Ola Electric shares in focus as board to finalise Rs 1,000 crore Rights Issue on October 5
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Ola Electric shares are in focus as the board meets on October 5 to finalise a Rs 1,000 crore rights issue.
- ✓Promoter Bhavish Aggarwal pledged a 4.32 per cent stake to fund his participation.
- ✓The company said, "There are no other pledges to his securities currently; no shares are being sold."
Story at a Glance
- Category
- MARKET
- Reported By
- Zee Business
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Ola Electric Mobility Ltd's board will meet on Monday to consider and decide various terms of the company's proposed rights issue of partly paid-up equity shares worth up to Rs 1,000 crore, according to a regulatory filing. Shares will remain in focus.
The meeting is scheduled for October 5, or after the company receives in-principle approval from the stock exchanges where its securities are listed or other regulatory authorities, whichever is later.
The board will consider key details of the proposed rights issue, including the issue price, payment mechanism, rights entitlement ratio, record date and timing of the issue, the company said.
In a separate statement, Ola Electric said promoter Bhavish Aggarwal has pledged 4.32 per cent stake in the company to fund his participation in the proposed rights issue.
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