Shares of Ola Electric are in focus on Thursday, December 18, after founder Bhavish Aggarwal sold an additional 4.2 crore shares on Wednesday, following the sale of 2.6 crore shares on Tuesday, according to disclosures and company sources.
Ola Electric had clarified on Tuesday that the share sale is being carried out to fully repay a promoter-level loan of Rs 260 crore. The two tranches executed so far are valued at around Rs 234 crore, with the remaining portion expected to be completed in due course.
Company sources said the transactions were planned in multiple tranches, and not as a single block deal. The second tranche was executed on Wednesday, while the balance sale will be completed over time.
Importantly, Ola Electric had stated that this is a one-time and limited monetisation of the founder’s personal stake. Once the repayment is completed, all previously pledged shares — about 3.93% of the equity — will be released, removing a key overhang on the stock.
The development is being closely tracked by investors, as the release of pledged shares is seen as a positive step towards improving the company’s promoter shareholding structure and balance-sheet clarity.
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