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Ola Electric shares surged nearly 10% on December 19 after CEO Bhavish Aggarwal sold a small stake to repay a loan and remove all promoter pledges
Ola Electric Share Price.
The shares of Ola Electric Mobility surged nearly 10 per cent on December 19 after the company disclosed that its promoter and CEO, Bhavish Aggarwal, has completed the sale of a small portion of his personal shareholding to repay a loan and eliminate all promoter pledges.
The electric scooter maker’s stock climbed to Rs 34.38 apiece during Friday’s morning trading session, snapping a three-session losing streak.
Here’s what Ola Electric said:
In an exchange filing issued in the post-market hours of December 18, Ola Electric Mobility said Bhavish Aggarwal has sold a part of his stake to fully repay a promoter-level loan of approximately Rs 260 crore. This move completely removes all promoter pledges, releasing the entire 3.93 per cent stake that had earlier been pledged against the loan.
Trading activity in the stock picked up sharply, with over 6.6 crore shares changing hands—about twice the volume recorded till the same time on Thursday. On Thursday, Bhavish Aggarwal had sold a 0.6 per cent stake in the company for Rs 90.28 crore through a bulk deal, offloading 2.83 crore shares at Rs 31.90 each, a discount of over 3 per cent to the stock’s closing price on Wednesday.
Earlier, on December 16, Bhavish Aggarwal had informed stock exchanges that he had undertaken a one-time, limited monetisation of a small portion of his personal stake to fully repay a promoter-level loan of Rs 260 crore.
“This action is taken to eliminate all promoter pledges, which can introduce avoidable risk and volatility. It is part of the founder’s conviction that Ola Electric should operate with zero pledge overhang, and he should fully unwind the leverage,” he said.
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December 19, 2025, 11:10 IST
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