Ola Electric sets ₹27 price for ₹1,000-crore rights issue
The company said its board approved the issue price along with a two-call payment structure
Ola Electric has set the price for its ₹1,000-crore rights issue at ₹27 per share, offering a 26% discount compared to the company's current market value. The move aims to raise fresh capital from existing shareholders. The board has approved the issue price and a two-call payment structure. Shareholders will pay 60% of the issue price, or ₹16.20 per share, upon application, with the remaining ₹10.80 per share due through a final call on a date yet to be determined by the board.
This two-stage payment structure helps spread the funding requirement for investors while enabling Ola Electric to raise capital without needing the entire amount upfront. The rights issue is priced notably below the current market rate. Founder and promoter Bhavish Aggarwal has pledged a 4.32% stake in the company to support his participation in the rights issue, with no other promoter pledges reported at the time.
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- Ola Electric gets in-principle approval for ₹1,000-crore rights issue, board to decide key terms thehindubusinessline.com
- Ola Electric board approves rights issue at 26% discount; shareholders to pay in two calls economictimes.indiatimes.com
