US EditionOla Electric Share Price Hits 10% Upper Circuit as Promoter Pledges Eliminated, Repays ₹260 Crore Loan
9 Articles
9 Articles
Ola Electric shares surge 10% as founder clears promoter pledge
Shares of Ola Electric Mobility surged 9.98 per cent to ₹34.38 on Friday afternoon, recovering from the previous day’s close of ₹31.26, after founder Bhavish Aggarwal sold 2.83 crore shares at ₹31.90 per share to eliminate all promoter pledges.
Ola Electric share price hits 10% upper circuit as promoter pledges eliminated, repays ₹260 crore loan
Ola Electric Mobility shares hit 10% upper circuit on December 19 after the company confirmed a limited monetisation of the founder's shares to repay a ₹260 crore loan, eliminating all promoter pledges. The promoter group retains 34.6% ownership without impacting the company's operations.
Times of India
The Economic TimesOla Electric shares surge 10% after Bhavish Aggarwal clears all promoter pledge
Ola Electric shares saw a significant jump. Promoter Bhavish Aggarwal sold shares worth Rs 324 crore. This move fully repaid a promoter-level loan. All previously pledged promoter shares are now released. The promoter group retains a substantial stake. This transaction has no impact on the company's operations or strategy. Ola Electric remains focused on its electric mobility goals.
On Friday, December 19, Ola Electric Mobility shares witnessed a huge jump. The company's shares reached the upper circuit of 10% and were trading at ₹34.40. The jump came after the company announced that its founder, Bhavish Agarwal, had completely paid off a debt of ₹260 crore by selling a portion of his personal shares. The company also said that 3.93% of the shares that were earlier pledged have now been fully released. The move has removed …
Ola Electric Shares Surge 10% After Bhavish Aggarwal Wraps Up Stake Sale
Shares of EV maker Ola Electric surged nearly 10% to touch an intraday high of INR 34.40 on the BSE today after founder and CEO Bhavish Aggarwal completed his stake sale yesterday. At 12:38 IST, the stock was up 9.97% at INR 34.40. The company’s market capitalisation stood at INR 15,173.25 Cr (about $1.7 Bn) at the time. Yesterday, Aggarwal sold 2.83 Cr shares in a bulk deal at INR 31.9 apiece, amounting to INR 90.3 Cr. Overall, he sold shares w…
Ola Electric Share Price Rises 7.5% After Promoter Stake Sale & Pledge Removal
Ola Electric share price: On Thursday, Bhavish Aggarwal, the company’s founder and promoter, sold 2.83 lakh equity shares valued at ₹90.3 crore at an average price of ₹31.9 per share, further reducing his ownership position in the business. Ola Electric share price: Following the company’s confirmation on Thursday of the completion of a one-time, limited monetization of a portion of the founder’s personal shareholding, which was undertaken to fu…
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