Bhavish Aggarwal sells Ola Electric shares via bulk deal to repay Rs 260-crore promoter loan

Bhavish Aggarwal, Founder, Ola Electric

Bhavish Aggarwal, co-founder of Ola Electric Mobility Ltd, sold 2.6 crore shares of the company through a bulk deal on Tuesday, December 16, paring his stake marginally, shows exchange filings.

The shares, representing about 0.6 percent equity in Ola Electric, were sold at an average price of Rs 34.99 apiece, taking the total transaction value to roughly Rs 92 crore, according to exchange data. As of September 2025, Aggarwal held a 30.02 percent stake in the electric two-wheeler maker.

In a statement, Ola Electric said the transaction was a one-time, limited monetisation by the founder at a personal level to fully repay a promoter-level loan of Rs 260 crore.

Following the sale, all previously pledged shares, amounting to 3.93 percent, will be released, removing what the company described as a key overhang.

The promoter group will continue to hold around 34 percent stake in Ola Electric, among the highest across new-age listed companies, the company said, adding that there is no dilution of promoter control or change in long-term conviction.

The stake sale comes at a time when Ola Electric is grappling with pressure on its top line, even as it reports some improvement in profitability metrics.

In its latest financial results for the September quarter (Q2 FY26), the company reported net sales of Rs 690 crore, a sharp 43 percent decline compared with the same period last year.

At the same time, losses narrowed on a year-on-year basis. Ola Electric posted a net loss of Rs 418 crore for the quarter, compared with a loss of Rs 495 crore a year earlier. The company also reported an improvement in EBITDA margins in its auto segment, indicating better operating efficiency.