Krutrim gets more shares of Ola Electric Bangalore
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- Location: Bangalore, Karnataka, India
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.
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