Bhavish Aggarwal Pledges 4.32% Stake for ₹1,000 Crore Ola Rights Issue

5 Oct 2026, 10:24 am · 23h ago · 1 min read · YourStory

Amount

₹1,000 Cr

Stage

Rights Issue

Ola Electric founder Bhavish Aggarwal has pledged a 4.32% stake (20 crore shares) to finance his participation in the company’s upcoming ₹1,000 crore rights issue. The shares were pledged through Krutrim Data Centre Private Limited against non-convertible debentures issued to CTL Trusteeship Limited. The move helps Aggarwal maintain his roughly one-third promoter holding without dilution. The capital raise follows Ola Electric’s ₹780 crore qualified institutional placement in June as the EV maker faces intensified competition from TVS, Bajaj, and Ather Energy amid declining quarterly revenues.