Bhavish Aggarwal, founder of Ola Electric Mobility, sold shares in his company for the third consecutive day on Thursday. Over three days, he has divested a 2.2% stake valued at more than Rs 324 crore, a figure larger than the Rs 260 crore required to clear a promoter-level loan.
The persistent selling by the promoter extended the stock’s downtrend, driving it to an all-time low close of Rs 31.46, a drop of more than 4% from the previous day's close. In the past three sessions, the stock has crashed more than 16% and so far this year it is down nearly 64%.
Thursday’s transaction involved 2.83 crore shares or 0.64% of paid-up equity sold at Rs 31.90 each for Rs 90.3 crore. Earlier, Aggarwal offloaded 0.95% (Rs 142.3 crore) on Wednesday and 0.59% (Rs 91.87 crore) on Tuesday.
Ola Electric confirmed on Thursday that the promoter has completed the one-time, limited monetisation of a small portion of his personal shareholding. The transaction was undertaken solely to repay a promoter-level loan of approximately ₹260 crore fully and to release all 3.93% shares previously pledged, thereby eliminating all promoter pledges, said the company.
“Following the transaction, the promoter group continues to hold 34.6% in Ola Electric, with no dilution of promoter control or change in long-term commitment. This was a planned, time-bound exercise executed entirely at the promoter’s personal level and has no impact on the company’s performance, operations, or strategic direction,” added the company.
The share sale comes at a time when Ola Electric’s shares have been hammered on the exchanges. The shares have plunged 80% from their August 20, 2024 high of Rs 157.40, slashing market capitalization to Rs 13,797 crore from a peak of Rs 69,000 crore.
The stake sale by Aggarwal 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 three 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 FY 26 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.