India, Oct. 27 -- Shares of EV maker Ola Electric tumbled nearly 5% during the intraday trading on the BSE today. On Saturday (October 25), the company's board approved a proposal to raise INR 1500 Cr.

The stock fell to INR 50.26 on the BSE, closer to its lower circuit limit of INR 50.21. However, the shares recouped some of the losses and were trading 1.9% lower at INR 51.85 at 15:00 IST. The company's market capitalisation stood at INR 22,870 Cr (about $2.5 Bn) at the time.

Notably, the stock ended in the red in three out of the last five sessions on the BSE.

Ola Electric's fresh fundraising plans come over a year after it raised INR 5,500 Cr via the fresh issue through its IPO in August last year.

The company said that it would rai...