Shares of Ola Electric Mobility were trading near their 52-week low on Wednesday after founder and CEO Bhavish Aggarwal sold around 2.6 crore shares in a bulk deal, adding pressure to an already weak stock.

In early trade, Ola Electric shares were hovering around ₹34.17, down nearly 1%, and close to the stock’s one-year low of about ₹33. The company’s shares have declined over 19% in the past month and are down roughly 41% over the last three months, reflecting sustained selling pressure.

Why Bhavish Aggarwal sold shares

According to an exchange filing, Aggarwal described the transaction as a one-time monetisation of a small part of his personal holding. The primary purpose of the sale was to fully repay a promoter-level loan of ₹260 crore.

Following the repayment, all previously pledged shares—about 3.93% of the total—will be released, removing a key concern that had been weighing on investor sentiment.

Company clarifies impact

Ola Electric said the transaction was carried out entirely at the promoter’s personal level and does not affect the company’s operations, governance, or long-term strategy. The firm also clarified that there is no dilution of promoter control.

Even after the sale, the promoter group will continue to hold close to 34% stake in Ola Electric, one of the higher promoter holdings among recently listed technology companies.

Market reaction

While the move addresses concerns around pledged shares, the stock continues to face broader market pressure. Investors remain cautious as Ola Electric navigates a challenging phase in the public markets, with the share price still under strain despite the clarification.

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