Venture Intelligence (TSJ Media Pvt. Ltd.)
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Ola Electric raises Rs.100-Cr from Alteria Capital
Ola Electric has raised INR 100 crore (about USD 12 million) in debt from Alteria Capital. The company is to issue 10,000 non-convertible dentures at an issue price of INR 1,00,00 each to raise INR 100 crore. The debentures have an interest rate of 13.8% per annum with an additional 2% interest per month over and above the coupon rate, in the case of default.This is the second round of debt funding for the Bengaluru-based company in 2024. Earlier it had raised USD 50 million in debt from EvolutionX.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.