Bhavish Aggarwal Reduces Ola Electric Stake by Nearly 2.2% in Three Days

Bhavish Aggarwal, founder and promoter of Ola Electric Mobility, continued selling shares of the Bengaluru-based electric scooter manufacturer for the third consecutive day on December 18th. Over three days, he divested nearly 2.2 percent of his stake, a sale valued at over Rs 324 crore. This amount exceeds the Rs 260 crore required to repay a promoter-level loan.

The consistent selling pressure from the promoter contributed to a downward trend in the stock price, which reached an all-time closing low of Rs 31.26, a 5 percent decrease with increased trading volume. The stock has fallen 80 percent from its record high of Rs 157.4 on August 20 of the previous year. The company's market capitalization currently stands at Rs 13,797 crore, significantly lower than the Rs 69,000 crore valuation it held at its peak.

On Thursday, Aggarwal sold 2.83 crore equity shares in Ola Electric Mobility, representing 0.64 percent of the paid-up equity, for Rs 90.3 crore at Rs 31.9 per share. This sale brought the total stake sold in the three-day period to 2.18 percent, valued at Rs 324.4 crore.

Prior to Thursday's sale, the promoter offloaded 0.95 percent stake worth Rs 142.3 crore on Wednesday, and 0.59 percent of shares worth Rs 91.87 crore on Tuesday.

As of September 2025, promoters held a 36.78 percent stake in Ola Electric, with 8.25 percent of that holding encumbered.

Aggarwal had previously informed exchanges on December 16th that he would undertake a one-time, limited sale of a small portion of his personal stake to fully repay a Rs 260 crore promoter-level loan.

He stated that this action was taken to eliminate all promoter pledges, which could introduce unnecessary risk and volatility. He added that it reflects his belief that Ola Electric should operate without any pledge overhang, and that he should fully unwind the leverage.