Ola Electric Mobility founder Bhavish Aggarwal sells 4.2 crore additional shares

Bhavish Aggarwal, founder of Ola Electric Mobility Ltd, sold an additional 4.2 crore shares on Wednesday (December 17), following the sale of 2.6 crore shares on Tuesday.

Ola Electric had earlier stated that the transactions were being executed to fully repay a promoter-level loan of ₹260 crore. The two transactions conducted so far have a combined valuation of ₹234 crore.

Company sources confirmed that the share sale was structured in multiple tranches rather than a single block. The second tranche of the transaction was executed on Tuesday, and the remaining shares will be sold in due course.

Also Read: Ola Electric shares fell in every quarter but one since its listing, but total retail shareholders did not

However, Ola Electric yesterday said that this share sale represents a one-time, limited monetisation of the founder's personal stake to fully settle the loan. With the completion of these transactions, all previously pledged 3.93% shares will be released, removing a critical overhang on the stock.

At the end of the September 2024 quarter, Ola Electric Mobility had a total of 14.1 lakh small retail shareholders, or those with authorised share capital of up to ₹2 lakh, who had a 8% stake in the company. At the end of the September 2025 quarter, there were a total of 19 lakh retail shareholders, who own a 17.3% stake in Ola Electric.

After trimming their stake for four quarters in a row, India's Domestic Mutual Funds increased their stake in Ola Electric during the September quarter. As of September 30, Mutual Funds had a 5.51% stake in Ola Electric, with Motilal Oswal Large and Midcap Fund having a 2.4% stake, and Mirae Asset Large & Midcap Fund having a 1.86% stake.

Shares of Ola Electric Mobility Ltd ended at ₹32.80, down by ₹1.68, or 4.87%, on the BSE.

Also Read: Ola Electric shares surge 8%; S&P Global flags of issues at promoter entity