Pledge created over 2.43% of Ola Electric equity
OLAELEC · price
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On the reaction day the stock moved 2.9 pts less than Nifty Smallcap 250 and 2.6 pts less than its 2/3 Wheelers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Ola Electric's promoter has pledged 107,170,404 shares, equal to 2.43% of company equity and 8.09% of promoter holdings, to Axis Trustee Services. The pledge replaces an earlier block on selling the same shares, used as security for money borrowed by Krutrim Data Centre. The disclosed ratios imply promoter ownership of about 30%. Records may temporarily show both restrictions twice.
No immediate promoter stake sale is reported. The pledge gives lenders security and may weigh on sentiment, but covers only 2.43% of company equity.