Ola Electric Allots 37 Cr Partly Paid Shares on Rights Basis

Ola Electric Mobility Limited has approved the allotment of 37,02,72,665 partly paid-up Equity Shares at a price of ₹16.20 per share, including a premium of ₹10.20 per share. This allotment, made on a rights basis to eligible shareholders, increases the company's paid-up equity share capital. The total amount paid on application per share is ₹16.20, with the balance payable on the first and final call as per the Letter of Offer. This move signifies a capital infusion through a rights issue, strengthening the company's financial structure.