Ola Electric Mobility Limited has announced that it is seeking Board approval for a proposed rights issue of equity shares. The company is considering this route to allow participation from all eligible shareholders, including retail, institutional, and promoter groups, in compliance with applicable laws. Further details are expected following the Board’s decision.
Company Statement on Rights Issue
Ola Electric, a prominent player in the electric mobility sector, has officially informed the stock exchanges about its intention to seek Board approval for a proposed rights issue of equity shares. This strategic move is aimed at raising capital and further strengthening the company’s financial position.
Shareholder Participation
The company has stated that the rights issue route is being considered to ensure broad-based participation. This includes allowing all eligible shareholders, encompassing the retail, institutional, and promoter groups, to subscribe to the new equity shares. The process will be conducted in strict adherence to all applicable laws and regulations.
This intimation will also be available on the company’s official website. Further announcements regarding the specifics of the rights issue will be made following the Board’s approval.
Source: BSE
