Ola Electric shares extend losses as founder offloads ₹234 crore worth stock

For the three consecutive sessions, Ola Electric Mobility's shares hit a fresh all-time low, dropping by almost 5 per cent in the early trade on Thursday. The firm's stock has fallen by nearly 16 per cent in the third session because the investors became worried soon after the promoter and founder Bhavish Aggarwal sold almost 6.8 crore shares worth INR 234 crore (USD 28 million) in two days via the open market transactions.

On Thursday, the electric car company's share price dropped by almost 4.6 per cent, marking the lowest price at INR 31.41 (USD 0.38), where the previous day's close was marked at INR 32.92 (USD 0.40) and this is all happening whilst the trading volume was deemed to be high. The trading volume spiked, with over 98 lakh shares changing hands, significantly surpassing the two-week average of 80.34 lakh shares. Due to this, the market capitalisation of the firm came down to INR 13,960 crores (USD 1.68 billion).

In the current scenario, the electric company's shares are observed to be down 68.6 per cent, which is below the firm's  52-week peak of INR 99.90 (USD 1.20), which was hit on December 26, 2024. Concerning the shareholders, this EV stock has been a tough ride, delivering a negative return of 63 per cent in the 2025 calendar year. Over the past six months, the shares of the firm saw a decline of 31 per cent and in the last month, it has further slipped by 25 per cent.

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The electric car firm's recent drop in shares is said to have taken place soon after Bhavish Aggarwal sold off part of his stake in two separate transactions this week. He, on December 16, was reported to sell his shares of tal 2.6 crores which is marks up the firm's 0.6 per cent of total equity, These shares were sold at INR 34.99 (USD 0.42) per share which gave a total earnings of INR 92 crore (USD 11.1 million), Again on December 17, he further sold a total of 4.19 shares at the price INR 33.96 crore (USD 4.1 million) which further generated a total of INR 142.3 crore (USD 17.1 million).

In total, the transaction after selling these shares brought about only 1.5 per cent of the firm's equity. Bhavish Aggarwal owned a 30.02 per cent stake in the firm by the end of September 2025, which was far from the anticipated sales as of December 2025. Within a statement which was released on December 16, the firm had to assure that the divergence that happened is a one-time thing with limited monetisation initiated by the founder himself to pay off a promoter-level loan of INR 260 crore (USD 31.3 million).

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The outcome? The full 3.93 per cent of previously pledged shares shall be released, which shall aid in clearing a crucial hurdle. Soon after the transaction is completed, the promoter group will only hold 34 per cent in the firm. This figure is still deemed by the firm to be one of the highest promoter stakes in relation to the newly listed firms. It further emphasised that there's no dilution of promoter control or any shift in their long-term confidence.

It has been stated by the firm that this decision aims to get rid of promoter pledges, which are supposed to bring unnecessary risks and fluctuations. This aligns with the founder’s belief that the firm will be functioning without any pledge overhang.

It had also mentioned that this transaction will not affect the firm’s operations, governance, or strategic direction, where the main focus shall be on creating a competitive, India-first electric mobility and clean energy business on a global scale.

For the second quarter ending September 30, 2025, Ola Electric, the EV manufacturer, reported a net loss of INR 418 crore (USD 50.4 million), which is an improvement from INR 495 crore (USD 59.6 million) at the same period last year. This positive shift was aided by the auto segment achieving EBITDA positivity for the first time, reaching INR 2 crore (USD 0.24 million). However, revenue from operations nearly halved, dropping to INR 688 crore (USD 82.9 million) from INR 1,214 crore (USD 146.3 million) in the same quarter last year and deliveries decreased to 52,666 units from 98,619 units in the previous year’s quarter.

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