Ola Electric founder Bhavish Aggarwal on Tuesday sold 26 million shares, representing a 0.6% stake in the company, through a bulk deal. The shares were sold at an average price of ₹34.99 per share, taking the total transaction value to about ₹92 crore. As of September 2025, Aggarwal held a 30.02% stake in Ola Electric, equivalent to a holding of over 1.32 billion equity shares.
Ola Electric shares take a tumble
Shares of Ola Electric ended Tuesday’s session down 8.5% at ₹34.20 on the NSE. The electric two-wheeler maker’s stock has been under sustained pressure over the past few months amid weakening sales and market-share losses to rivals such as TVS Motor, Bajaj Auto and Ather Energy. The stock is currently trading about 55% below its listing price of ₹76 and nearly 66% lower than its 52-week high of ₹102.50 recorded in December 2024. On December 9, the scrip touched its 52-week low of ₹33.20.
Impact on market cap
The sharp decline in the share price has also significantly eroded the company’s market capitalisation, which stood at ₹15,085.04 crore as of Tuesday, compared with a valuation close to ₹60,000 crore shortly after its listing in August 2024. At Tuesday’s closing price, the value of Aggarwal’s holding fell to around ₹4,400 crore, compared with about ₹12,420 crore earlier, reflecting the steep fall in the stock.