Ola Electric, the Indian electric vehicle maker, has received applications from Motilal Oswal and Calliope Capital Advisors for a combined 2.39 crore shares in its ₹1,000-crore rights issue. The company aims to raise ₹999.74 crore by issuing 37.03 crore partly paid-up equity shares at ₹27 apiece. Motilal Oswal applied for 1.28 crore shares, while Calliope Capital Advisors applied for 1.10 crore shares.
The rights issue opened on Thursday and will close on October 30, with two Ola Electric promoter-group entities renouncing their rights entitlements in favor of investors.
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