Ola Electric Shares Jump 10% as Aggarwal Repays Rs 260 Cr Loan, Removes Pledges

• Ola Electric shares surged nearly 10% on December 19, snapping a three-session losing streak.
• Promoter and CEO Bhavish Aggarwal sold a portion of his personal stake to repay a loan.
• The sale was to fully repay a Rs 260 crore promoter-level loan.
• This move completely removes all promoter pledges, releasing the entire 3.93% pledged stake.
• Aggarwal stated the action aims to eliminate avoidable risk and volatility, ensuring Ola Electric operates with zero pledge overhang.

Why It Matters: Bhavish Aggarwal's stake sale to repay a Rs 260 crore loan boosted Ola Electric shares and removed all promoter pledges.