NEW DELHI: Bhavish Aggarwal, co-founder of electric two-wheeler (e-2W) company Ola Electric Mobility, on Tuesday sold 2.6 crore shares, representing a 0.6% stake in the company, through a bulk deal. The share sale comes at a time when Ola Electric’s shares have been hammered on the exchanges and are trading near their all-time low levels.
The shares were offloaded at an average price of Rs 34.99 per share, bringing the total deal size to Rs 92 crore. Shares of Ola Electric crashed 8.5% on Tuesday to close at Rs 34.20 apiece. As of September 2025, Aggarwal held a 30.02% stake in Ola Electric.
Ola Electric in a statement said that the 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 Rs 260 crore. Ola claimed that there will be no dilution of promoter control or change in the long-term conviction.
“With this, all of the previously pledged 3.93% shares will be released, removing a critical overhang. Post the transaction, the promoter group would continue to hold approximately 34% in Ola Electric,” said the company.
The stake sale by the founder-promoter also accompanies Ola’s falling sales in the Indian e-2W market. According to VAHAN data, the Bengaluru-based company sold 8,400 electric vehicles in November 2025, a massive decline of 71% year-on-year. This was also Ola’s lowest monthly sales in more than 3 years.
At its peak, Ola Electric dominated India’s e2W market with monthly sales peaking at 53,647 units in March 2024. However, growing competition from legacy players and issues regarding quality and services of its two-wheelers started reflecting on the company's sales.
From the top spot, Ola’s place has moved to 5th in the e2W market. The loss-making company has slashed its future sales guidance, stating that it will continue to focus on margin and cash discipline in a hyper-competitive market.
The company's net loss in the second quarter of the financial year 2026 narrowed to Rs 418 crore from a loss of Rs 495 crore it reported during the same quarter last year. However, revenue for the quarter declined by 43.2% to Rs 690 crore from Rs 1,214 crore last year.
The company’s share price is now hovering just above its 52-week low of Rs 33.17, highlighting investors’ low confidence and the extent of the correction the stock has undergone in recent months. The counter has fallen significantly from its 52-week high of Rs 100.40. Year-to-date, the stock has declined more than 60% compared to Sensex’s 8.44% gain.