Ola Electric Mobility Ltd said in a BSE filing on October 4, 2026, that promoter Bhavish Aggarwal has pledged a 4.32% stake in the company to fund his subscription to its rights issue. The company said the pledge is solely for that purpose and that no shares are being sold.

The statement links the promoter’s pledge to participation in the rights issue approved by the company’s board. It refers to the Draft Letter of Offer filed on September 28, 2026, in which the board-approved issue was disclosed.

Ola Electric also said there are no other pledges currently against Aggarwal’s securities. The disclosure therefore identifies both the stated purpose of the pledge and the company’s position on other existing pledges.

Promoter to subscribe on the same terms

The company said Aggarwal will invest alongside other shareholders on the same terms. Its statement sets out three points about the arrangement:

  • The stake pledge is solely to fund the promoter’s subscription to the rights issue.
  • No shares are being sold as part of the development described in the statement.
  • The promoter’s investment will be on the same terms as those applicable to other shareholders.

The 4.32% figure refers to the stake pledged in the company. The statement does not specify the amount raised through the pledge or the amount Aggarwal plans to subscribe for in the rights issue.

Statement submitted to both exchanges

The October 4 communication was addressed to BSE and the National Stock Exchange and signed by Chief Financial Officer Deepak Rastogi in Bengaluru. The company statement accompanied the covering letter as Annexure A.

Ola Electric is identified in the filing by BSE scrip code 544225 and NSE symbol OLAELEC. The company said the intimation would also be available on the announcements page of its investor relations website.

The supplied statement does not set out the rights issue’s price, entitlement ratio, total size or subscription timetable.