Ola Electric approves ₹1,500 crore fundraise, COO Hyun Shik Park quits

Ola Electric has approved a plan to raise up to ₹1,500 crore through equity shares or convertible securities, subject to shareholder and regulatory approvals. The fundraising could be done through a public offer, rights issue, QIP, private placement or other permitted routes. Meanwhile, COO Hyun Shik Park resigned on September 5, citing personal reasons, the company said.