Ola Electric Approves ₹1,000 Cr Rights Issue at ₹27/Share

Ola Electric Mobility Ltd has announced its Board of Directors has approved a rights issue of up to ₹1,000 crore. The issue price is fixed at ₹27 per share, representing a discount of approximately 26% to the current market price. The payment will be made in two calls, with 60% due on application and the balance on a future date determined by the Board. This move aims to provide existing shareholders an opportunity to increase their holdings at a discounted rate. The promoter group has committed to participating in the rights issue under the same terms as other shareholders.