Ola Electric approves ₹27 rights issue to raise up to ₹1,000 crore
In short
Ola Electric approved a rights issue at ₹27 per share and wants to raise up to ₹1,000 crore.
Investors will pay 60% now and the rest later. The company says the money could reduce debt and help it reach cash breakeven, but the final amount raised is not yet known.
What the reporting says
Ola Electric announced a rights issue price of ₹27 per share, aiming to raise up to ₹1,000 crore, with shareholders paying 60% upfront and the rest later. Economic Times summaries said chairman Bhavish Aggarwal plans to fully subscribe to his portion using a pledged stake. The funding is intended to ease debt pressure and help the company reach cash breakeven, though timing and final subscription levels were not stated.
Why it matters
Ola Electric approved a rights issue at ₹27 per share, targeting up to ₹1,000 crore. Investors will pay 60% upfront, with the balance due later, and chairman Bhavish Aggarwal plans to fully subscribe to his portion using a pledged stake. The funding is meant to ease debt burdens and support cash breakeven, but the reporting does not state the final subscription or completion date.