Ola Electric’s Board Approves ₹1,000 Cr Rights Issue

by · Inc42

SUMMARY

  • Ola Electric’s board of directors approved a rights issue of partly paid-up equity shares with a face value of ₹10 each
  • The company plans to utilise the the rights issue to raise up to ₹1,000 Cr out of the ₹1,500 Cr fundraise for which it had earlier gotten the board’s nod
  • The EV company has not yet disclosed how it plans to deploy the capital