Ola Electric Board Approves ₹15 Billion Fundraise Plan

Electric vehicle manufacturer Ola Electric Mobility’s board of directors has approved a resolution to raise up to ₹15 billion (~$158.84 million) through the issuance of equity shares and other securities.The company may raise the funds by issuing equity shares or securities convertible into or exchangeable for equity shares. These may include fully convertible debentures, partly convertible debentures, warrants, American depositary receipts, global depositary receipts, and other eligible securities.