Ola Electric shares hit record low as Bhavish Aggarwal sells 6.8 crore shares worth ₹234 crore in two days

Extending its losing streak for the third straight session, shares of Ola Electric Mobility declined nearly 5% in early trade on Thursday to hit a fresh all-time low. The auto stock has fallen nearly 16% in three sessions as investors turned jittery after founder and promoter Bhavish Aggarwal sold nearly 6.8 crore shares worth about ₹234 crore over two days through open market transactions.

On Thursday, Ola Electric’s share price lost another 4.6% to slip to a fresh record low of ₹31.41, compared with its previous close of ₹32.92, amid heavy trading volumes. Over 98 lakh shares changed hands over the counter, compared with a two-week average of 80.34 lakh shares, dragging the market capitalisation to ₹13,960 crore.

At the current level, Ola Electric shares are down 68.6% from their 52-week high of ₹99.90 touched on December 26, 2024. The EV stock has delivered a negative return of 63% to shareholders in calendar year 2025, while it has lost 31% in six months and 25% in a month.

The sell-off in Ola Electric shares was triggered after Aggarwal carried out share sales in two tranches this week. On December 16, he sold over 2.6 crore shares, representing around 0.6% of the company’s equity, at ₹34.99 per share, raising about ₹92 crore. This was followed by the sale of an additional 4.19 crore shares on December 17 at an average price of ₹33.96 per share, fetching around ₹142.3 crore.

In total, the transactions accounted for over 1.5% of the company’s equity. Prior to the December 2025 sales, Bhavish Aggarwal held 30.02% shares in Ola at the end of September quarter of 2025.

In a statement issued on December 16, Ola Electric said the sale was a one-time, limited monetisation undertaken by the founder at a personal level to fully repay a promoter-level loan of ₹260 crore.

“With this, all of the previously pledged 3.93% shares will be released, removing a critical overhang,” the company said.

Following the transaction, the promoter group will continue to hold around 34% stake in Ola Electric, which the company said remains among the highest promoter holdings across new-age listed firms. There is no dilution of promoter control or change in long-term conviction, it added.

The company said the move was aimed at eliminating promoter pledges, which can create avoidable risk and volatility, and aligns with the founder’s view that Ola Electric should operate with zero pledge overhang.

The transaction, the statement said, has no impact on Ola Electric’s operations, governance, or strategic direction, and the company remains focused on building a globally competitive, India-first electric mobility and clean energy business.

For the second quarter ended September 30, 2025, EV manufacturer Ola Electric reported a net loss of ₹418 crore, down from ₹495 crore in the year-ago period, aided by the auto segment turning EBITDA positive for the first time at ₹2 crore. However, revenue from operations nearly halved to ₹688 crore, from ₹1,214 crore reported in the same period last year. The company delivered 52,666 units in the quarter, nearly half of the 98,619 units delivered in the second quarter of last year.

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