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Japan's SoftBank sells 2.15% stake in Ola Electric, cuts holding to 15.68% - The Economic Times

Economic Times

Economic Times · 25d ago

Japan's SoftBank sells 2.15% stake in Ola Electric, cuts holding to 15.68% - The Economic Times

SoftBank Group sold a 2.15% stake in Ola Electric over two months, reducing ownership to 15.68% from 17.83%. Despite the sale and a GST cut on traditional two-wheelers causing a 7% share price drop, Ola Electric shares have surged recently, boosted by government incentives and PLI scheme approval. The Automotive Research Association of India cleared Ola’s Gen 3 S1 scooter range, making the company eligible for significant sales incentives through 2028.

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Ola Electric early investors Z47, Tiger Global pare stakes - The Economic Times

Economic Times

Economic Times · 1m ago

Ola Electric early investors Z47, Tiger Global pare stakes - The Economic Times

Two early investors, Z47 and Tiger Global Management, have reduced their stakes in Ola Electric Mobility. Z47, formerly Matrix Partners India, sold less than 1% of its stake, earning Rs 187 crore, now holding shares worth Rs 347 crore. Tiger Global reduced its stake to 3.24%, valued at Rs 585 crore. Ola Electric's revenue halved and losses widened amid fierce competition, prompting a strategic shift towards profitability, according to founder Bhavish Aggarwal.

Ola Electric to cut jobs; Softbank may offload more stake in Paytm

VCCircle

VCCircle · 1y ago

Ola Electric to cut jobs; Softbank may offload more stake in Paytm

Ola Electric is reportedly planning to lay off 400-500 employees in an effort to reduce operating costs before its IPO. The final number of job cuts may vary. Meanwhile, SoftBank is considering offloading more stake in Paytm, possibly leading to a reduction in its shareholding. No further details were provided in the summary.

SoftBank to exit Ola Electric in thoughtful, gradual way: Juneja

Inshorts · 10m ago

SoftBank to exit Ola Electric in thoughtful, gradual way: Juneja

SoftBank executive Sumer Juneja said the Japanese investment company will make a "thoughtful and gradual exit" from Bhavish Aggarwal-led Ola Electric. "We are in no hurry to exit," he said. SoftBank had invested ₹2,800 crore in the electric bike-maker. As of September 2024, it holds a 17.83% stake in Ola Electric.

Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion

Economic Times

Economic Times · 1y ago

Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion

SoftBank's stakes in Ola Electric, FirstCry, and Unicommerce have soared in value to nearly $2 billion, thanks to their post-listing gains. SoftBank has already realized around $400 million in secondary stake sales. The firm's investments in FirstCry and Ola Electric have paid off, with FirstCry's market capitalization exceeding Rs 35,000 crore, and Ola Electric's shares surging 71% since its listing. SoftBank's stake in FirstCry is now valued at over Rs 7,000 crore, while its stake in Ola Electric is worth more than Rs 8,500 crore. The investor has fully exited its holdings in Paytm, Zomato, Policybazaar, and Delhivery.

Ola Electric showcases Bharat cell, rare earth-free motor at ‘Sankalp’ - The Economic Times

Economic Times

Economic Times · 1m ago

Ola Electric showcases Bharat cell, rare earth-free motor at ‘Sankalp’ - The Economic Times

Ola Electric unveiled its first in-house 4680 Bharat cell battery and a rare earth-free motor at its Gigafactory in Tamil Nadu. The S1 Pro+ scooter, featuring the new technology, offers a 501 km range and a reduced price. Ola also launched MoveOS 6, enhancing operational features and efficiency. Upcoming products include the S1 Pro Spot scooter and an electric bike by 2027. Ola is focusing on technology innovation to regain its electric vehicle market share.

