Deals · Updated 22 Oct, 06:22 pm IST
Motilal Oswal entities apply for 2.39 crore Ola Electric rights shares
Why it matters for readers: It explains that the rights issue sells partly paid shares to raise funds for the electric vehicle maker and has a set closing date.
- Motilal Oswal Financial Services applied for 1.28 crore shares and Calliope Capital Advisors applied for 1.10 crore shares on the opening day.12
- Both investors exercised full rights entitlements transferred to them by ANI Technologies and Indus Trust.2
- Ola Electric’s rights issue is about Rs 1,000 crore, offering partly paid-up shares at Rs 27 each and closes on October 30.12
- Calliope Capital Advisors is an investment vehicle associated with Motilal Oswal and owned by Navin Agarwal, according to reporting.2
- The rights issue proceeds are earmarked for debt repayment, organic growth, and general corporate purposes.2
Get a brief like this every morning
Uzha reads hundreds of sources and gives you the stories that matter for your work, with every source linked. Free.
Get startedHow this story developed
22 Oct, 11:12 am · ET Tech
Motilal Oswal entities apply for 2.39 crore Ola Electric shares in Rs 1,000-crore rights issue
22 Oct, 06:22 pm · Inc42
Ola Electric Rights Issue: Motilal Oswal, Calliope Apply For 2.39 Cr Shares