The shares have fallen about 55% from their IPO price of INR 76. The company went public in August 2024
On a year-to-date basis, the stock has crashed nearly 60% on the back of high losses, regulatory troubles, and declining market share in the E2W segment
Amid declining E2W sales, the company is now focusing on battery energy storage systems for both residential and commercial purposes
Continuing its downward spiral, listed EV major Ola Electric’s shares dropped 4.76% to touch a fresh all-time low at INR 33.81 during the intraday trading session on the BSE today.
The shares have fallen about 55% from their IPO price of INR 76. The company went public in August 2024.
At 12:42 IST, the shares of the company were trading 4.31% lower at INR 33.97. The company’s market capitalisation stood at INR 14,996 Cr (about $1.8 Bn).
On a year-to-date basis, the stock has crashed nearly 60% on the back of high losses, regulatory troubles, declining market share in the electric two-wheeler (E2W) segment, and more.
Last week, it was reported that Ola Electric’s early backer Z47 (erstwhile Matrix Partners) exited the company. The VC firm’s name doesn’t appear in the list of Ola Electric’s shareholders at the end of September 2025 quarter. The investor held a 1.93% stake in the EV maker at the end of June quarter.
Amid the falling share prices, Z47 and Tiger Global diluted their stakes in the Bhavish Aggarwal-led company in Q1 FY26. Later in September, Japanese investor SoftBank decreased its holding in the company by selling 9.4 Cr equity shares, amounting to a 2.15% stake.
Amid declining E2W sales, the company is now focusing on battery energy storage systems for both residential and commercial purposes. Recently, it received its shareholders’ nod to raise up to INR 1,500 Cr to ramp up its cell business, expand battery energy storage systems, strengthen post sales production, and for new product development.
Yesterday, the company also said that it has commenced mass deliveries of EVs powered by its in-house produced 4680 Bharat Cell. As per the company, its S1 Pro+ is the first product to be powered by the 4680 Bharat Cell battery pack.
Meanwhile, Ananth Sankaranarayanan resigned from the position of a non-executive independent director on the company’s board last week. Sankaranarayanan, in his resignation letter, said that due to increasing professional commitments in his role as the CEO and founder of Mensa Brand Technologies Ltd he was not in a position to devote time for the role of independent director.
Ola Electric appointed Practo cofounder and CEO Navalur Dattatreya Singh Shashank as Sankaranarayanan’s replacement.
On the financial front, Ola Electric narrowed its net loss by 15% to INR 418 Cr in Q2 FY26 from INR 495 Cr in the corresponding quarter last year. However, revenue saw a sharp 43% decline, falling to INR 690 Cr from INR 1,214 Cr in Q2 FY25.
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