Ola Electric founder and CMD Bhavish Aggarwal has pledged a 4.32% stake in the electric two-wheeler maker to fund his participation in the company’s proposed rights issue of up to ₹1,000 Cr.

In an exchange filing yesterday, the company said the pledge was solely meant to finance Aggarwal’s subscription to the issue and that there were no other pledges outstanding on his securities.

“No shares are being sold. The promoter will invest alongside all other shareholders on the same terms,” Ola Electric said.

Citing the promoter’s disclosures under SAST regulations, PTI reported that the arrangement involves pledging 20 Cr shares in favour of CTL Trusteeship Limited to secure non-convertible debentures issued by Krutrim Data Centre Pvt Ltd. 

The report described Krutrim Data Centre as a non-operative promoter group entity owned by Aggarwal, separate from Krutrim SI Designs, which operates the AI and cloud infrastructure businesses. The debenture proceeds will fund Aggarwal’s participation in Ola Electric’s rights issue, it added.

Ola Electric’s statement did not disclose the amount raised against the shares or the financing terms.

According to the draft letter of offer filed last week, Aggarwal held a 26.52% stake in Ola Electric as of June 30, 2026. The 20 Cr pledged shares represent about 16.3% of that holding.

The draft document said Aggarwal has committed to subscribing to his full rights entitlement, subject to provisions allowing him to renounce entitlements in favour of promoter group members or specified investors. He may also subscribe to additional shares or any portion left unsubscribed, subject to minimum public shareholding requirements.

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