Ola Electric Board Clears ₹1,000 Cr Rights Issue

Ola Electric's board approved a rights issue of partly paid-up equity shares to raise up to ₹1,000 Cr, part of a ₹1,500 Cr fundraise cleared days earlier. The EV maker has not disclosed how it will deploy the capital. Pricing, entitlement ratio and record date are still to be decided.