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An announcement from Ola Electric Mobility Limited ( (IN:OLAELEC) ) is now available.
Ola Electric Mobility Limited announced the allotment of 25 crore non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS) by its wholly-owned subsidiary, Ola Electric Technologies Private Limited. This strategic move, approved at a recent board meeting, involves a total consideration of INR 250 crore and is aimed at enhancing the company’s financial structure through a preferential private placement to Ola Cell Technologies Private Limited. The announcement signifies Ola Electric’s ongoing efforts to optimize its capital structure and strengthen its position in the electric mobility market.
More about Ola Electric Mobility Limited
Ola Electric Mobility Limited operates in the electric mobility industry, focusing on the development and manufacturing of electric vehicles and related technologies. The company is known for its innovative approaches in electric mobility solutions and has a significant market presence in India.
Average Trading Volume: 16,822,179
Technical Sentiment Signal: Strong Sell
Current Market Cap: 228.3B INR
For a thorough assessment of OLAELEC stock, go to TipRanks’ Stock Analysis page.