Aggarwal sold the shares in two tranches. On December 16, he offloaded 2.62 crore shares, or about 0.6% equity, at an average price of Rs 34.99 per share, raising around Rs 92 crore. This was followed by the sale of 4.19 crore shares on December 17 at an average price of Rs 33.96 per share, fetching about Rs 142.3 crore. In total, the transactions accounted for over 1.5% of Ola Electric’s equity.
The stock hit a record low of Rs 31.11 today. At current levels, Ola Electric shares are down 68.63% from their 52-week high of Rs 99.90 touched on 26 December 2024.
In a statement, Ola Electric said the sale was a one-time and limited monetisation by the founder at a personal level to fully repay a promoter-level loan of Rs 260 crore. The repayment will lead to the release of all previously pledged 3.93% shares, removing a key overhang on the stock.
The company clarified that the transaction does not involve any dilution of promoter control. Post the sale, the promoter group is expected to continue holding around 34% stake in Ola Electric. The company added that the move will have no impact on operations, governance or long-term strategy, and that it reflects the founder’s intent to run the business with zero promoter pledge.
Ola Electric Mobility is a leading Indian electric vehicle (EV) manufacturer engaged in the integrated development of EV technology and components, including battery cells. Its manufacturing facility, the Ola Futurefactory in Tamil Nadu, produces EVs and key components and is positioned as one of India’s major EV hubs.
The company recently forayed into India’s Rs 1 lakh crore Battery Energy Storage Systems (BESS) market with the launch of “Ola Shakti”, its first residential energy storage product.
On a consolidated basis, Ola Electric Mobility reported net loss of Rs 418 crore in Q2 September 2025 as against net loss of Rs 495 crore in Q2 September 2024. Net sales declined 43.16% YoY to Rs 690 crore in Q2 September 2025.