Japan’s SoftBank Group has reduced its stake in Indian electric scooter manufacturer Ola Electric to 15.68% from 17.83%, following the sale of a 2.15% holding over the past two months, according to a filing with the stock exchange on Thursday.
SoftBank, which is Ola Electric’s second-largest shareholder after founder Bhavish Aggarwal, disposed of a total of 94.9 million shares through multiple transactions conducted between July and September. The company did not disclose the sale price, leaving investors to speculate on the valuation of the divestment.
Ola Electric, which made its stock market debut in August 2024, has recently experienced a surge in trading activity, reflecting heightened investor interest in the electric vehicle sector in India. The stock recorded gains of more than 10% in two of the last four trading sessions, indicating strong market momentum.
The reduction in SoftBank’s stake marks another strategic adjustment by the Japanese investment giant, which has been actively managing its portfolio in response to changing market conditions and the evolving outlook for clean energy and mobility companies globally. Despite the partial exit, SoftBank remains a significant shareholder, continuing to support Ola Electric’s growth ambitions in India’s rapidly expanding electric two-wheeler market.
Ola Electric has been investing heavily in scaling up production capacity and expanding its charging and service infrastructure to meet rising demand, positioning itself as one of the leading players in India’s transition to electric mobility. The company’s founder, Bhavish Aggarwal, retains control and continues to drive strategic initiatives, including new product launches and international expansion plans.
