Japan’s SoftBank Group has reduced its shareholding in Indian electric scooter maker Ola Electric to 15.68% from 17.83% after selling a 2.15% stake over July and September, according to a stock exchange filing on Thursday.
SoftBank, the company’s second-largest shareholder after founder Bhavish Aggarwal, sold a total of 94.9 million shares. The sale price for the shares was not disclosed.
Ola Electric, which went public in August 2024, has seen increased trading activity in recent sessions, with its stock closing more than 10% higher in two of the past four sessions.
The Bengaluru-based company recently received certification under India’s Production Linked Incentive (PLI) scheme for its Gen 3 scooter portfolio. It also showcased its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual ‘Sankalp’ event at the Gigafactory in Tamil Nadu.
Founded in 2017, Ola Electric manufactures electric two-wheelers and components including battery packs, motors, and frames at its Ola Futurefactory. As of June 2025, the promoters held a 36.78% stake in the company.