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Ola Electric Mobility Limited ( (IN:OLAELEC) ) has shared an announcement.
Ola Electric Mobility Limited has announced that the proceeds from a recent one-time, limited monetisation of a small portion of the promoter’s personal shareholding have been used to repay debt, along with associated interest and charges, with the remaining funds earmarked for payment of applicable taxes on these transactions. Following this repayment, all promoter-level share pledges, representing about 3.93% of the company’s total equity, have been fully released, while the promoter group retains a 34.6% stake in Ola Electric, a move that strengthens the company’s capital structure and underscores its continued strategic focus on building a competitive electric mobility and clean energy business from India.
More about Ola Electric Mobility Limited
Ola Electric Mobility Limited is an India-based electric mobility and clean energy company focused on building a globally competitive, India-first ecosystem. The company operates in the electric vehicle and related clean energy industry, developing products and services aimed at accelerating the adoption of electric mobility in the Indian market and beyond.
Average Trading Volume: 3,837,348
Technical Sentiment Signal: Sell
Current Market Cap: 151.7B INR
For detailed information about OLAELEC stock, go to TipRanks’ Stock Analysis page.