Ola Electric shares in focus after clarification on promoter stake sale for debt repayment
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The announcement comes after promoter Bhavish Aggarwal completed a three-day stake sale worth Rs 324 crore, concluded on December 19.
The company stated that the stake sale was a one-time, limited monetisation of a small portion of Aggarwal’s personal shareholding. The total proceeds have been utilised for the repayment of a promoter-level loan of Rs 260 crore, along with interest and related charges.
Ola Electric further clarified that the entire transaction was conducted at the promoter’s personal level and would have no bearing on the company’s operations, governance, or strategic direction.
Over the course of the three-day sale, Bhavish Aggarwal sold a total of 6.8 crore shares. This included 4.2 crore shares on Wednesday for Rs 142 crore and 2.6 crore shares on Tuesday for Rs 92 crore.
The company confirmed that the transaction has led to the full release of all previously pledged promoter shares, amounting to approximately 3.93% of the total equity. Following the stake sale, the promoter group continues to hold around 34.6% in Ola Electric.
According to the company’s official communication, the transaction was aimed at eliminating the overhang of pledged shares and reducing potential volatility. It emphasised that there will be no dilution in promoter control and that the company remains committed to its long-term strategic goals.Ola Electric reiterated that it continues to focus on building a globally competitive electric mobility and clean energy company rooted in India. The company operates across the electric two-wheeler and EV ecosystem and has been positioning itself as a key player in the country’s clean energy transition.
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