Ola Electric shares in focus after founder Bhavish Aggarwal sells more shares on Wednesday

Shares of Ola Electric Mobility Ltd. will be in focus on Thursday, December 18, after founder Bhavish Aggarwal sold an additional 4.2 crore shares of the company in the open market on Wednesday.

This comes just a day after he had sold 2.6 crore shares on Tuesday. The company in a statement then had mentioned that the sale was being executed to fully repay a loan worth ₹260 crore and remove the overhang of pledged shares by the promoter.

The two transactions carried out so far, are valued at ₹234 crore.

Company sources have told CNBC-TV18 that the sales were planned in tranches and not in a single block. They went on to add that the second tranche was completed on Wednesday, and the balance will be completed in due course.

Bhavish Aggarwal had a 30.02% stake in the company at the end of the September quarter.

At the end of the September 2024 quarter, Ola Electric Mobility had a total of 14.1 lakh small retail shareholders

, or those with authorised share capital of up to ₹2 lakh, who had a 8% stake in the company. At the end of the September 2025 quarter, there were a total of 19 lakh retail shareholders, who own a 17.3% stake in Ola Electric.

Shares of Ola Electric Mobility ended 5% lower on Wednesday at ₹32.8, marking a new low for the stock. The stock has corrected nearly 80% from its post-listing high of ₹157, and is down over 55% from its IPO price of ₹76.