Ola Electric Slumps 6% After SoftBank Dilutes Stake

SUMMARY

SoftBank is the second-largest shareholder in Ola Electric after founder Bhavish Aggarwal, who held 30.02% in the company at the end of the June quarter

The investment arm of SoftBank, SVF II Ostrich (DE) LLC, sold 2.15% stake in the company between July 15 and September 2

Following the share sale, its stake in the Bhavish Aggarwal-led company declined to 15.68% from 17.83% before

Update | September 5, 18:32

Shares of Ola Electric fell as much as 8% to INR 59.38 during the intraday trading on the BSE today. The stock ended the day’s trade 7.2% lower at INR 59.91 on the BSE.

The company’s market capitalisation stood at INR 26,425.28 Cr (about $2.9 Bn) at the end of the session.

Original | September 5, 11:36

Shares of Ola Electric slumped as much as 6% to INR 60.70 during the early trading hours on the BSE today, a day after SoftBank said it had decreased its stake in the company.

The investment arm of SoftBank, SVF II Ostrich (DE) LLC, sold 2.15% stake in the company between July 15 and September 2. Following the share sale, its stake in the Bhavish Aggarwal-led company declined to 15.68% from 17.83% before.

SoftBank is the second-largest shareholder in Ola Electric after founder Bhavish Aggarwal, who held 30.02% in the company at the end of the June quarter.

At 11:00, shares of Ola Electric were trading 5.4% lower at INR 61.06 on the BSE. The company’s market capitalisation stood at INR 26,928.12 Cr (around $3 Bn). As many as 25.5 Cr shares were traded by then.

Despite the fall today, the stock is up nearly 45% in the last month. However, it is down 29% on a year-to-date basis.

The stock has been on an upward trajectory over the past few weeks on the back of it getting PLI certification for the Gen3 scooter lineup and plans to integrate in-house manufactured battery cells into its EVs. The company also unveiled a new escooter, S1 Pro Sport model, priced at nearly INR 1.5 Lakh last month.

Ola Electric’s electric two-wheeler registrations rose 6.1% month-on-month to 18,972 units in August, resulting in it reclaiming the second spot in the segment.

On the financial front, the company’s net loss widened 23% YoY in Q1 FY26 from INR 347 Cr in the same quarter of the previous year. Operating revenue dipped nearly 50% from INR 1,644 Cr in Q1 FY25.

However, its loss nearly halved (50.8%) sequentially and revenue rose 35.5% QoQ.