Bhavish Aggarwal Sells Ola Electric Shares Worth INR 92 Cr

Ola Electric cofounder Bhavish Aggarwal has sold a 0.6% stake or 2.6 Cr shares in the EV maker in a bulk deal for INR 92 Cr. The deal valued each share at INR 34.99, slightly higher than the company’s closing price of INR 34.50 today. 

As per the latest shareholding data for September 2025, Aggarwal held a 30.02% stake in Ola Electric before the sale. Of this, 10.11% is pledged with lenders and 66.63% locked in, as per BSE shareholding data.

In a statement, the company said that the stake sale was part of a broader promoter-level transaction aimed at fully releasing all share pledges worth around INR 260 Cr. 

“Ola Electric founder-promoter has undertaken a one-time, limited monetisation of a small portion of his personal stake to fully repay a promoter level loan amounting to INR 260 Cr. With this, all of the previously pledged 3.93% shares will be released, removing a critical overhang,” the company said in a statement. 

The transaction involved monetising a small portion of Aggarwal’s personal shareholding, along with other personal income, to clear the pledges.

Following the transaction, around 3.93% of previously pledged promoter shares have been released, making the founder-promoter debt-free. As a result, the promoter-group holding in Ola Electric is expected to fall to a little over 34%.

“Post the transaction, the promoter group would continue to hold approximately 34% in Ola Electric,” the company said.

The said pledges was created to fund Aggarwal’s AI startup Krutrim, which has since repositioned itself as a cloud infrastructure player and is now said to be generating positive cash flows.

Source: Inc42 Datalabs

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A Year Of Setbacks

Aggarwal’s stake sale comes amid a series of setbacks for Ola Electric this year as 2025 became the year of multiple setbacks for Ola Electric. Notably, the EV maker faced regulatory heat, including an intensified probe by the CCPA after it received over 10,000 consumer complaints related to service issues, misleading advertisements and refund disputes. 

Operationally, the company has struggled with delivery delays, poor after-sales service and a slower expansion of its service network compared to vehicle sales. 

Ola Electric has also revised its FY26 sales guidance sharply, cutting projected deliveries from 3.25-3.75 Lakh units to about 2.2 Lakh units. 

Its full-year revenue guidance was also reduced to INR 3,000–3,200 Cr from the earlier estimate of INR 4,200–4,700 Cr. 

Per VAHAN data, Ola’s market share in the E2W (electric two wheeler) segment has fallen to about 7%, down from 18.7% a year ago, pushing it to fifth place behind rivals such as TVS, Bajaj, Ather and Hero.

The company has also missed multiple timelines related to its battery gigafactory and the commercialisation of its in-house battery cells. 

Against this backdrop, Ola Electric has begun pivoting beyond scooters into residential energy storage with the launch of its Ola Shakti battery systems. 

While Aggarwal has termed FY26 a “transition year” and projected energy storage as the next growth driver, its core EV business remains a focal point.

Shares of Ola Electric Mobility ended today’s trading session at INR 34.2 on the BSE, down 8.51%. The stock has been under pressure in recent sessions amid weak operating performance and lower revenue guidance.