Ola Electric seeks board approval for rights issue after ₹1,500 crore QIP fundraise

Ola Electric is considering a rights issue to raise fresh capital, weeks after the board approved plans to raise up to ₹1,500 crore through equity and other securities. Capital-intensive EV builders are in constant fundraising mode to fund manufacturing expansion and inventory; builders should expect continued dilution and pressure on unit economics as cash burn remains high across the EV sector.

Source: ET Tech ↗