Ola Electric confirms the utilization of proceeds from a small monetization of promoter’s personal shareholding to repay debt, interest, and related charges. Following the repayment, all promoter-level share pledges, approximately 3.93% of the company’s total equity, have been fully released. The promoter group continues to hold 34.6% in Ola Electric.
Debt Repayment and Promoter Shareholding
Ola Electric has completed a one-time monetization of a small portion of the promoter’s personal shareholding. The company confirms that the funds generated from this transaction were used for the repayment of outstanding debt, associated interest, and other applicable charges. The remaining amount will be allocated towards covering applicable taxes related to these transactions.
Share Pledge Release
Following the debt repayment, Ola Electric has announced the release of all promoter-level share pledges. These pledges represented approximately 3.93% of the company’s total equity. With this release, the promoter group continues to maintain a substantial stake of 34.6% in Ola Electric. This development highlights the improved financial flexibility and stability of the company.
Strategic Focus
Ola Electric reaffirms its commitment to building a globally competitive, India-first electric mobility and clean energy company. The company continues to focus on innovation and expansion within the electric vehicle market and related sectors.
Source: BSE
