Ola founders get allotted fresh shares worth Rs 544 Cr
Ola co-founders Bhavish Aggarwal and Ankit Bhati have been allotted with fresh shares as part of an agreement with Ola’s investors in the past where its backers agreed to incentivise them on completion of a defined threshold. Aggarwal was allotted 176,646 equity shares worth around Rs 375.4 crore while Bhati received 79,392 shares worth Rs 168.7 crore.
As of May 9, Aggarwal held a 7.29% and Bhati nearly 2.7% stake in the company, but following the funding round from Hyundai, their stakes were diluted further. The fresh allotments have now strengthened their holdings again.