Ola Electric Share Price Falls As EV Maker Fixes Rs 27 Rights Issue Price At 26% Discount; Check Record Date

Ola Electric Mobility shares came under pressure on Thursday, October 8, even as the electric vehicle company announced a discounted price for its upcoming rights issue. The Bhavish Aggarwal-led EV maker has set the issue price at Rs 27 per share, while the stock was trading at a significantly higher level in the market.

Ola Electric Share Price Today

The proposed fundraising is aimed at mobilising up to Rs 1,000 crore. With the issue being offered to existing shareholders at a discount of around 26% to the prevailing market price, the fundraising has put the focus on both the stock's immediate movement and the opportunity available to current investors.

Ola Electric Rights Issue At Rs 27; Check Record Date

Under the proposed fundraising, shareholders eligible for the rights issue will be able to buy additional Ola Electric shares at Rs 27 each. The number of shares an investor can apply for will depend on the entitlement ratio, which will be known after the company announces the record date.

The discounted price means eligible shareholders can acquire the new shares below the prevailing market price, although the actual benefit will depend on the stock price when the rights issue opens.

For existing investors, the decision to participate will also have a bearing on their eventual ownership percentage. Those who do not take up their entitlement may see their relative stake decline after the fresh shares are issued.

Ola Electric has structured the proposed issue so that investors do not have to pay the full Rs 27 immediately. At the application stage, subscribers will pay Rs 16.20 per share, equivalent to 60% of the issue price. The balance Rs 10.80 per share will be collected later through a final call. The timing for the final payment has not been fixed yet and will be determined by the company's board.

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