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Ola Electric's early investors sell stakes amid revenue nosedive
Ola Electric just saw some of its earliest backers—Z47 (formerly Matrix Partners India) and Tiger Global—trim their stakes as the company's revenue dropped sharply this quarter.
Z47 sold nearly 1% for ₹187cr, now holding 1.93%, while Tiger Global reduced its share to just over 3%.
Losses grew to ₹428cr
Revenue for April-June 2025 fell by almost half to ₹828cr, and losses grew to ₹428cr.
Founder Bhavish Aggarwal says they're shifting gears from rapid expansion to focusing on profitability, especially with competition heating up.
Hyundai and Kia have also sold off major chunks
Hyundai and Kia have also sold off major chunks of their Ola Electric shares—₹552cr and ₹137cr worth, respectively.
It's part of a wider trend: investors are rethinking their bets as Ola faces some tough financial headwinds.