Ola Electric founder and promoter Bhavish Aggarwal has pledged 4.32 per cent of his stake in the company to fund his participation in its proposed ₹1,000-crore rights issue, marking a return of promoter share pledging less than a year after he moved to clear promoter pledge overhang.
The company said Aggarwal has pledged the shares solely to fund his subscription to the rights issue and that there are no other pledges on his securities currently. No shares are being sold as part of the latest transaction, and the promoter will participate in the issue on the same terms as other shareholders.
The move comes after Aggarwal had in December 2025 monetised a portion of his personal holding to fully repay a promoter-level loan of about ₹260 crore. The repayment released all 3.93 per cent of Ola Electric shares that had previously been pledged.
At the time, Ola Electric said the exercise reflected Aggarwal’s conviction that the company should operate with “zero pledge overhang” and that he should fully unwind the leverage. Following the transaction, the promoter group continued to hold about 34.6 per cent in Ola Electric.
The latest pledge, however, is being undertaken for a different purpose, to enable Aggarwal to put fresh capital into Ola Electric through the rights issue.
The company has also raised ₹780.24 crore through a qualified institutional placement earlier this year, taking its equity fundraising through the QIP and proposed rights issue to nearly ₹1,780 crore.
Aggarwal’s latest move comes as Ola Electric seeks additional capital while continuing to invest in its electric vehicle and battery-cell businesses