Ola Electric Stock Down Again Today; Founder Pledges More Shares

Bhavish Aggarwal, the founder of Ola Electric and artificial intelligence startup Krutrim, has pledged an additional 5.88 crore shares of Ola Electric, amounting to approximately ₹603 crore, to raise funds for his AI venture. This marks the second instance of share pledging by Aggarwal in support of Krutrim and brings the total encumbered shares to nearly 2.43% of Ola Electric’s equity. At 3:05 p.m. IST, 6th June, 2025 the stock price was down 0.63% in the day.

Shares Pledged as Collateral

The pledged shares are subject to a non-disposal undertaking, meaning they cannot be sold or transferred and remain under Aggarwal’s ownership. These shares are being used as collateral for debentures issued to institutional lenders, including Avendus Structured Credit Fund II, Avendus Finance, and InCred Credit Opportunities Funds.

Aggarwal had previously pledged 4.83 crore shares since December 2024. According to regulatory filings, the process to secure Krutrim’s funding is now complete.

Stock Performance

The company’s stock, listed at ₹76 on August 9, 2024, has declined to ₹53.24, representing a nearly 30% drop since its listing. Compared to its 52-week high of ₹157.53, the stock has decreased by 66%.

Ola Electric Faces Financial Strain

In terms of financial performance, Ola Electric posted a consolidated net loss of ₹870 crore for Q4 FY25, which is more than double the loss reported in the same quarter last year. Revenue declined to ₹611 crore, down from ₹1,598 crore year-on-year.

Market Share Decline in EV Segment

The company’s position in the electric two-wheeler market has also weakened. Its market share fell sharply from 49.2% in May 2024 to 20% in May 2025. During the same period, TVS Motor gained a leading 25% share, as per Vahan portal data.

Aggarwal’s Investment in AI

Aggarwal has been significantly increasing investments in Krutrim. In February 2025, he announced a ₹2,000 crore investment in the venture, with a total commitment of ₹10,000 crore by the end of the following year. Krutrim reached unicorn status in January 2024 after raising $50 million in funding and has since launched an Android-based chatbot application competing with global AI products.

Ongoing Expansion Plans

Despite the headwinds, Ola Electric continues to expand its retail network and aims to improve its financial performance in the upcoming year. The company remains a key player in India’s electric mobility sector, focusing on long-term strategic growth.

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