New Delhi, December 18: Ola Electric on Thursday issued a clarification stating that founder and promoter Bhavish Aggarwal’s recent share divestment was a one-time, personal financial decision aimed solely at repaying a ₹260 crore promoter-level loan and fully unpledging shares.
According to the company, the transaction enabled the complete release of 3.93% equity that had earlier been pledged, effectively eliminating all promoter pledges and reducing leverage-related risk. Ola Electric emphasised that the sale was limited in nature and executed entirely at the promoter’s personal level.
Following the transaction, the promoter group continues to hold around 34.6% stake in Ola Electric, with no dilution of promoter control or change in long-term commitment to the company. The company said the move has no bearing on its operations, performance, or strategic direction.
Market participants noted that the clarification helps remove uncertainty around promoter intent, particularly at a time when the stock has already corrected sharply from its 2024 highs of over ₹157. With the stock trading significantly below peak levels, earlier monetisation opportunities may not have been practical.
In its statement, Ola Electric reiterated that it remains focused on building a globally competitive, India-first electric mobility and clean energy company, underlining that the promoter action should not be read as a signal on business fundamentals.
