From PanIIT Alumni India and the Andhra Pradesh government’s plan to create a Rs 500 crore venture fund focused on deeptech companies, to Ola Electric’s Chairman, Bhavish Aggarwal pledging a 4.32% stake in the company to raise funds, YourStory brings you today’s headlines with the latest developments across sectors.

Edtech firm PhysicsWallah (PW) has moved decisively to reduce its exposure to direct student lending, with its wholly-owned subsidiary FinZ Finance agreeing to sell a Rs 95.79 crore loan portfolio to Auxilo Finserve, an RBI-registered NBFC focused on education finance.

The deal covers a substantial or major part of FinZ’s loan book and is expected to result in a partial closure of its lending operations, PW said, adding the transition of the loans and borrowers should be completed within 60 days.

The significance of this move lies in the speed of the reversal.

Ola Electric founder Bhavish Aggarwal has stepped up to back the company’s upcoming Rs 1,000 crore rights issue, pledging a 4.32% stake in the EV maker to fund his participation.

The move comes days after Ola Electric’s board greenlit the plan to raise fresh capital through partly paid-up shares and appointed Deepa Bansal as its new compliance chief to bolster governance.

According to stock exchange filings on Sunday, Aggarwal pledged 20 crore shares against non-convertible debentures issued by Krutrim Data Centre Private Limited—a non-operative promoter entity owned by Aggarwal—to CTL Trusteeship Limited. The company clarified that no shares are being sold, no other pledges exist on his holdings, and Aggarwal will subscribe to the issue on the same terms as all other shareholders.

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