Ola Electric promoter releases pledge on shares after ₹324 crore stake sale

Shares of Ola Electric Mobility Ltd. opened higher on Tuesday, December 23, after the company informed exchanges that proceeds from the recent one time monetisation of a small portion of the promoter's personal shareholding have been used to repay debt.

The company said the balance amount will be utilised to meet tax obligations linked to the transaction.

Following the repayment, all promoter level share pledges, aggregating to around 3.93% of Ola Electric's total equity, have been fully released. The promoter group continues to hold a 34.6% stake in the company.

Ola Electric founder Bhavish Aggarwal sold shares through block deals on the NSE over three sessions between December 16 and December 18. On December 18, he sold 2.83 crore shares at an average price of ₹31.90 apiece, marking the third consecutive day of stake sale. This followed transactions worth ₹234 crore across the first two days.

Aggarwal had sold 2.60 crore shares at an average price of ₹34.99 on December 16, and another 4.19 crore shares at ₹33.96 per share on December 17.

In total, he offloaded 9.62 crore shares at an average price of ₹33.63 per share, significantly below Ola Electric's IPO price of ₹76. The three day sale represented around 2.2% of the company's equity and raised ₹324 crore.

The company clarified that the transactions do not indicate any dilution of promoter control or a change in long term commitment. After the sale, total promoter holding has declined to 34.6% from 36.78% earlier.

Ola Electric's post listing momentum has weakened amid aggressive electric vehicle launches by legacy two wheeler manufacturers. The company's market share fell sharply to 6.7% in November 2025 from about 25% at the start of the year, pushing it down to the fourth position in the segment.

As of September 2025, Aggarwal held a 30.02% stake in Ola Electric, with 10.1% of his holding pledged, equivalent to 3.04% of the company's equity. Another promoter entity, ANI Technologies Pvt Ltd, held a 3.64% stake.

Among the eight analysts tracking the stock, four have a 'Sell' rating, three recommend 'Buy', and one has a 'Hold' call.

Shares of Ola Electric ended Monday's session marginally higher at ₹34.39. The stock is down over 55% from its IPO price and nearly 78% from its post listing peak of ₹157.