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Ola Electric stock drops 8 percent after rights issue announcement, new shares priced at 27 rupees.
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CNBC Awaaz•08-10-2026, 14:17
Ola Electric stock drops 8 percent after rights issue announcement, new shares priced at 27 rupees.
- •Shares of Ola Electric Mobility faced heavy selling pressure, dropping about 8 percent to trade at 33.4 rupees following the rights issue announcement.
- •The company has fixed an issue price of 27 rupees per share for its proposed 1,000 crore rupees rights issue, which is significantly lower than the market price.
- •October 13 has been set as the record date to determine eligible shareholders who will receive 2 rights shares for every 25 shares held.
- •The rights issue will open on October 22 and close on October 30, with payment structured in two installments of 60 percent and 40 percent.
Key Questions Answered
Ola Electric has set October 13 as the record date to determine eligible shareholders for its ₹1,000 crore rights issue. The issue will open on October 22 and close on October 30, 2026, with the on-market renunciation facility available from October 22 to October 26.
The issue price has been fixed at ₹27 per share, which includes a face value of ₹10 and a share premium of ₹17. Shareholders are required to pay 60% of the amount at the time of application, while the remaining 40% will be collected later through a final call.
Chairman and Managing Director Bhavish Aggarwal is expected to fully subscribe to his rights entitlement by pledging a 4.32% stake in the company to fund the investment, with no shares being sold under this arrangement.
