Bhavish Aggarwal’s stake sale drags Ola Electric shares to record low; over 2% sold in three days
Published on 18/12/2025 07:54 PM
Shares of Ola Electric Mobility remained under pressure on Thursday as founder and promoter Bhavish Aggarwal continued to pare his stake for the third consecutive session, extending the stock’s sharp downtrend.
Aggarwal has now offloaded nearly 2.2 per cent stake in three days, raising over Rs 324 crore, an amount well above the Rs 260 crore promoter-level loan that he had earlier said would be fully repaid through a one-time monetisation of his personal holding. Persistent promoter selling weighed on investor sentiment, pushing the stock to an all-time closing low of Rs 31.26, down 5 per cent on the day amid higher trading volumes.
The stock has now lost about 80 per cent from its record high of Rs 157.40 touched on August 20 last year. Ola Electric’s market capitalisation slipped to Rs 13,797 crore, a sharp contrast to the nearly Rs 69,000 crore valuation it commanded at peak levels.
On Thursday, Aggarwal sold 2.83 crore equity shares, equivalent to 0.64 per cent of the paid-up equity, for about Rs 90.3 crore at an average price of Rs 31.90 per share. This follows the sale of 0.95 per cent stake worth Rs 142.3 crore on Wednesday and 0.59 per cent stake valued at Rs 91.87 crore on Tuesday, taking the total divestment over three sessions to 2.18 per cent.
As of September 2025, promoters held 36.78 per cent stake in Ola Electric, of which 8.25 per cent was encumbered. In a filing earlier this week, Aggarwal said the stake sale was undertaken to fully repay a Rs 260 crore promoter-level loan and release all pledged shares.
“This action is aimed at eliminating all promoter pledges, which can introduce avoidable risk and volatility. It reflects the founder’s conviction that Ola Electric should operate with zero pledge overhang and fully unwind leverage,” the company said.
Despite management reiterating that the transaction is being executed at the promoter’s personal level, continued selling pressure has kept the stock on the back foot, highlighting ongoing concerns around valuation, fundamentals and investor confidence.