Ola Electric’s Bhavish Aggarwal completes Rs 324 crore share sale; stock hits record low

Share via:



Ola Electric founder and promoter Bhavish Aggarwal sold shares worth Rs 90.2 crore on December 18 in a third consecutive session, taking the total share sale over the past three days to 9.6 crore shares valued at Rs 324 crore.

The company had said on Tuesday that Aggarwal plans to offload a portion of his stake in the company to repay a promoter-level loan of Rs 260 crore.

In a statement issued on December 18, the Bengaluru-based company informed the exchanges that the “one-time, limited monetisation” of a portion of Aggarwal’s personal…



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

Ola Electric’s Bhavish Aggarwal completes Rs 324 crore share sale; stock hits record low



Ola Electric founder and promoter Bhavish Aggarwal sold shares worth Rs 90.2 crore on December 18 in a third consecutive session, taking the total share sale over the past three days to 9.6 crore shares valued at Rs 324 crore.

The company had said on Tuesday that Aggarwal plans to offload a portion of his stake in the company to repay a promoter-level loan of Rs 260 crore.

In a statement issued on December 18, the Bengaluru-based company informed the exchanges that the “one-time, limited monetisation” of a portion of Aggarwal’s personal…



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

Urban Company Gets INR 56 Cr GST Demand, Penalty...

SUMMARY GST officials took the view that the startup’s...

Temu-owner PDD Holdings appoints co-CEO Zhao as co-chairman of...

SynopsisPDD Holdings has appointed Jiazhen Zhao as co-chairman...

iPad $274, M5 MacBook, Apple Pencil, Magic Mouse, more...

Alongside the ongoing Amazon all-time low on AirPods...

Popular