Ola Electric Mobility’s share declined 5% in intraday trading as Japan’s SoftBank group trimmed its stake by 2.15%, from 17.83% to 15.68%. The electric two-wheeler maker saw its share drop by 12% in two consecutive sessions.

“SVF II OSTRICH (DE) LLC has disposed of an aggregate of 94,943,459 equity shares of Ola Electric Mobility Limited in a series of disposals undertaken between July 15, 2025 and September 2, 2025, with the disposal on September 2, 2025, breaching the 2% threshold specified in Regulation 29(2) of the SEBI Takeover Regulations,” the regulatory filing said.

SoftBank held 786.6 million shares or 17.83% in the company before the transaction. Following the sale, its holding is reduced to 691.6 million shares, or 15.68%, and it remains the second-largest shareholder. Bhavish Aggrawal, the promoter, holds 30% of the company’s stake.

Ola Electric’s share price continues to dwindle for the second day after this news. In yesterday’s trade, the company recorded a 7% slip as the new GST reforms would bring down the prices of two-wheelers under 350cc, making ICE scooters cheaper, thereby putting pressure on electric vehicle sales.

Yet, shares of the electric two-wheeler company have been on an upward trend, as it has jumped by 50% in the past month, and above 70% from its low in mid-July. The massive rebound was driven by Ola announcing that it has secured a Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio. As per the exchange filing, the certification includes all seven Ola S1 Gen 3 scooters, as well as the Gen 2 and Gen 3 scooter portfolio.

The PLI certification makes Ola Electric eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) until 2028. The exchange filing stated that this certification would enhance Ola Electric’s profitability from second quarter onwards.

During its annual ‘Sankalp’ event, the company also announced S1 Pro Sport with 5.2 kWh and 4 kWh, S1 Pro+ 5.2 kWh, and Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell, starting at an introductory price of ₹1,49,999, ₹1,69,999 and ₹1,89,999, respectively. S1 Pro Sport deliveries are set to commence in January 2026, while deliveries of S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh start this Navratri.