Motilal Oswal Group Entities Apply for 2.39 Crore Shares in Ola Electric Rights Issue

Motilal Oswal Financial Services and Calliope Capital Advisors applied for a combined 2.39 crore shares on the first day of Ola Electric's ₹1,000 crore rights issue.

ANI Technologies renounced 1.28 crore rights entitlements to Motilal Oswal, while Indus Trust renounced 1.10 crore entitlements to Calliope Capital.

The rights issue is priced at ₹27 per equity share, representing a 26% discount to the stock's Wednesday closing price of ₹36.32.