Selling shares to repay ₹2.6 billion promoter loan, Bhavish Aggarwal trims debt at Ola Electric through bulk deal.
Ola Electric co-founder Bhavish Aggarwal sold 260 million shares of the company through a bulk deal on Tuesday to fully repay a ₹2.6 billion promoter loan, the company said. The shares, representing about 0.6 percent of Ola Electric’s equity, were sold at an average price of Rs 34.99 per share, bringing the total transaction value to roughly ₹920 million.
Ola Electric described the transaction as a one-time, limited monetisation by Aggarwal at a personal level, emphasising that it does not dilute promoter control or change long-term commitment. Following the sale, all previously pledged shares, amounting to 3.93 percent of the company, will be released, removing a key overhang for the stock. The promoter group will continue to hold around 34 percent of Ola Electric, among the highest stakes in new-age listed companies.
The share sale comes as Ola Electric faces challenges in revenue growth. In its latest financial results for the September quarter (Q2 FY26), the company reported net sales of ₹6.9 million, down 43 percent compared with the same period last year. Despite declining revenues, the company narrowed its net loss to ₹4.18 million from ₹4.95 million a year earlier, showing improvement in profitability metrics. EBITDA margins in the auto segment also improved, reflecting better operating efficiency.
The move highlights Aggarwal’s effort to strengthen his personal financial position while supporting the company’s stability. Analysts noted that the release of pledged shares could improve market sentiment, while the company continues its focus on operational efficiency and profitability amid challenging market conditions.
