Ola Electric gains 1%; founder pledged shares to raise funds for AI startup

Lakshmi Priya A Updated - December 04, 2024 at 01:25 PM.

Aggarwal earlier pledged 4.83 crore shares representing 1.1 per cent of Ola Electric’s equity

(FILE PHOTO) Ola Electric recently announced plans to open 3,200 new stores by December 2024, reaching deeper into tier-I and tier-II cities. | Photo Credit: FRANCIS MASCARENHAS

Ola Electric Mobility Ltd’s shares rose 0.52 per cent to ₹99.06 at 11:25 am on the BSE.

A businessline report had earlier said that, Ola Electric founder Bhavish Aggarwal had taken steps to fuel his AI startup.

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Aggarwal has pledged 4.83 crore shares representing 1.1 per cent of Ola Electric’s equity or 3.65 per cent of his shareholding. According to the report, the pledge will secure debentures issued by Krutrim SI Designs.

Ola Electric recently announced plans to open 3,200 new stores by December 2024, reaching deeper into tier-I and tier-II cities.

Published on December 4, 2024 06:01