Ola Electric shares drop 9% before rights issue board meeting
Business
Ola Electric's shares dropped 9% on Friday, September 25, just after a strong four-day run.
The dip came as the company announced a September 28 board meeting to discuss a possible rights issue for new shares, pending regulatory green lights.
Ola Electric ₹780 cr, registrations 43,719
This rights issue talk follows Ola Electric's recent ₹780 crore fundraising in June, which drew big names like Goldman Sachs and BNP Climate Fund.
On the sales side, things are looking bright: vehicle registrations nearly doubled last quarter to 43,719 units, with June alone marking Ola Electric's strongest monthly performance in recent quarters thanks to smarter retail moves and higher demand.