Ola Electric promoter Aggarwal sells small stake to clear ₹260 cr loan

Transaction removes all promoter share pledges, company says control and strategy remain unchanged

Ola Electric on Thursday confirmed that founder-promoter Bhavish Aggarwal has completed the one-time, limited monetisation of a small portion of his personal shareholding. The transaction was undertaken solely to fully repay a promoter-level loan of approximately Rs 260 crore and to release all 3.93 per cent shares previously pledged, thereby eliminating all promoter pledges.

 

“Following the transaction, the promoter group continues to hold 34.6 per cent in Ola Electric, with no dilution of promoter control or change in long-term commitment,” the company said in a statement. “This was a planned, time-bound exercise executed entirely at the promoter’s personal level and has no impact on the company’s performance, operations, or strategic direction.”

 

Ola Electric said it remains focused on building a globally competitive, India-first electric mobility and clean energy company.

 

Ola Electric recently announced the commencement of Hyperdelivery, offering same-day registration and delivery of vehicles, for its 4680 Bharat Cell-powered vehicles in Bengaluru. This offering is a part of the company’s umbrella Hyperservice initiative to deliver a transparent, convenient, and customer-first service experience. Under Hyperdelivery, customers can now complete their purchase online or at an Ola Electric Store and ride home on their fully registered vehicles on the same day.

 

Earlier this year, the company announced that it has moved its vehicle registration process completely in-house. This has enabled the company to offer a much smoother and more efficient journey from purchase to delivery to its customers.

 

Under its customer-first experience under Hyperservice, the company recently announced the nationwide rollout of its in-app service appointment feature, enabling customers across India to seamlessly schedule service for their vehicles. Furthermore, the company also announced the scale-up of Hyperservice into an open platform that redefines EV servicing in India.

 

Together, these initiatives form a key pillar of Ola’s broader India Inside strategy. This includes building open, scalable, and domestically integrated platforms across batteries, software, and now, after-sales, service, and delivery infrastructure.