Ola Electric’s stock could see action in Thursday’s session. The company announced on Wednesday that its board meeting will be held this week to consider a fundraising proposal. The stock has seen sharp fluctuations of late. On Friday, the stock closed down by more than 2.5%.What has the company announced?
The company announced that its board of directors will meet on Saturday, October 25,
This meeting will consider and decide on a fundraising proposal for the company.In its exchange filing, the company stated that the capital could be raised through equity shares or other securities, including private placement, qualified institutions placement (QIP), preferential issue, or any other method, or through multiple methods.
The company clarified that the necessary regulatory, statutory, and shareholder approvals will be obtained before implementing this proposal.
How the stock performed
- The stock closed down 2.6% on Tuesday at 53.
- Its year-high was 102.5, reached in December last year. Its year-low was 39.6, reached on July 14th of this year.
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