Pledging 2% of his Ola Electric stake, Bhavish Aggarwal is seeking funds to support his AI venture Krutrim.
Bhavish Aggarwal, chairman and managing director of Ola Electric, has pledged 2% of his shareholding in the company to raise funds for his artificial intelligence startup, Krutrim. This marks the third time since Ola Electric’s August 2024 IPO that Aggarwal has pledged part of his stake.
Regulatory filings revealed that the shares have been pledged as collateral for a loan from Aditya Birla Capital Ltd, though the loan amount remains undisclosed. The move is aimed at financing Krutrim’s expansion, which has been actively seeking new capital to accelerate its AI and computing initiatives.
Ola Electric recently raised ₹15 billion through a qualified institutional placement (QIP) to enhance production capacity and fund new model launches. However, repeated share pledging by the promoter has drawn some investor concern regarding liquidity and promoter confidence.
Analysts note that while share pledging is not uncommon, frequent instances could create short-term pressure on stock sentiment. Still, Aggarwal’s move highlights his continued commitment to developing a diversified technology ecosystem encompassing electric mobility and artificial intelligence.
Neither Ola Electric nor Krutrim provided additional details regarding the terms of the loan or its repayment timeline. Industry experts say the development signals Aggarwal’s broader ambition to position India at the forefront of both EV and AI innovation.
