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

EntrackrEntrackr · 4m 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).

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

EntrackrEntrackr · 6m ago
Z47 stake in Ola Electric falls below 2% after recent partial exit
Medial

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.

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.

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.

Ola Electric’s E2W market share slumps to under 6% in Jan 2026 from 24.8% a year ago

EntrackrEntrackr · 8d ago
Ola Electric’s E2W market share slumps to under 6% in Jan 2026 from 24.8% a year ago
Medial

Ola Electric’s E2W market share slumps to under 6% in Jan 2026 from 24.8% a year ago The Indian electric two wheeler market has seen significant shifts, particularly for Bhavish Aggarwal led Ola Electric, which was once the dominant player with over 35% market share at the end of 2024 but has since slipped to under 6%. Ola Electric’s overall market share since January 2025 accounted for 14.9%, translating to about 2.04 lakh units. This represents a sharp decline from 2024, when Ola Electric recorded 4.07 lakh registrations and commanded a 35.47% market share. According to Vahan data, as of January 2025, Ola Electric led the electric two wheeler market with a 24.8% share, closely followed by legacy players TVS Motor and Bajaj Auto at 24.41% and 21.81%, respectively. Ather Energy ranked fourth with a 13.31% share, followed by Greaves Electric Mobility and Hero MotoCorp. Following January 2025, Ola Electric’s market share began to decline amid controversies over persistent customer complaints, including reports of defects, safety concerns, and weaknesses in service and after-sales support. In February 2025, its market share slipped to 11.31%. However, the company saw a partial recovery during the year, with its share improving to 21.42% in April and remaining relatively consistent for the following few months. Since September 2025, the company’s sales and market share have steadily declined. In November, its market share fell to 7.16%, and by January 2026 it dropped to a new low of 5.87%, with just 5,488 registrations. On the other hand, rival Ather Energy recorded a 72% jump in sales, rising from 1.26 lakh units in 2024 to 2.18 lakh units in 2025. Its market share increased from 13.31% in January 2025 to 18.16% in January 2026. After overtaking Ola Electric in market capitalization, Ather also surpassed it in Q2 FY26 revenue, posting Rs 899 crore. Ather’s current market capitalization stands at Rs 23,712 crore, or about $2.63 billion. Legacy players such as TVS Motor and Bajaj Auto have remained consistent in sales throughout the year and continued to dominate the market. Between January 2025 and January 2026, they held overall market shares of 23.75% and 21.05%, with registrations of 3.26 lakh and 2.89 lakh units, respectively. Ola Electric’s downturn has also been reflected in its stock market performance, with the share price hitting an all-time low of Rs 30.79 today, sharply down from its listing price of Rs 75. Notably, within a few weeks of its August 2024 listing, the stock had surged to around Rs 150. The company’s current market capitalization stands at Rs 14,115 crore, or about $1.56 billion.

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.

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