Ola Electric extends losing streak; shares still 52% above July low

The stock has shed 12.92% over the two sessions but remains 51.72% above its record low of Rs 39.58 hit on 14 July 2025. It touched a recent high of Rs 68.96 on 3 September 2025.

The latest slump comes after Masayoshi Son-led SoftBank Group pared its stake in the company. According to a regulatory filing, SoftBank's investment arm SVF II Ostrich (DE) LLC sold 9.49 crore equity shares, representing 2.15% of Ola Electric's equity, between July 15 and September 2. The sale crossed the 2% threshold requiring disclosure under SEBI's takeover regulations.

Prior to the transaction, SoftBank held 78.66 crore shares or 17.83% of the company's paid-up capital. Post-sale, its stake stands at 69.16 crore shares or 15.68%. Despite the dilution, SoftBank remains one of the largest institutional shareholders in Ola Electric, having been an early backer with multiple investments before the IPO.

The stock had earlier gained momentum after Ola secured compliance certification under the government's Production Linked Incentive (PLI) scheme for its Gen 3 electric scooters. The Automotive Research Association of India (ARAI), under the Ministry of Heavy Industries, granted certification covering all seven Ola S1 Gen 3 models, making Ola's entire Gen 2 and Gen 3 range PLI-certified.

The Gen 3 scooters account for most of the company's sales, and the certification is expected to materially improve profitability from Q2 FY26. Under the scheme, Ola Electric will be eligible for incentives ranging between 13% and 18% of determined sales value until 2028.

At its annual 'Sankalp' event, the company also unveiled new models ' S1 Pro Sport (5.2 kWh and 4 kWh), S1 Pro+ (5.2 kWh), and Roadster X+ (9.1 kWh) powered by the 4680 Bharat Cell ' with prices starting at Rs 1,49,999. Deliveries for S1 Pro Sport will begin in January 2026, while the others will roll out during Navratri this year.

Separately, at its first AGM since listing, Ola Electric secured shareholder approval to reallocate IPO proceeds and extend deployment timelines. The resolution was passed with 99.08% votes in favour.

Ola Electric Mobility is India's leading electric vehicle (EV) manufacturer. It specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. Ola maintains a direct-to-customer distribution network and an online presence.

The company's consolidated net loss narrowed to Rs 428 crore in Q1 FY26 as against net loss of Rs 870 crore in Q4 FY25. Revenue from operations jumped 35.52% QoQ to Rs 828 crore in Q1 FY26.

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