Bhavish Aggarwal Tops Up Collateral With INR 20 Cr As Ola Electric Stock Skids

Share via:


SUMMARY

The Ola Electric stock has plunged 35% since listing last year and the company’s consolidated net loss deepened 109% to INR 870 Cr in Q4

CEO Bhavish Agarwal raised INR 250 Cr for his AI startup Krutrim by pledging Ola Electric shares last year

Aggarwal has been putting in extra money since March as the shares dipped below INR 50 apiece, Bloomberg reported

Ola Electric founder and chief executive Bhavish Aggarwal has reportedly paid around INR 20 Cr ($2.3 Mn) in cash to top up collateral for borrowings against…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Bhavish Aggarwal Tops Up Collateral With INR 20 Cr As Ola Electric Stock Skids


SUMMARY

The Ola Electric stock has plunged 35% since listing last year and the company’s consolidated net loss deepened 109% to INR 870 Cr in Q4

CEO Bhavish Agarwal raised INR 250 Cr for his AI startup Krutrim by pledging Ola Electric shares last year

Aggarwal has been putting in extra money since March as the shares dipped below INR 50 apiece, Bloomberg reported

Ola Electric founder and chief executive Bhavish Aggarwal has reportedly paid around INR 20 Cr ($2.3 Mn) in cash to top up collateral for borrowings against…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

NASA and the defence department rely on SpaceX in...

In 2006, a small, little-known company named Space...

Infosys gets relief as DGGI closes Rs 32,403 crore...

Infosys, India's second-largest IT services firm, has received...

Elon Musk’s feud with Trump spurs one of his...

Minute by minute, post by post, Elon Musk’s...

Popular

Upcoming Events

asdasdas asdasdas asdasdas asdasdas asdasdas asdasdas asdasdas asdasdas