India, Sept. 24 -- Update | September 24, 00:19 IST

Days after Ola Electric received board nod to raise up to Rs.1,500 Cr via an undisclosed route, the electric vehicle (EV) maker has now said that it plans to seek the approval of the board for a proposed rights issue of equity shares.

"Ola Electric today informed the stock exchanges that it is seeking Board approval for a proposed rights issue of equity shares. The rights issue route is being considered to enable participation by all eligible shareholders including retail, institutional and (the) promoter group, subject to applicable laws," Ola Electric said in a filing with the exchanges.

The listed EV maker will now seek the approval at the upcoming meeting of its board of directors...