Ola rights issue, Sept. 29 -- Ola Electric Mobility announced on Monday that the board has approved a rights issue of partly paid-up equity shares to raise up to Rs.1,000 crore, subject to the receipt of necessary regulatory and statutory approvals.

The rights issue will be offered to eligible shareholders as of a record date, which will be determined and announced by the company at a later stage.

In an exchange filing dated 28 September, the company further informed that the board will meet on Monday, 5 October to consider, discuss and decide various matters in connection with the Rights Issue.

The company will announce key terms of the issue, including the issue price, rights entitlement ratio, record date, issue timeline and payment...