Ola Electric shares tumble 7% as SoftBank entity cuts stake

Shares of Ola Electric Mobility Ltd plunged 7.63 per cent to hit an intraday low of Rs 63.70 on Thursday. The stock eventually settled 6.52 per cent lower at Rs 64.49. Despite the decline, it has gained 57.87 per cent in a month.

Today's fall came after SVF II Ostrich (DE) LLC, a SoftBank entity, offloaded a portion of its holding in the company. In a disclosure, the shareholder said it had disposed of 94,943,459 equity shares of Ola Electric between July 15, 2025, and September 2, 2025.

The September 2 transaction breached the 2 per cent threshold specified under Regulation 29(2) of Sebi's Takeover Regulations. As of June 2025, SVF II Ostrich held a 17.83 per cent stake in the company, according to BSE data.

The Bhavish Aggarwal-led firm recently received certification for compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) scheme for its Gen 3 scooter portfolio.

The company also unveiled its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual 'Sankalp' event held at the Gigafactory in Tamil Nadu.

Drumil Vithlani, Technical Research Analyst at Bonanza, noted, "Ola Electric has posted a strong breakout after a long consolidation, closing above the Rs 52–55 resistance zone with high volumes. The pattern indicates dips may attract buying. As long as the stock holds above Rs 55, short-term targets are Rs 68–72, with scope to extend towards Rs 78 if momentum continues. A strict stop loss below Rs 55 on a closing basis is recommended."

Founded in 2017, Ola Electric manufactures electric two-wheelers and key components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the Bengaluru-based company.