[Update] Ola Electric Allots Rights Equity Shares For ₹1,000 Cr Fundraise

by · Inc42

SUMMARY

  • Ola Electric has allotted 37.03 Cr partly paid-up equity shares under its rights issue, taking the total fundraise to about ₹999.7 Cr once fully paid.
  • Shareholders have paid ₹16.2 per share on application, bringing in ₹599.8 Cr, while the remaining ₹10.8 per share will be collected through a subsequent call.
  • The company’s rights issue committee approved the allotment yesterday, following board approvals for the fundraise in September and its terms in October.