Ola Electric gets in-principle approval for ₹1,000-crore rights issue, board to decide key terms
The company says that it has received the approval on Tuesday; the board meeting would be held on October 7
Ola Electric Mobility has received in-principle approval from stock exchanges for its proposed rights issue of up to ₹1,000 crore, with the board to meet on October 7 to decide key terms. The company has pledged a 4.32% stake by promoter Bhavish Aggarwal for this purpose, with the rights issue involving partly paid-up equity shares at a face value of Rs 10 each.
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