Around Rs 603 crore is the total pledged value of Aggarwal’s Ola Electric shares, at the current NSE share price of Rs 56.37. Idleness
The creator of Ola Electric and the AI firm Krutrim, Bhavish Aggarwal, stated in a March 6 regulatory filing that he will promise an extra 5.88 crore shares of Ola Electric in order to acquire funds for Krutrim. An earlier commitment of 1.1 percent shares was supplemented by the most recent pledge.
This is recognized as the second and last pledge to finance Krutrim.
Given the current share price of Rs 56.37 on the NSE, the entire pledged value of Aggarwal’s Ola Electric shares is almost Rs 603 crore. In order to raise money for Krutrim, he has now committed to investing roughly 2.43 percent of Ola Electric’s total shares, or 8.09 percent of his own ownership position in the business.
Aggarwal pledged Rs 10,000 crore by the following year and announced an investment of Rs 2,000 crore in the AI business on February 4.
The goal of Krutrim, which translates to “artificial” in Sanskrit, is to construct the full AI computing stack.
Aggarwal, who holds little more than 30% of Ola Electric, has pledged the shares in favor of Axis Trustee Services Limited on behalf of InCred Credit Opportunities Funds I & II, Avendus Structured Credit Fund II, and Avendus Finance.
Prior to this, Aggarwal promised in December 2024 to support Krutrim’s finance with 1.1 percent of Ola Electric’s ownership.
In contrast to an outright sale, the pledged shares constitute a non-disposal undertaking. This indicates that Aggarwal will not sell or transfer the shares, but he will still maintain ownership.
Following $50 million in fundraising led by Matrix Partners India, an early supporter of Aggarwal’s other businesses, Ola Cabs and Ola Electric, Krutrim was valued at $1 billion in January.
In contrast to an outright sale, the pledged shares constitute a non-disposal undertaking. This indicates that Aggarwal will not sell or transfer the shares, but he will still maintain ownership.
Following $50 million in fundraising led by Matrix Partners India, an early supporter of Aggarwal’s other businesses, Ola Cabs and Ola Electric, Krutrim was valued at $1 billion in January.