OIa Electric rights issue: Last day to buy EV scooter maker’s shares to be eligible for Rs 1,000 crore rights issue
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Today is the last day for investors to buy Ola Electric shares to qualify for the company’s Rs 1,000 crore rights issue.
- ✓The firm fixed October 13 as the record date.
- ✓Shareholders can buy new shares at Rs 27 each, which is cheaper than the recent market price of Rs 35.13.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Ola Electric Mobility has fixed October 13 as the record date for its Rs 1,000 crore rights issue, making today the last day for interested investors to buy shares of the EV scooter-maker to be eligible for the corporate action.
The Bhavish Aggarwal-led company last week fixed the issue price for its rights issue at Rs 27 per equity share, around 23% lower than the stock’s previous closing price of Rs 35.13 apiece on NSE, with the amount payable in two calls.
Only those shareholders who hold Ola Electric shares in their demat accounts as of Tuesday will be eligible for the rights issue. Due to SEBI's T+1 settlement norm, investors must purchase the company's shares at least one trading day before the record date so they are credited to their demat accounts by that date and qualify for the corporate action. This effectively makes today the final day for investors to buy the shares to be eligible.
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The Economic Times
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