Z47 stake in Ola Electric falls below 2% after recent partial exit

Entrackr

Entrackr · 1m ago

Z47 stake in Ola Electric falls below 2% after recent partial exit

Z47 stake in Ola Electric falls below 2% after recent partial exit Ola Electric’s early backers, Z47 (formerly Matrix Partners India) and Tiger Global Management, have trimmed their stakes in the Bengaluru-based company during the April–June 2025 quarter, as per stock exchange disclosures filed for the period. Z47 reduced its holding from 2.72% to 1.93%, a cut of approximately 0.81 percentage points. Based on an average share price of Rs 41, the VC firm is estimated to have earned around Rs 147–150 crore from the sale. Tiger Global also marginally reduced its stake from 3.45% to 3.24%, with an estimated Rs 39–45 crore. Its remaining stake, held via Internet Fund III, is currently valued at Rs 587 crore. The reduction in its stake in Ola Electric comes as Z47 actively explores secondary stake sales in other portfolio companies, including OfBusiness, Razorpay, and Dailyhunt’s parent VerSe. Despite the partial exits, both Z47 and Tiger Global remain on Ola Electric’s cap table with meaningful minority stakes. SoftBank, AlphaWave, Temasek, and Citigroup are some notable investors in the EV firm. Ola Electric’s revenue continues its downward spiral with yet another sharp drop in the latest quarter. Its revenue from operations decreased by 49.6% to Rs 824 crore in Q1 FY26, compared to Rs 1,644 crore in Q1 FY25. Its grew 23.3% year-on-year to Rs 428 crore during the same period. The company is currently trading at Rs 40.7 per share (as on 02 PM) with a total market capitalization of Rs 17,925 crore ($2.1 billion). Ola Electric also slipped to the third spot in July with 17,848 registrations, down 57% YoY, as its market share fell to 17.35%. Meanwhile, Ather Energy narrowed the gap with 16,231 units and a 15.78% share. The dip adds to Ola Electric’s mounting challenges as rivals like TVS and Bajaj consolidate their positions at the top.

Paytm sells ₹2,364 crore stake in Japan's PayPay to SoftBank

Inshorts · 9m ago

Paytm sells ₹2,364 crore stake in Japan's PayPay to SoftBank

Paytm's subsidiary One97 Communications Singapore Pvt Ltd has completed the sale of a 5.4% stake in Japan's digital payment company PayPay. The Paytm unit sold the stake to SoftBank Vision Fund 2 for ₹2,364 crore. The sale is part of Paytm's efforts to offload non-core assets and focus on the core payments solutions business.

Ola Electric’s FY23 net loss almost doubles, revenue jumps but misses target

VCCircle

VCCircle · 1y ago

Ola Electric’s FY23 net loss almost doubles, revenue jumps but misses target

Ola Electric, the electric scooter maker backed by SoftBank, experienced a significant increase in net loss for the financial year ended in March 2023. However, the company did not meet its revenue target for the same period. Despite these challenges, Ola Electric is preparing for an upcoming initial public offering in the following year.

Ecomm orders shoot up as annual sale events open - The Economic Times

Economic Times

Economic Times · 6d ago

Ecomm orders shoot up as annual sale events open - The Economic Times

Amazon and Flipkart launched their festive sales for loyalty users, seeing over 20% growth in demand on the first day despite it being a Monday. The recent GST cuts helped boost shopper sentiment, with many customers holding off purchases earlier in anticipation of lower prices, leading to strong initial traction.

Ola Electric to bring new software for two-wheelers - The Economic Times

Economic Times

Economic Times · 1m ago

Ola Electric to bring new software for two-wheelers - The Economic Times

Ola Electric plans to introduce MoveOS 6 software for its electric two-wheelers, incorporating AI features like an AI chatbot and voice assistant powered by Ola Krutrim. The announcement will occur during their annual 'Sankalp 2025' event at the Gigafactory in Tamil Nadu. The new software is expected to enhance convenience, safety, and security, continuing improvements from last year's MoveOS 5. A teaser video also highlights the upcoming Diamondhead motorcycle project.

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