Bhavish Aggarwal Pledges 4.32% Ola Electric Stake for Rights Issue

4 Oct 2026, 8:19 pm · 3h ago · 1 min read · Entrackr

Amount

₹1,000 Cr

Stage

Rights Issue

Ola Electric promoter Bhavish Aggarwal has pledged a 4.32% stake in the electric two-wheeler manufacturer to fund his participation in the company's upcoming ₹1,000 crore rights issue. According to an NSE regulatory filing, the pledge was created solely for subscribing to the board-approved capital raise, with no equity being sold. The move follows a difficult quarter where Ola Electric's Q1 FY27 revenue dropped 45% year-on-year to ₹455 crore, while net loss narrowed to ₹336 crore. Ola Electric previously raised ₹780 crore through a qualified institutional placement in June to strengthen balance sheet liquidity.