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Ola Electric board approves rights issue at 26% discount; shareholders to pay in two calls ↗

Ola Electric has announced a rights issue price of Rs 27 per share, significantly below its market value, aiming to garner up to Rs 1,000 crore. Investors will pay 60% of this amount upfront, with the remainder due later. Chairman Bhavish Aggarwal intends to fully subscribe to his portion, using a pledged stake. This funding could ease debt burdens and assist the company in achieving cash breakeven.

From The Economic Times Markets

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2 sources

  1. The Economic Times Markets · 7 Oct, 19:39 IST
  2. The Economic Times Stocks · 7 Oct, 19:39 IST

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