Bhavish Aggarwal Sells Ola Electric Shares, Yet Stock Surges 10%!

• Ola Electric founder Bhavish Aggarwal sold 9.64 crore shares (2.2% equity) over three days, raising ₹324.45 crore.
• Despite aggressive selling, Ola Electric stock surged over 10% today, hitting the upper circuit at ₹34.40.
• The company disclosed the sale was to repay a ₹260 crore promoter-level loan and release 3.93% of pledged shares.
• Promoter shareholding remains strong at 34.6% even after the recent share sale.
• The stock had previously fallen 80.45% from its August 2024 high of ₹157.53 to a record low of ₹30.79.

Why It Matters: Ola Electric stock surged despite promoter selling, driven by loan repayment and pledged share release.