Promoter Bhavish Aggarwal on Tuesday sold over 2.6 crore shares of Ola Electric Mobility through a bulk deal. The shares were offloaded at Rs 34.99 apiece, valuing the transaction at around Rs 92 crore.

Aggarwal’s stake in the electric two-wheeler maker stood at 30.02% as of September 30, 2025, translating into a holding of over 132 crore equity shares.

Today, the Ola Electric shares ended with declines of 8.5% at Rs 34.20 on the NSE. On December 9, the scrip hit its 52-week low of Rs 33.20.

With today’s fall, the gap between its current market price and the IPO issue price of Rs 76 has widened to 55%.

It hit a high of Rs 102.50 in December last year and since then, it has been a downhill.

Also Read: EV poster boy Ola’s 64% crash is worst among peers – stock now half its IPO price. Is the selloff over yet?

The Rs 6,146 crore IPO witnessed a lackluster debut, listing flat on the BSE and NSE. The issue was oversubscribed 4.45 times with the retail quota getting booked over 4 times.The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 45.5 and Rs 48.9. The fall has come amid significant volatility with one year beta of 1.5, according to Trendlyne data.

Once the poster boy of India’s electric vehicle push, Ola is now facing mounting challenges, marked by shrinking market share and persistent earnings pressure.

The company slipped to fifth place in October, falling behind Bajaj, TVS, Hero and key rival Ather. In November, sales dipped below 10,000 units, sliding to about 8,400.

Financial performance has remained under strain, with the company reporting consecutive quarterly losses. Consolidated net loss for the September quarter stood at Rs 418 crore, narrower than the Rs 495 crore loss a year ago, but revenue plunged 43% year-on-year to Rs 756 crore.