Ola Electric rights issue opens; Aggarwal pledges 4.32% stake

Ola Electric is conducting a rights issue, with shareholders able to trade rights on the market from October 22–26. CEO Bhavish Aggarwal is pledging a 4.32% stake to support the move. Proceeds may be used to repay debt and achieve cash break-even. Shares rose 0.83% to ₹36.26 on Wednesday.