Ola Electric Shares Hit Fresh All-Time Low To INR 32.68

E2W Registrations: TVS Motor Back In Lead, Ola Slips To Fifth Position In November

SUMMARY

The company’s shares slipped over 5% during intraday trading on the BSE today (December 17) to touch a new low of INR 32.68

The company’s shares have crashed over 57% on a year-to-date (YTD) basis and 64% from its listing price of INR 76

Cofounder and promoter Bhavish Aggarwal offloaded 2.6 Cr shares or 0.6% stake in the company for INR 92 Cr via a block deal yesterday

Continuing its freefall on the bourses, Bhavish Aggarwal-led Ola Electric’s shares plunged to a fresh all-time low today. The company’s shares slipped over 5% during intraday trading on the BSE today (December 17) to touch a new low of INR 32.68.

However, shares recovered slightly to end the day at INR 32.8, still marking a 4.87% decline from the previous close. Its market capitalisation stood at INR 14,520.45 Cr (about $1.61 Bn) at the end of the day.

Interestingly, the company’s shares were trading at a 52-week high of INR 100.4 on December 17 last year. The company’s shares have crashed over 57% on a year-to-date (YTD) basis and 64% from its listing price of INR 76.

Today’s low follows cofounder and promoter Bhavish Aggarwal offloading 2.6 Cr shares or 0.6% stake in the company for INR 92 Cr via a block deal yesterday. The transaction weighed on investor sentiment, triggering selling pressure during the latter part of today’s trade.

However, the company clarified that the stake sale was part of a broader promoter-level transaction aimed at fully releasing his 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.

For context, the promoter-level loan was availed to fund investments into Krutrim, Aggarwal’s AI startup, and was secured against a portion of his Ola Electric shareholding.

Yet, it must be noted that the slump today is not an isolated event for Ola Electric. The company’s shares have seen increased selling pressure this year on the back of declining market share in the E2W segment, diminishing revenues and eroding consumer confidence due to weak post-sale servicing and missed deliveries.

According to latest VAHAN data, Ola Electric’s share in the E2W segment has dropped to 7% from 18.7% a year ago. On the financial front, Ola Electric’s operating revenue plunged 43% to INR 690 Cr from INR 1,214 Cr in Q2 FY25. It also managed to narrow net loss by 15% to INR 418 Cr in Q2 FY26.

The confidence of Ola Electric’s early investors also seems shaken, with many exits noted in the past few months. These include early backers Z47 (erstwhile Matrix Partners) and Tiger Global, both of whom diluted their stakes in the EV manufacturer in recent times. Following this, Japanese investor SoftBank also sold part of its stake in the company in September, amounting to 9.4 Cr equity shares.