Ola Electric founder sells personal shares to repay ₹260 cr promoter loan

Bhavish Aggarwal monetises a small part of his stake, lifting a key overhang while retaining roughly 34 per cent ownership

Ola Electric founder-promoter Bhavish Aggarwal has undertaken a one-time, limited monetisation of a small portion of his personal stake to fully repay a promoter-level loan amounting to Rs 260 crore. With this, all of the previously pledged 3.93 per cent shares will be released, removing a critical overhang.

 

“Post the transaction, the promoter group would continue to hold approximately 34 per cent in Ola Electric, among the highest across new-age listed companies,” said the company in a statement. “There is no dilution of promoter control or change in the long-term conviction.”

 

The company said this action is taken to eliminate all promoter pledges, which can introduce avoidable risk and volatility. The firm said it is part of the founder’s conviction that Ola Electric should operate with zero pledge overhang, and he should fully unwind the leverage.

 

The firm said the transaction is being executed entirely at the promoter’s personal level and would have no impact on Ola Electric’s operations, governance, or strategic direction. The firm’s focus remains firmly on building a globally competitive, India-first electric mobility and clean energy company.