Munjal family trust puts $1million in Ola Electric

Bengaluru: Pawan Munjal, chairman of Hero MotoCorp, has invested about $1 million in Ola Electric Mobility through his family trust.

Hero MotoCorp, which sells one of every two motorcycles locally, said recently it would spend Rs 10,000 crore on alternative mobility solutions.

Pawan Munjal Family Trust has been allotted 18 preference shares of Rs 10 face value each at a premium of Rs 39,87,608 per share (about $54,093 apiece).