OLA Electric

In a stock exchange filing, the company stated that Abichandani resigned from his position effective at the close of business on January 19, citing personal reasons.

This marks the second stake sale by the SoftBank-backed vehicle in less than a year. Between July 15 and September 2, 2025, SVF II OSTRICH sold 94,943,459 shares, reducing its stake in Ola Electric from 17.83% to 15.68%.

The company said the ₹260 crore loan, for which Aggarwal had pledged 3.93% of his Ola Electric shares, will be repaid. This will free up the pledged shares.

According to a media report quoting a source, Z47 earned 7–10 times its Rs 107 crore investment after fully exiting Ola Electric.

According to stock exchange filings, the stake sale happened through multiple open-market deals between July 15 and September 2. The sale on September 2 crossed SEBI’s 2% disclosure threshold.

At Sankalp 2025, Ola Electric unveiled its new S1 Pro Sport scooter lineup, with deliveries starting January next year. It also launched MoveOS 6, an AI-powered operating system and introduced its Gen 4 modular platform that will power upcoming two, three, and four-wheelers.

Ola Electric Mobility reported a 23% increase in net loss to ₹428 crore in the first quarter ending June 30, 2025, compared to the same period last year.

Additionally, Kia Corporation, another South Korean automaker, sold about 2.71 crore shares of Ola Electric on the same day through an open market transaction.

The company said in a filing that the funds may be raised in one or more phases or through multiple issuances. This move comes at a time when the company is dealing with more regulatory pressure and financial difficulties.

Ola Electric, the electric vehicle company, will held a board meeting on Thursday to decide on raising funding by issuing non-convertible debentures (NCDs) or other securities in one or more rounds.