Mumbai, Dec 18 : Shares of Ola Electric tumbled 4.5% to Rs 31.42 on December 18, hitting a fresh record low and extending a three-day losing streak to 16%. The decline follows CEO Bhavish Aggarwal’s sale of shares worth Rs 233 crore over two days, marking a significant offloading of his personal stake in the electric vehicle maker.
On December 17, Aggarwal sold 4.2 million shares valued at Rs 142 crore, following a previous sale of 2.6 million shares worth Rs 91 crore on December 16 through a bulk deal. Ola Electric clarified that these transactions were part of a one time, limited monetisation by the founder to fully repay a promoter level loan of Rs 260 crore.
Post sale, the promoter group will continue to hold around 34%, with no dilution of promoter control or changes to governance. Aggarwal emphasised that the move eliminates promoter pledges, reducing potential risks and market volatility, and has no impact on Ola Electric’s operations or strategic direction.
The stock has struggled throughout 2025, plunging 63% from earlier highs. The company currently has a market capitalisation of Rs 14,500 crore, down from a peak valuation of over Rs 69,000 crore.
Investors are keeping a close eye on the stock amid ongoing volatility, interpreting the promoter’s stake sale as a strategic debt repayment move rather than a signal of operational concern.