Ola Electric approves a ₹1,000-crore rights issue, setting the issue price at ₹27 per share, which outlets describe as about a 26% discount to the market. The company says the rights issue is structured with two call payments, with shareholders paying part of the amount upfront and the remainder due later. After the issue, Ola Electric’s outstanding equity share count is expected to rise from roughly 462.84 crore to about 499.87 crore if fully subscribed.
According to reports, the board also decides key terms following in-principle approval earlier, after which the board meeting finalises the details. One outlet adds that investors are set to pay 60% initially and the balance later, while noting Chairman Bhavish Aggarwal plans to subscribe to his portion, supported by a pledged stake. The opening and closing dates reported place the offer window between October 22 and October 30, with the approvals aimed at raising capital and supporting the company’s financial plans, including reducing debt and progressing toward cash breakeven.
