Bhavish Aggarwal pledges Ola Electric shares for rights issue
By Abha Lohia ·
- Ola Electric is a listed Indian electric scooter maker founded by Bhavish Aggarwal, who remains its promoter and main shareholder
- Aggarwal has pledged a 4.32% stake as security to raise money for his share of the planned rights issue; no shares are being sold
- The amount he is borrowing and his planned investment are undisclosed, while the board approved a rights issue of up to Rs 1,000 crore
What happened
- Founder Bhavish Aggarwal pledged a 4.32% stake.
- The pledge is only to fund his rights issue subscription.
- No shares are being sold.
- Neither the loan size nor his investment amount is disclosed.
Why it matters
- The board approved a rights issue of up to Rs 1,000 crore on 28 September.
- Revenue fell 45% to Rs 455 crore in the June quarter.
- Registrations dropped 25% to 43,908 units.
The business
- Ola Electric makes electric two-wheelers in India.
- It is listed on the stock exchanges.
- It raised Rs 780 crore through a QIP (share sale to institutions) in June.
The founders
In numbers
4.32%Pledged stake · 2026
Rs 455 croreQ1 FY27 operating revenue · 2026
Rs 336 croreQ1 net loss · 2026
What happens next
- Rights issue of up to Rs 1,000 crore proceeds after regulatory steps.
Earlier rounds
- QIP of Rs 780 crore in June 2026
Words to know
- Rights issue
- Existing shareholders get the chance to buy new shares.
More on Ola Electric
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- OEOla Electric · Results · 12 September 2026Ola Electric reports FY26 results and IPO fund reallocation
- OEOla Electric · News · 9 September 2026Ola Electric flags second suspected employee fraud
- OEOla Electric · Launch · 4 September 2026Ola Electric launches dealer stores and S1Z scooter
- OEOla Electric · Funding · 3 September 2026 · Rs 1,500 croreOla Electric approves Rs 1,500 crore fundraise and reports COO exit
- OEOla Electric · Policy · 29 August 2026 · ₹95.81 CrOla Electric gets ₹95.81 Cr PLI incentive for FY27
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