“Ola Electric confirms that the promoter has completed the one-time, limited monetisation of a small portion of his personal shareholding. The transaction was undertaken solely to repay a promoter-level loan of approximately Rs 260 crore fully and to release all 3.93% shares previously pledged, thereby eliminating all promoter pledges,” the company said.
Following the transaction, the promoter group continues to hold 34.6% in Ola Electric, with no dilution of promoter control or change in long-term commitment.
“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 added.
This follows earlier transactions in the week, where he sold 4.2 crore shares on Wednesday for Rs 142 crore and 2.6 crore shares on Tuesday for Rs 92 crore. The total transaction value from the 3-day sale amounts to Rs 324 crore.
The stake sale was part of a one-time, limited monetisation of a “small portion” of Aggarwal’s personal holding to fully repay a promoter-level loan of Rs 260 crore, as per the company’s communication to the exchanges.
Sensex, Nifty today: Check all the LIVE stock market action here The filing further stated that with this transaction, all previously pledged 3.93% shares will be released, thereby eliminating a critical overhang.
Post-transaction, the promoter group is expected to continue holding approximately 34% in Ola Electric. The company emphasised that there will be no dilution in promoter control or change in long-term conviction.
The promoter’s action was undertaken to remove all pledges, which, according to the filing, can introduce avoidable risk and volatility. It stated that this was aligned with the founder’s view that the company should operate without any pledge overhang.
The company clarified that the entire transaction is being executed at the promoter’s personal level and will not impact Ola Electric’s operations, governance, or strategic direction.
Ola Electric reiterated that its core focus remains on building a globally competitive, India-first electric mobility and clean energy enterprise.
Also read: Ola Electric shares have fallen 63% this year, hitting multiple 52-week lows. Is a sharper fall awaiting?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)