Ola Electric news: The board of Bhavish Aggarwal's Ola Electric Mobility has approved a proposal to raise up to Rs 1,500 crore through a mix of equity shares and convertible securities, the electric two-wheeler maker said in a filing with the stock exchanges on Saturday. This is subject to shareholder approval and regulatory clearances.

The fundraising may be carried out via the issue of shares, or convertible securities, including warrants via rights issue, qualified institutional placement, private placement and/ or any other permitted modes under applicable laws. The Bengaluru-based firm did not disclose the reasons for raising the funds. The fundraising plan comes as investors, including SoftBank, Z47, Tiger Global Management, and others, have reduced their stakes in the Bengalur

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