Ola Electric Achieves Zero Pledge with Strategic Share Monetisation

Ola Electric confirmed completing a one-time monetisation of the founder's shares to repay a Rs 260 crore loan. This transaction released pledged shares, bringing the promoter's pledge to zero. The move does not affect company operations or control, aiming to improve transparency for shareholders.

Ola Electric has announced the successful completion of a strategic one-time monetisation of a portion of its founder's shares. This move was undertaken to fully repay a significant promoter-level loan amounting to Rs 260 crore, the company revealed.

This transaction led to the release of all 3.93% shares that were previously pledged, effectively reducing the promoter's pledge in the company to zero. According to a statement issued by the Bengaluru-based firm, this exercise was a planned and time-specific action carried out in tranches at the promoter's personal level.

Following the transaction, the promoter group retains more than 34.5% stakes in Ola Electric, maintaining one of the highest ownership levels among new-age companies. Ola Electric emphasized that there is no change in the founder's long-term conviction in the company, as the transaction aimed to eliminate leverage and reduce risk without affecting Ola Electric's operations or strategic objectives.

(With inputs from agencies.)