Ola Electric shares rose 10% in early trade on Friday after the company clarified that its promoter has completed a one-time, limited monetisation of a small portion of his personal shareholding. The stock opened at ₹32.01 on the NSE and touched an intraday high of ₹34.38.
Why the Promoter Sold 96 Million Shares
On Thursday, Ola Electric founder Bhavish Aggarwal sold another 28.3 million shares, taking the total share sales over the past three trading sessions to more than 96 million shares and aggregate proceeds to around ₹325 crore.
In a statement, the company said the promoter has completed the one-time, limited monetisation of a small part of his personal stake. “The transaction was undertaken solely to fully repay a promoter-level loan of approximately ₹260 crore and to release all 3.93% of shares that were previously pledged, thereby eliminating all promoter pledges,” it said.
Ola Electric shares had hit a lifetime low of ₹30.76 on Thursday after Aggarwal continued to offload shares for the third consecutive session. Aggarwal raised about ₹90 crore by selling 28.3 million shares in a bulk deal at an average price of ₹31.90 per share on Thursday. This followed a sale of 41.9 million shares in the open market on Wednesday at ₹33.96 apiece, raising around ₹142 crore, and a sale of 26 million shares through a bulk deal on Tuesday at ₹34.99 per share to raise ₹92 crore. All the transactions were executed at prices that were less than half of the IPO listing price of ₹76.
Impact on Promoter Holding and Control
Following these transactions, the promoter group continues to hold a 34.6% stake in Ola Electric, with the company stating that there has been no dilution of promoter control or any change in long-term commitment. “This was a planned, time-bound exercise executed entirely at the promoter’s personal level and has no impact on the company’s performance, operations, or strategic direction,” the company said.
As of September 2025, Aggarwal held a 30.02% stake in Ola Electric, equivalent to more than 1.32 billion equity shares.