From mint · Pranati Deva · · 1m 10s
Ola Electric rights issue investors
Ola Electric investors apply for 2.39 crore rights entitlements in opening day of rights issue.
In brief
Ola Electric investors apply for 2.39 crore rights entitlements in opening day of rights issue. Ola Electric's promoter-linked entities transferred 2.39 crore rights entitlements to Motilal Oswal Financial Services and Calliope Capital Advisors for their rights issue applications. Originally reported by mint.
Ola Electric rights issue opens
Ola Electric's ₹1,000 crore rights issue opened October 22 at ₹27 per share and closes October 30.
Motilal Oswal applies for 12833054 entitlements
Motilal Oswal Financial Services applied for 12,833,054 rights entitlements transferred by promoter-linked entities.
Calliope Capital applies for 11022422 entitlements
Calliope Capital Advisors applied for 11,022,422 rights entitlements transferred by promoter-linked entities.
Total entitlements applied for
The two investors applied for 2,38,55,476 rights entitlements, equivalent to approximately 2.39 crore.
Rights issue details
Ola Electric approved a ₹1,000 crore rights issue with a ratio of two shares for every 25 fully paid-up shares held on record date.
Stock performance
Ola Electric shares fell 5% to an intraday low of ₹31.31 in Thursday's trade.
Previous stock performance
The stock had fallen 10% in one week, 16% in one month, 14% in three months, 18% in six months and 41% over one year.
What it means
Ola Electric's promoter-linked entities transferred 2.39 crore rights entitlements to Motilal Oswal Financial Services and Calliope Capital Advisors for their rights issue applications.
