Motilal Oswal Financial Services and Calliope Capital Advisors, an investment vehicle associated with Motilal Oswal, have applied for a combined 2.39 crore shares under Ola Electric Mobility’s rights issue on the opening day on Thursday.

According to a stock exchange filing, Motilal Oswal applied for 1.28 crore shares and Calliope Capital for 1.10 crore shares.

The rights entitlements were renounced in favour of the two investors by two of Ola Electric promoters -- ANI Technologies, the parent of Ola Cabs, and Indus Trust.