Ola Electric on Saturday said its board has approved raising up to Rs 1,500 crore via an issue of securities.
The company’s board has considered and approved a proposal for raising funds by issue of shares, or convertible securities including warrants via rights issue, qualified institutional placement, private placement and/ or any other permitted modes under applicable laws for an aggregate consideration of up to Rs 1,500 crore, the Bengaluru-based firm said in a regulatory filing.
The electric two-wheeler maker did not disclose the reasons for raising the funds.
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