{
  "id": 12653135,
  "title": "Ola Electric’s ₹1,000 Cr Rights Issue To Open On October 22, Issue Price Set At ₹27",
  "url": "https://urgent.news/2026/10/07/ola-electrics-1-000-cr-rights-issue-to-open-on-october-22-issue-price",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T14:38:56.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/ola-electrics-%e2%82%b91000-cr-rights-issue-to-open-on-october-22-issue-price-set-at-%e2%82%b927/"
  },
  "original_language": "en",
  "account": "Ola Electric's ₹1,000 Cr rights issue will commence subscription on October 22 and conclude on October 30, according to the company's board of directors. The last date for shareholders to renounce their rights entitlements is October 26. At a price of ₹27 per share, the company anticipates raising ₹999.74 Cr, assuming full subscription and payment of call monies. This issue price represents a discount of over 5% compared to Ola Electric's closing price today (₹36.30). The rights issue will consist of 37.03 Cr partly paid-up equity shares with a face value of ₹10 each. Shareholders who held fully paid-up equity shares as of the record date of October 13 will be entitled to two rights shares for every 25 shares. The issue price includes a ₹17 premium, and shareholders must pay ₹16.20 per share on application, with the remaining ₹10.80 per share payable through a first and final call. The company's board approved the rights issue on September 28. Founder and CMD Bhavish Aggarwal has pledged a 4.32% stake to fund his participation in the rights issue. Ola Electric intends to allocate the funds raised between debt reduction, business expansion, and general corporate requirements.",
  "summary": "Ola Electric’s ₹1,000 Cr rights issue is set to open for subscription onOctober 22 and close on October 30, its…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}