Bhavish Aggarwal Pledges 4.32% Ola Electric Stake to Fund Rs 1,000 Cr Rights Issue

Ola Electric founder and CEO Bhavish Aggarwal has pledged a 4.32% stake in Ola Electric to fund his participation in the company’s upcoming Rs 1,000 crore rights issue.

The move comes after Ola Electric’s Board approved the rights issue on September 28, 2026. The company said Aggarwal’s stake pledge is being made only to arrange funds for his subscription to the issue and that no shares are being sold.

In a statement to the stock exchanges, Ola Electric said Aggarwal will participate in the rights issue along with other shareholders and will subscribe on the same terms.

20 Crore Shares Pledged

According to exchange filings made under the SAST regulations, 20 crore shares held by Bhavish Aggarwal have been pledged against non-convertible debentures (NCDs) issued by Krutrim Data Centre Private Limited in favour of CTL Trusteeship Limited.

The funds raised through these debentures will be used by Aggarwal to participate in Ola Electric’s rights issue.

The company also clarified that this is currently the only pledge on Aggarwal’s securities and that there are no other pledges against his shares.

Krutrim Data Centre Is a Separate Entity

Krutrim Data Centre Pvt Ltd is a non-operative promoter group entity owned by Bhavish Aggarwal.

The company is separate from Krutrim SI Designs, which operates Aggarwal’s AI and cloud infrastructure businesses.

The structure allows Aggarwal to raise the money required for his investment in Ola Electric without selling his existing shares in the electric vehicle company.

Aggarwal Continues to Back Ola Electric

Bhavish Aggarwal’s decision to fund his participation in the rights issue comes as a strong signal of his continued backing for Ola Electric.

Earlier, PTI had reported that Aggarwal was expected to participate in the rights issue. His intention to subscribe was later reflected in the company’s Draft Letter of Offer filed on September 28.

By using his own stake to raise funds for the rights issue, Aggarwal will invest alongside other shareholders rather than selling shares in the market.

Promoter Holding Remains Important

Ola Electric is among the relatively few publicly listed new-age technology companies where the promoter group continues to hold a significant stake.

The promoter group currently owns around one-third of the company.

Aggarwal’s participation in the rights issue is expected to help the promoter group maintain its ownership level after new shares are issued.

The Rs 1,000 crore rights issue is aimed at bringing fresh capital into Ola Electric as the company continues to build its electric vehicle business.

With Bhavish Aggarwal backing the issue through his own stake, the move also highlights his continued commitment to the company he founded and its long-term growth plans.