Ola Electric’s rights issue receives applications for 2.39 crore shares from Motilal Oswal Financial Services and Calliope Capital Advisors, according to multiple reports. The companies are among the applicants for the EV maker’s ₹1,000-related rights offering, with both Business Line and Inc42 identifying the same two entities and the same share count.
The reports also point to how Ola Electric plans to use funds from the fundraising. Business Line says a substantial portion of the proceeds is earmarked for debt reduction and organic growth initiatives. Together, the sources frame the event as part of Ola Electric’s capital-raising effort and show investor participation from established financial firms.
Across the outlets, the shared focus is on the applicants and the number of shares. What varies is the amount of contextual detail: some summaries stress the applicants’ names and the application size, while one source adds a clearer statement about the intended use of proceeds.
