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

Entrackr · 2h ago

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.