Ola Electric Mobility share price surged 10% in intra-day deals on Friday, December 19, after the company confirmed the completion of a one-time, limited monetisation of a portion of the founder’s personal shareholding. The exercise was undertaken to fully repay a promoter-level loan of around ₹260 crore.
The Bengaluru-based EV maker said the transaction led to the release of all 3.93% shares that were earlier pledged, bringing the promoter’s pledge in the company down to zero.
“Ola Electric confirms that the promoter has completed the one-time, limited monetisation of a small portion of his personal shareholding. The transaction was undertaken solely to repay a promoter-level loan of approximately ₹260 crore fully and to release all 3.93% shares previously pledged, thereby eliminating all promoter pledges,” it said in a press release.
Following the transaction, the promoter group continues to hold 34.6% in Ola Electric, with no dilution of promoter
control or change in long-term commitment. This was a planned, time-bound exercise executed entirely at the promoter’s personal level and has no impact on the company’s performance, operations, or strategic direction, stated the company.
It added that Ola Electric remains focused on building a globally competitive, India-first electric mobility and clean energy company.
