Ola Electric board approved plan to raise up to ₹1,500 Cr via equity/convertible securities

Ola Electric’s board approved a proposal to raise up to ₹1,500 Cr by issuing equity shares and/or convertible securities, according to an exchange filing reported by Inc42. The proposed fundraise is subject to shareholder and regulatory/statutory approvals, and the company said it may use routes such as public offer, rights issue, QIP or private placement.