Ola Electric falls nearly 10% before rights issue opens
In short
Ola Electric shares dropped as much as 9.96% to ₹32.70 on the NSE before recovering to ₹34.63. The company’s ₹1,000-crore rights issue is set to open on October 22 and close on October 30.
The fall could matter for shareholders facing a new round of fundraising. It is not stated why the stock moved or what the issue price will be.
What the reporting says
Ola Electric stock fell to ₹32.70 on the NSE, down 9.96% from Wednesday’s ₹36.32 close, before recovering to ₹34.63, according to market summaries tied to the company’s ₹1,000-crore rights issue. The rights issue is set to open on October 22 and close on October 30. The immediate consequence is pressure on shareholders, but the reporting does not state the subscription terms or why the stock fell.
Why it matters
Ola Electric shares dropped sharply ahead of a ₹1,000-crore rights issue, touching ₹32.70 on the NSE before recovering to ₹34.63. The planned offer opens on October 22 and closes on October 30, which could affect existing shareholders if they choose whether to participate. The available reporting does not explain the stock move or provide the rights issue pricing and entitlement details.