Overview
- Bhavish Aggarwal sold 2.62 crore shares at Rs 34.99 on Dec 16 and 4.19 crore at Rs 33.96 on Dec 17, totaling roughly 6.8 crore shares worth over Rs 230 crore.
- The stock slid nearly 4% on Dec 18 to new record lows around Rs 31.5, extending a multi-session decline despite the company’s clarification on the purpose of the sales.
- Ola Electric said promoter-group ownership will remain near 34% following the transactions, with no dilution of control or impact on operations and strategy.
- The pledge release removes a key overhang that had arisen from shares used to secure funding for Aggarwal’s AI venture Krutrim, which analysts say reduces margin-call risk.
- Market commentary highlights persistent business pressures, with Q2 FY26 revenue at about Rs 690 crore, down roughly 43% year-on-year, and declining EV volumes and market share.