Ola Electric board approves plan to raise up to Rs 1,500 Cr

Ola Electric Mobility Limited has approved a proposal to raise up to Rs 1,500 crore through a mix of equity and convertible securities.

According to a stock exchange filing, the company’s board cleared the fundraising plan in its meeting held on October 25. The capital may be raised via further public offer, rights issue, qualified institutional placement, private placement or any other permitted mode.

Ola Electric, which listed on the stock exchanges in August last year, has been expanding its electric two-wheeler lineup and charging infrastructure…