Ola Electric Plunges to Record Low as CEO Sells Rs 230 Cr Shares

• Ola Electric shares fell 4.5% to a new record low on December 18, extending three-day losses to 16%.
• CEO Bhavish Aggarwal sold shares worth Rs 233 crore in two transactions on December 17 and an earlier Tuesday.
• The sale was a personal monetization by Aggarwal to fully repay a Rs 260 crore promoter-level loan.
• Ola stated the transaction aims to eliminate all promoter pledges and will not impact company operations or governance.
• The company's market capitalization is now Rs 14,500 crore, significantly down from its peak of over Rs 69,000 crore.

Why It Matters: Ola Electric shares hit a record low after CEO Bhavish Aggarwal sold shares to repay a personal loan.