Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Founder Bhavish Aggarwal sells stake in Ola Electric for Rs.234-Cr
Bhavish Aggarwal, founder and CEO of Ola Electric Mobility, sold 4,19,00,000 crore shares at INR 33.96, amounting to INR 142 crore for a 0.95 % stake. He had previously sold shares worth INR 92 crore, making a total sale of INR 234 crore. The sale was aimed at eliminating all promoter pledges.Post the transaction, the promoter group would hold about a 34% stake in Ola Electric.
Between Feb-19 and Jun-24, Ola Electric had attracted about USD 1,065 M from Arun Sarin Family, Ratan Tata, Tiger Global, Z47, Munjal Family Office, SoftBank Corp, Alpha Wave Global, 360 ONE, Edelweiss Private Equity, Temasek, Alpine Capital, Archerman Capital, Tekne Capital Management, EvolutionX Debt Capital, Alteria Capital, and others.For FY25, Ola Electric had reported about INR 4,514 Cr in Operating Income and about INR 2,276 Cr in Net Loss.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.