Shares of Ola Electric Mobility fell 3% to Rs 35.44 on Thursday, Oct. 8, after the company approved the terms of its Rs 1,000 crore rights issue.
Around 10:26 a.m., the stock was trading at Rs 35.3 apiece on the NSE, losing around 2.8% from its previous close at Rs 36.32.
Investors are tracking the issue of 37.03 crore Rights Equity Shares at a rights issue price of Rs 27 per share, expected to raise Rs 999.74 crore. Investors will also closely follow whether the issue is subscribed to in full and the payment of call monies is received within the due time.
Ola Electric Rights Issue Details
The rights issue price of Rs 27 includes a face value of Rs 10 and a premium of Rs 17 per share. Shareholders will pay Rs 16.20 per share on application, while the remaining Rs 10.80 will be payable through the first and final call.
The first and final call is expected to be completed on or before Oct. 31, 2027. The board can also change the payment schedule based on business requirements and other commercial considerations, subject to applicable laws.
Ola Electric Rights Issue Dates
The record date for determining shareholders eligible for the rights entitlement has been fixed as Oct. 13, 2026. The rights issue will open on Oct. 22 and close on Oct. 30, while trading of rights entitlements will close on Oct. 26 only.
The company stated in the exchange filing that eligible shareholders will receive two rights equity shares for every 25 fully paid-up equity shares held on the record date.
Currently, the company has 462.84 crore outstanding equity shares, and if there is full subscription and payment of call monies of this rights issue, then the number of outstanding equity shares will rise to 499.87 crore shares after the rights issue.
The board has also approved the Letter of Offer to be filed with SEBI, BSE and NSE.
Also Read: Ola Electric Approves Rs 1,000 Crore Rights Issue; Fixes Issue Price At 26% Discount
Oa Electric Share Price Performance
Shares of this electric vehicle manufacturer have slumped close to 31% in the past year, and around 6% in the past month alone.
During the past 52 weeks, the stock has traded between Rs 22.25 and Rs 57.95 per share on the NSE and it currently has a market cap of Rs 16,392.02 crore.
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