India, Oct. 22 -- Motilal Oswal Financial Services and Calliope Capital Advisors have applied for a combined 2.39 Cr shares in Ola Electric's Rs.1,000 Cr rights issue against entitlements transferred by two promoter group entities.

The electric two-wheeler maker said in an exchange filing that Motilal Oswal Financial Services applied for 1.28 Cr shares against rights entitlements renounced by ANI Technologies. Calliope Capital Advisors applied for another 1.10 Cr shares against entitlements transferred by Indus Trust.

Calliope Capital Advisors LLP is an investment vehicle owned by Navin Agarwal, group MD of Motilal Oswal Financial Services.

Both investors submitted their applications before 11:00 IST on the opening day of the issue, co...