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Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale

EntrackrEntrackr · 4d ago
Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale
Medial

Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale Bhavish Aggarwal has offloaded shares for the third straight trading session, selling 2.83 crore equity shares at an average price of Rs 31.9 per share, amounting to Rs 90.28 crore, according to exchange disclosures. The latest transaction comes even as Ola Electric’s stock slid to a fresh 52-week low during the day, intensifying investor concerns around sustained promoter selling. With this tranche, Aggarwal has now sold over 9.6 crore shares in three consecutive sessions, taking the total value of stake sales this week to nearly Rs 325 crore. Earlier, he had sold shares worth Rs 92 crore on December 16, followed by a larger Rs 142 crore divestment on December 17. Ola Electric has previously clarified that the stake sales are part of a one-time monetisation exercise aimed at repaying a Rs 260-crore promoter-level loan and fully unwinding pledged shares, and do not signal any dilution of promoter control or long-term commitment to the company. The company had indicated that proceeds from the earlier tranches were being used to clean up the promoter’s personal balance sheet and remove a pledge overhang. However, the continued selling, particularly at a time when the stock is trading near record lows, has kept the counter under pressure. Ola Electric’s shares have now fallen sharply from their post-listing levels, reflecting a combination of promoter stake sales, weak market sentiment, and ongoing concerns around EV demand, competitive intensity, and execution challenges in the two-wheeler segment. Ola slipped to fourth position in terms of 2W EV Sales for November with its market share shrinking to 7.19%. The company also registered a harsh 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of the ongoing fiscal year FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore.

Bhavish Aggarwal pledges Ola Electric shares for Krutrim’s debt

EntrackrEntrackr · 1y ago
Bhavish Aggarwal pledges Ola Electric shares for Krutrim’s debt
Medial

Ola Electric’s founder Bhavish Aggarwal has pledged his Ola Electric shares to raise debt funding (via issuing debentures) for its artificial intelligence startup Krutrim SI Designs. Bhavish Aggarwal, the promoter, entered into an agreement with Axis Trustee and Krutrim Data Center Private Limited on November 23. The agreement aims to provide assurance regarding certain debentures issued by Krutrim Design, Ola Electric’s internal document accessed by Entrackr show. As per the document, Bhavish Aggarwal held 132.39 crore shares of Ola Electric, accounting for 30.02% of the company. He pledged 4.83 crore shares, representing 1.10% of Ola Electric's equity or 3.65% of his total shareholding, as an encumbrance. Entrackr has reached out to Ola Electric for more details. Artificial intelligence startup Krutrim SI Designs has raised around $75 million to date and entered into a coveted unicorn club this year. Its investors include Z47 (formerly Matrix), Sarin Family, and others. On Monday, Aggarwal revealed plans to open 4,000 Ola Electric stores in December. Ola Electric is currently trading at Rs 91.79 with a total market capitalization of 40,487 crore (approximately $4.82 billion). In Q2, Ola Electric recorded a 26% decline in its operating revenue to Rs 1, 214 crore when compared to Rs 1,644 crore in Q1 FY25. However, the firm registered 39% year-on-year increase in revenue from Rs 873 crore in Q2 FY24. The company posted a net loss of Rs 495 crore during the September quarter.

Ola Electric’s tech arm to raise nearly $100 Mn via preferential share

EntrackrEntrackr · 2m ago
Ola Electric’s tech arm to raise nearly $100 Mn via preferential share
Medial

Ola Electric’s tech arm to raise nearly $100 Mn via preferential share Ola Electric Mobility Limited has announced that its material wholly owned subsidiary, Ola Electric Technologies (OET), has received board and shareholder approval to raise Rs 877.64 crore (nearly $100 million) through issuance of preference shares. According to a stock exchange filing on Tuesday, the fundraise will be executed via the allotment of up to 87.76 crore non-cumulative and non-participating 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS), each having a face value of Rs 10, to Ola Cell Technologies (OCT), another wholly owned subsidiary of the company. The issuance will be carried out on a preferential basis through private placement in one or more tranches. This move follows shareholder approval in August, which allowed variation in the objects and utilization of IPO proceeds. At that time, Ola Electric had said it secured approval to reallocate IPO proceeds for capital deployment in India’s electric two-wheeler market. Ola Electric Technologies (OET) is Ola Electric’s core manufacturing and technology arm, leading electric two-wheeler production and battery innovation. OET drives the scaling of Ola’s EV ecosystem, from vehicle platforms to advanced battery technology. Its wholly owned subsidiary, Ola Cell Technologies (OCT), focuses on indigenous cell R&D and large-scale manufacturing, supporting vertical integration and reducing dependence on imported cells. In August, Ola Electric jumped to second position among electric two wheeler manufacturers. The company's operating revenue reduced 50% to 828 crore in Q1 FY26, compared to Rs 1,644 crore in the previous year of the same quarter. Its losses went up 23.3% to Rs 428 crore in Q1 FY26, compared to Rs 347 crore in the same quarter last year. At the end of today's trading session, Ola Electric’s share price traded at Rs 56.95 with a market capitalization of Rs 25,119 crore (approx $2.8 billion).

Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session

EntrackrEntrackr · 5d ago
Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session
Medial

Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session Bhavish Aggarwal, founder and CEO of Ola Electric, sold 4,19,03,706 shares worth around 0.95% of the company’s equity through a bulk deal on the exchanges. The shares were offloaded at Rs 33.96 apiece, making the transaction value close to Rs 142 crore, based on stock exchange disclosures. This is the second consecutive trading session in which Aggarwal has reduced his shareholding in the company. His total share sales have cumulatively reached Rs 234 crore, with Rs 92 crore worth of shares being offloaded in the previous session. Following the bulk deal, Ola Electric stated that Aggarwal has undertaken a one-time and limited monetisation of his personal shareholding to fully repay a promoter-level loan of Rs 260 crore, resulting in the release of all previously pledged 3.93% shares. The company clarified that this transaction has no impact on Ola Electric’s operations, governance, or strategic direction. Despite this, the company’s stock hit an all-time low, ending at Rs 32.80 apiece and valuing the company at a market capitalisation of Rs 14,467 crore. Ola slipped to fourth position in terms of 2W EV Sales for November with its market share shrinking to 7.19%. It registered a 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore.

Ola Electric can achieve EBITDA breakeven by FY27: Goldman Sachs

EntrackrEntrackr · 1y ago
Ola Electric can achieve EBITDA breakeven by FY27: Goldman Sachs
Medial

Ola Electric, the Bengaluru-based electric vehicle (EV) manufacturer, is projected to reach EBITDA breakeven by the fiscal year ending March 2027, according to a recent report by Goldman Sachs. The company is expected to see its revenue grow at 2.5 times the current rate, with a fivefold increase in vehicle volume over the next three years. “We expect FY24 to FY30E revenue growth of +40% CAGR (vs FY22 to FY24 of +240%), implying FCF breakeven (ex-subsidies) in FY30E. We expect OLAE to achieve 11.9% / 27% EBITDA margin / ROIC by FY30E vs -19.7% / -32.0% pc in FY24,” said the Goldman Sachs report. Despite the promising projection, Ola Electric’s revenue growth in FY24 and FY21 Q1 has been modest. Its revenue from operations grew only 2.8% to Rs 1,644 crore in Q1 FY25 from Rs 1,598 crore in Q4 FY24. The company, however, managed to control its losses by 16.6% to Rs 347 crore in Q1 FY25. During the last fiscal year (FY24), it reported Rs 5,010 crore revenue and Rs 1,584 core loss. Goldman Sachs has issued a “buy” rating for Ola Electric, with a 12-month target price of Rs 160 per share, suggesting a potential 50% upside. Currently, Ola Electric shares are trading at Rs 113 per share. The brokerage firm expects Ola Electric’s revenue to increase by over 40% from FY24 to FY27. In contrast, TVS Motor, Bajaj Auto, and Hero MotoCorp are projected to grow by 16%, 19%, and 10%, respectively. As per the report, Ola Electric’s products are approximately 18% cheaper on a running cost basis when compared to its EV peers. Ola Electric’s market share rose from 21% in FY23 to 35% in FY24, and further to 49% in Q1 FY25, according to Jefferies. However, the share dropped to 39% in July and 32% in August. In August, TVS and Bajaj each held a 19% market share, while Ather Energy had a 12% share. The competition in the EV sector is expected to intensify as Ola Electric prepares to launch its motorcycle and electric three-wheeler (e-rickshaw) in the coming months. Meanwhile, Ather Energy, which is also gearing up for a public listing, has announced plans to begin manufacturing motorcycles as well.

Bhavish Aggarwal sells 2% of his Ola Electric holding for Rs 92 Cr

EntrackrEntrackr · 6d ago
Bhavish Aggarwal sells 2% of his Ola Electric holding for Rs 92 Cr
Medial

