Ola Electric Shares Hit Record Low After Bhavish Aggarwal Stake Sale; ₹260-Crore Loan Repaid, Pledge Overhang Ends
Ola Electric shares hit a record low of ₹30.76 on December 18, dropping over 4.5% intraday after founder Bhavish Aggarwal sold 2.83 crore shares for about ₹90.3 crore. The three-day selloff totaled 2.2% of the company, worth over ₹324 crore. The company said the sales aimed to clear a ₹260-crore promoter loan, not signal a change in control. The stock now trades nearly 59% below its IPO price.