Ola has been planning to raise up to USD 100 million in fresh funding from the existing shareholders.

The Board of company has provided its approval to the proposal of raising up to USD 100 million from existing shareholders in a recent meeting.

ANI Technologies that operates Ola, has said in a regulatory filing that its board has approved raising “up to USD 100 million (about Rs 670 crore) by issue of 495,526 Series ’11’ preference shares of face value INR 10 each at a price per subscription share equivalent to INR 13,521.”

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