Ola Electric Mobility Fund Raise of ₹999.7 Cr
Ola Electric Mobility Limited approved a rights issue of 370.27 million equity shares at Rs. 27 per share to raise Rs. 999.74 Crore.
- Value
- ₹999.7 Cr
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Ola Electric Mobility Limited approved a rights issue of 370.27 million equity shares at Rs. 27 per share to raise Rs. 999.74 Crore.
Ola Electric's board approved a rights issue of partly paid-up equity shares, targeting an amount not exceeding ₹1,000 crore to raise capital.
Ola Electric's board approved an enabling resolution to raise up to ₹1,500 Crore via issuance of securities. The meeting also noted management changes and AGM notice.
Ola Electric Mobility Limited successfully closed its QIP, raising ₹780.24 Crore. The company allocated 21.76 crore shares at ₹35.86 each to institutional investors.
Ola Electric Mobility Limited launched a Qualified Institutions Placement (QIP) with a floor price of ₹37.74 per share. The move aims to raise capital from institutional investors.