Ola Electric to seek board nod for proposed rights issue

Ola Electric plans to seek board approval for a rights issue of equity shares worth up to ₹1,500 Cr. The board will consider the proposal on September 28; the company previously raised ₹780 Cr via a QIP in June.

• Board to consider rights issue on September 28
• Total fundraise planned at up to ₹1,500 Cr
• Company raised ₹780 Cr via QIP in June
• Authorised share capital raised to ₹8,721.87 Cr