Ola Electric Shares Hit Record Low as Bhavish Aggarwal Extends Stake Sale
Bhavish Aggarwal, founder and promoter of Ola Electric Mobility, continued selling shares for the third consecutive session on December 18, deepening pressure on the stock. Over three days, Aggarwal offloaded around 2.18% stake worth ₹324 crore, exceeding the stated requirement of ₹260 crore for repaying a promoter-level loan. Persistent promoter selling kept Ola Electric shares under pressure, with the stock sliding 5% to an all-time closing low of ₹31.26, accompanied by high volumes. The stock has now crashed nearly 80% from its peak of ₹157.4 recorded in August last year. The company’s market capitalisation has fallen sharply to ₹13,797 crore, compared with nearly ₹69,000 crore at peak levels. On Thursday alone, Aggarwal sold 2.83 crore shares (0.64%) for ₹90.3 crore at an average price of ₹31.9 per share. This follows stake sales of 0.95% worth ₹142.3 crore on Wednesday and 0.59% worth ₹91.87 crore on Tuesday. As of September 2025, promoters held 36.78% stake in Ola Electric, with 8.25% encumbered. Aggarwal has clarified that the stake sale was a one-time monetisation aimed at fully repaying debt and eliminating promoter pledges, stating his intent to operate the company with zero pledge overhang. Hashtags #OlaElectric #BhavishAggarwal #EVStocks #StockMarketIndia #PromoterSelling #MarketCap #NSE #BSE #InvestorAlert