New Delhi, Sept. 25 -- Ola Electric Mobility share price came under pressure on Friday, 25 September, falling as much as 9% and snapping a four-session gaining streak.

The sell-off followed the company's announcement that its board will meet on 28 September to consider raising fresh capital through a rights issue of equity shares. The proposal will be subject to the necessary regulatory and statutory approvals.

Ola Electric disclosed the proposed fundraising in an exchange filing under Regulation 29(1)(d) of the SEBI Listing Regulations. The announcement comes only a few months after the electric two-wheeler manufacturer raised Rs.780 crore through a qualified institutional placement (QIP) in June. The QIP was subscribed 56% above the s...