Ola Electric’s shares have been under heavy pressure this week, sliding to a new 52‑week low as investors reacted nervously to promoter share sales. On Thursday, the stock fell about 5 per cent intraday to around Rs 30.76 on the NSE, marking its weakest level since listing and extending a sharp downtrend through 2025.
Market data show that Ola Electric is now down about 60–66 per cent this year and trading more than 55 per cent below its IPO price of Rs 76 per share.
The immediate trigger for the latest slide has been bulk deals involving founder‑promoter Bhavish Aggarwal.
In regulatory statements to the stock exchanges on December 16 and 18, Ola Electric said the founder had undertaken a “one‑time, limited monetisation of a small portion of his personal stake to fully repay a promoter-level loan amounting to Rs 260 crore.” The company added that “all of the previously pledged 3.93 per cent shares will be released, removing a critical overhang” and that the move was meant to ensure Ola Electric operates with “zero pledge overhang”.
A follow‑up statement confirmed that, after completing the transactions, “the promoter group continues to hold 34.6 per cent in Ola Electric, with no dilution of promoter control or change in long‑term commitment”.
However, the reassurance has not stopped the sell‑off. Over two days, more than 6.8 crore shares changed hands in promoter stake sales worth over Rs 230 crore, which “unsettled the market and triggered fresh selling pressure”.
The stock has fallen more than 12 per cent over the last five trading sessions and more than 20 per cent in a month, even as broader indices remained largely stable. Analysts point to a mix of concerns weighing on sentiment: sustained losses, intensifying competition in the electric two-wheeler market, recent drops in monthly registrations and worries over governance and promoter‑level leverage.
Despite the fall, the company has stressed in its exchange filings that the share sale is “executed entirely at the promoter’s personal level and would have no impact on Ola Electric’s operations, governance, or strategic direction”, reiterating its focus on building a “globally competitive, India‑first electric mobility and clean energy company”.