India's Ola Electric Mobility falls as rights issue prices at discount
08/10/2026 07:28
BUZZ-India's Ola Electric Mobility falls as rights issue prices at discount ** Shares of Ola Electric Mobility OLAE.NS fall 4.1% to 34.83 rupees
** Electric two-wheeler maker sets issue price of 27 rupees per share for its 10-bln-rupee ($103.4 mln) rights issue, a ~26% discount to Wednesday's closing price
** Entitlement ratio at 2 rights shares for every 25 shares held
** OLAE said promoter will invest alongside all other shareholders on the same terms in the issue
** Of the proceeds from the issue, 3.5 bln rupees will be used for loan repayment, 4 bln rupees for organic growth initiatives, and 2.34 bln rupees for general corporate purposes
** YTD, OLAE down ~4%
($1 = 96.7575 Indian rupees)
(Reporting by Vijay Malkar)
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