Ola Electric CEO Bhavish Aggarwal Sells Shares to Repay 260 Crore Loan
Ola Electric's CEO Bhavish Aggarwal has sold company shares to repay a loan of 260 crore, resulting in a 10% surge in the company's stock price. Despite this share offloading, the company has clarified that there has been no dilution of promoter control or change in long-term commitment. The promoter group continues to hold 34.6% in Ola Electric, maintaining their significant stake in the electric scooter manufacturer. This strategic financial move demonstrates the company's focus on debt reduction while maintaining stable ownership structure.
Category: Automotive, Electric Vehicles, Financial Markets, News
What action did Ola Electric's CEO take regarding company shares?
CEO Bhavish Aggarwal sold company shares to repay a 260 crore loan, resulting in a 10% surge in the company's stock price.
When did Ola Electric shares rally following the CEO's share sale?
The shares rallied 10% immediately after the announcement of the share sale to repay the loan, demonstrating positive market reaction.
Who continues to control Ola Electric despite the share offloading?
The promoter group continues to maintain control of Ola Electric, holding 34.6% of the company's shares despite the recent transaction.
How has the share sale affected promoter control at Ola Electric?
The company has clarified that there has been no dilution of promoter control or change in long-term commitment despite the share offloading.
Where can investors find information about Ola Electric's current ownership structure?
Investors can access detailed information about Ola Electric's ownership structure through company disclosures and stock exchange filings.
Location: Raipur - C.G.
Category: News, Automotive
