New Delhi, Oct. 7 -- Ola Electric Mobility, in its post-market-hours filing on Wednesday, said its board has fixed the issue price for the proposed rights issue at Rs.27 per equity share, including a premium of Rs.17 per rights equity share. This represents a 26% discount to the stock's Wednesday closing price of Rs.36.32, with the amount payable in two calls.

The board of Ola Electric has approved a rights issue of up to Rs.1,000 crore at Rs.27 per share, payable in two calls. The issue price has been fixed by the board at about 26% below the current market price, giving all existing shareholders an opportunity to add to their holdings at a substantial discount, the company said in its filing on Wednesday.

The company will issue 37,02,...