net loss) -₹2,063 Cr
  • Net worth ₹1,324.9 Cr
  • Borrowings ₹1,670 Cr, single source Tofler — partial.
  • NOTE / entity-confusion caution: listed parent Ola Electric Mobility Limited reported CONSOLIDATED FY25 revenue ~₹4,645 Cr and net loss ~₹2,276 Cr, press release/Screener, — do not conflate the two entities' figures.

Funding History

  • No independent external venture/PE funding rounds at this entity. OET is a 100% wholly owned subsidiary
  • It is capitalised through equity infusions from parent Ola Electric Mobility Limited, which itself raised from SoftBank, Temasek, Tiger Global, etc., and via its Aug 2024 IPO.
  • Group-level fundraising should not be attributed to OET specifically.
  • Source: ICRA rationale, TheCompanyCheck.

Shareholding

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Ola Electric Technologies Private Limited is a wholly owned subsidiary of Ola Electric Mobility Limited, which owns 100% of its shares.

AI-generated, may contain errors.

  • 100% held by Ola Electric Mobility Limited (listed parent). OET is described as a "material wholly owned subsidiary." Source: ICRA/Business Standard, WebSearch. Exact share count/folio not obtained.

Loans & Charges

  • Not obtained in detail. Tofler indicates borrowings of ~₹1,670 Cr (FY25) implying secured facilities
  • ICRA rates bank facilities of the company. Specific charge IDs, charge holders (lenders), and amounts not obtained, MCA charge index blocked/zauba excluded.

Credit Ratings

  • ICRA, reaffirmed ~April 2026: Long-term ICRA BBB
  • Outlook Negative / Short-term ICRA A3+ on bank facilities. Sister entity Ola Cell Technologies rated ICRA BBB-
  • Negative / ICRA A3, do not attribute to OET. No CRISIL or CARE rating found. Sources: Business Standard, ICRA affirmation, ICRA rationale PDFs, id 142727, 123905, 107876, TipRanks.

Competitive Landscape

  • TVS Motor Company – iQube, large, listed OEM
  • Bajaj Auto – Chetak, large, listed OEM
  • Ather Energy, mid, listed 2025, pure-play EV 2W
  • Hero MotoCorp – Vida, large, listed OEM
  • Greaves Electric Mobility / Ampere (mid)
  • Okinawa Autotech (small). All compete in the Indian electric two-wheeler market.

Frequently Asked Questions

What does Ola Electric Technologies Private Limited do?

Ola Electric Technologies Private Limited designs and manufactures electric two-wheelers, specifically the Ola S1 family of e-scooters. It operates the Ola Futurefactory ecosystem in Tamil Nadu and manages a direct-to-consumer sales and service network.

What is the CIN of Ola Electric Technologies Private Limited?

The CIN of Ola Electric Technologies Private Limited is U34300KA2021PTC142884.

What is the GSTIN of Ola Electric Technologies Private Limited?

The primary GSTIN of Ola Electric Technologies Private Limited is 29AADCO3578R1ZH, registered in Karnataka. They also have an ISD GSTIN: 29AADCO3578R2ZG in Karnataka and 24AADCO3578R1ZR in Gujarat, among approximately 32 GST registrations across states.

When was Ola Electric Technologies Private Limited incorporated?

Ola Electric Technologies Private Limited was incorporated on 06 January 2021.

Where is the registered office of Ola Electric Technologies Private Limited located?

The registered office of Ola Electric Technologies Private Limited is located at Ola Campus, Wing C, Prestige RMZ Startech, Hosur Road, Municipal Ward No.67, Municipal No.140, Industrial Layout, Koramangala VI Bk, Bangalore South, Karnataka 560095.

Sources

Falconebiz (falconebiz.com), Tofler (tofler.in), TheCompanyCheck (thecompanycheck.com), KnowYourGST (knowyourgst.com — GSTIN 29AADCO3578R1ZH), Masters India (mastersindia.co), piceapp.com, IndianKanoon (indiankanoon.org), ICRA (icra.in rationale PDFs), Business Standard / TipRanks (ICRA rating coverage), Ola Electric IR press release & Screener (parent consolidated figures for cross-check).

Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.