Ola Electric board greenlights Rs 1,500 crore fundraise plan

Electric two-wheeler maker Ola Electric’s board has approved a proposal to raise up to Rs 1,500 crore through a mix of equity shares and convertible securities, the company said in a filing with the stock exchanges on Saturday.

The fundraising may be carried out via multiple routes, including a further public offer, rights issue, qualified institutional placement (QIP), private placement or any other permitted modes.

This is subject to shareholder approval and regulatory clearances.

The approved fundraising comes a little over a year after Ola…