The shares of Ola Electric Mobility tumbled nearly 8 percent on September 5 after SoftBank offloaded 2 percent stake in the EV scooter-maker through open market transactions in less than two months, reducing its shareholding in the company to 15.68 percent.
According to a regulatory filing, SoftBank's investment arm SVF II Ostrich (DE) LLC disposed 94.9 million equity shares of Ola Electric between July 15 and September 2 this year. The sale crossed the 2 percent threshold mandated for disclosure under SEBI’s takeover regulations.
Prior to the transaction, SoftBank held 786.6 million shares, representing 17.83 percent of the company’s paid-up capital. Post the sale, its holding stands at 691.6 million shares or 15.68 percent.
SoftBank has been an early backer of Ola Electric, investing in multiple funding rounds before its IPO. The Japanese investment giant remains among the largest institutional shareholders in the company even after the latest stake dilution.
Goldman Sachs maintains 'Buy' call on Ola Electric, raises target price
Goldman Sachs has maintained its 'Buy' rating on Ola Electric shares and raised its price target to Rs 72 apiece, according to CNBC-TV18. This implies an upside potential of nearly 12 percent from the stock's previous closing price of Rs 64.50 apiece.
Ola Electric shares tumbled more than 8 percent to trade at Rs 59.32 apiece. The stock has now fallen more than 14 percent in two consecutive sessions. This came after nearly 80 percent rally in nearly three weeks, buoyed by multiple factors.
The shares had debuted flat at the IPO price of Rs 76 apiece in August 2024, but surged significantly on the debut day itself. It rallied as much as 63 percent in nearly a month after debut to hit a 52-week high of Rs 123.9 apiece in September 2024. The stock then plunged 68 percent to hit a low of Rs 39.6 apiece in July this year. The stock has now made significant recovery, nearing its IPO price.
Ola Electric, which has been grappling with cooling demand and intensifying competition, overtook Bajaj Auto to reclaim the number two position, according to data from the government's VAHAN registration portal as on August 31, 2025. The Bengaluru-based startup sold 18,972 units in August, though its sales were down 31 percent from a year earlier.
In an exchange filing released on August 26, the company said, "Ola Electric, India’s largest pure-play EV company, today announced that it has received Certification for Compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) Scheme for automobile and auto components sector, for its Gen 3 scooter portfolio. This certification was granted by the Automotive Research Association of India (ARAI) under the aegis of the Ministry of Heavy Industries, Government of India to all of the seven Ola S1 Gen 3 scooters."
The EV-bike maker said its Gen 2 and Gen 3 scooter portfolio are now PLI-certified. Its Gen 3 portfolio, which comprises S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh, comprises majority of its current sales. As a result, this certification is set to significantly enhance its profitability from Q2FY26 onwards, the company said.
The PLI certification makes Ola Electric eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) until 2028, it added.
Also read: Our LIVE blog on stock market updates
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
