CEO Tops Up Collateral as Ola Shares Slump

BHAVISH AGGARWAL, founder and chief executive officer of Ola Electric Mobility, paid about ₹20 crore in cash to top up collateral for borrowings against shares, sources said, as the stock slid on poor sales.

- ALISHA SACHDEV & SAIKAT DAS

The scrip on Thursday closed down 1.84% at ₹49.06 on the BSE.

Aggarwal had raised ₹250 crore for his generative AI venture Krutrim Data Center by pledging Ola Electric equity and he voluntarily put in the extra money since March as shares dipped below ₹50 each, sources said. No margin calls were triggered and the value of the stock collateral is more than twice the borrowed amount, they added.