Bhavish pledges 4.32% Ola Electric stake for rights issue

Bengaluru: Ola Electric Chairman and Managing Director Bhavish Aggarwal has pledged a 4.32 per cent stake in the company to participate in its rights issue, which was approved by the company’s Board on September 28.

In a statement to the stock exchanges on Sunday, the company said, “Ola Electric promoter Bhavish Aggarwal has pledged a 4.32 per cent stake in the company to participate in the rights issue approved by the Board, as disclosed in the Draft Letter of Offer filed on September 28 2026.

This pledge is solely to fund his subscription to the issue, and there are no other pledges to his securities currently; no shares are being sold. The promoter will invest alongside all other shareholders on the same terms.”

As shown in filings made to the exchanges by the promoter under SAST regulations, 20 crore shares held by Aggarwal are being pledged against non-convertible debentures issued by Krutrim Data Centre Private Limited, in favour of CTL Trusteeship Limited.