Bhavish Aggarwal sells 2% of his Ola Electric holding for Rs 92 Cr Ola Electric founder and CEO Bhavish Aggarwal has sold a small portion of his stake in the company through a bulk deal on the stock exchange. According to exchange disclosures, Aggarwal sold 2,62,56,748 shares, representing around 2% of his existing shareholding, at a price of Rs 34.99 per share. The transaction was valued at nearly Rs 92 crore. Aggarwal had also pledged an additional portion of his shares this month. Exchange filings show that a 3.04% stake was pledged on December 5, aggregating his total pledged shareholding to 13.3% prior to the sale. After this transaction, the company’s statement said Aggarwal undertook a one-time, limited monetisation of a small portion of his personal stake to fully repay a promoter level loan of Rs 260 crore. This will result in the release of all previously pledged 3.93% shares, removing a key overhang. “This action is taken to eliminate all promoter pledges, which can introduce avoidable risk and volatility. It is part of the founder's conviction that Ola Electric should operate with zero pledge overhang, and he should fully unwind the leverage,” the company added through the release. Prior to the transaction, Aggarwal held 1,323,960,029 shares in Ola Electric, translating to a 30.02% stake in the company. Following the sale, his shareholding has come down to 1,29,77,03,281 shares, or about 29.4%. In terms of EV sales, Ola slipped to fourth position for November with its market share shrinking to 7.19%, a stunning reversal from the top spot it held during the same month a year earlier. The company also registered a harsh 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of the ongoing fiscal year FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore. Ola Electric’s stock touched its lowest level ever earlier this month, representing a 70% erosion in value within just twelve months. It was at its peak as the firm stock hit an all-time high of Rs 100.40 on Dec 17, 2024. As of December 16, Ola Electric’s shares were trading at Rs 34.20 apiece, giving the company a market capitalization of Rs 15,085 crore ($1.6 billion).

Ola Electric's two-wheeler market share falls to 27% in September

EntrackrEntrackr · 1y ago
Ola Electric's two-wheeler market share falls to 27% in September
Medial

Ola Electric, an electric two-wheeler manufacturer, has seen a decline in its market share over the past three months. The Bengaluru-based company’s market share dropped to 27% in September, down from 32% in August and 39% in the previous month. Ola Electric achieved its highest market share during Q1 FY25 (June quarter), reaching a milestone of 49%. As per Vahan data, Ola Electric sold 23,965 units in September compared to 26,928 units in August and 40, 814 units in July. The Bhavish Aggarwal-led firm also hit an 11-month low of 23,965 units. Baja Auto, TVS Motors, Ather Energy and Hero MotoCorp were the next on the list with 21.27%, 20.26%, 14% and 5% market shares, respectively. This drop in market share follows a report from Goldman Sachs, which projected that Ola Electric is expected to reach EBITDA breakeven by the fiscal year ending March 2027. The decline in sales can be attributed to several factors, including customer complaints, malfunctioning hardware, and software glitches, among others. According to a recent report, Ola Electric received approximately 80,000 customer complaints per month. For the June quarter (Q1FY25), Ola Electric’s revenue from operations grew only 2.8% to Rs 1,644 crore in Q1 FY25 from Rs 1,598 crore in Q4 FY24. The company, however, managed to control its losses by 16.6% to Rs 347 crore in Q1 FY25. During the last fiscal year (FY24), it reported Rs 5,010 crore revenue and Rs 1,584 core loss. Ola Electric, which was listed on the stock exchange in early August, saw its share price drop below Rs 100 on Monday for the first time since its listing. Currently, its shares are trading at around Rs 102 each. The initial public offering (IPO) was priced at Rs 76 per share.

Ola Electric’s 2W market share declines to 24.5% in November

EntrackrEntrackr · 1y ago
Ola Electric’s 2W market share declines to 24.5% in November
Medial

India's electric two-wheeler market recorded a 29% year-on-year growth in November, with total sales exceeding 118,000 units. However, on a month-on-month basis, the segment registered a nearly 15% decline compared to October, according to Vahan data. Ola Electric retained its position as the market leader with 29,191 units sold, which accounted for 24.54% of the EV two-wheeler market. The Bhavish Aggarwal-led company’s market share has seen fluctuations over the past six months. In October, its market share rose to 30% from 27% in September. However, this remains lower than its earlier shares, which were 32% in August, 39% in July, and a peak of 49% in June. TVS Motor and Bajaj Auto remained in close competition in November with sales of 28,200 and 27,400 units, respectively. The two companies also closed the gap with Ola Electric, capturing 23% and 22% of the market share, respectively. Ola Electric’s arch rival Ather Energy secured the fourth position with 15,800 units, while Hero MotoCorp's electric division recorded 3,300 units. Ather, which is also on the verge of listing on the stock exchange, controls 11% share in EV two wheelers space. Similar to its performance in the EV two-wheeler market, Ola Electric’s share price has also seen fluctuations in recent months. In November, its shares were trading at Rs 72.72, nearly 54% lower than their peak of Rs 157.53 in mid-August. However, last week, the stock surged by nearly 30% following the announcement of a new scooter range. This new range, designed primarily for commercial use in commerce and deliveries, is expected to boost the company’s sales in the coming months. In Q2, Ola Electric recorded a 26% decline in its operating revenue to Rs 1,214 crore when compared to Rs 1,644 crore in Q1 FY25. However, the firm registered 39% year-on-year increase in revenue from Rs 873 crore in Q2 FY24. The company posted a net loss of Rs 495 crore during the September quarter.

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