SoftBank trims 2% stake in Ola Electric to 15.7%
What's the story
SoftBank has sold a 2% stake in Ola Electric Mobility Ltd, reducing its holding to 15.68%. The sale was executed through open market transactions by SoftBank's investment arm SVF II Ostrich (DE) LLC. Between July 15 and September 2, the firm disposed of nearly 95 million equity shares of Ola Electric, according to a regulatory filing with the BSE and NSE.
Regulatory compliance
Holding now stands at 691 million shares
The sale of shares by SoftBank's investment arm SVF II Ostrich (DE) LLC crossed the 2% threshold that requires public disclosure under the Securities and Exchange Board of India (SEBI)'s takeover regulations. Prior to the transaction, SoftBank held 786.6 million shares or 17.83% of Ola Electric's paid-up capital. After the sale, its holding now stands at 691.6 million shares or 15.68%.
Market presence
Ola Electric's growth trajectory
The stake sale comes nine months after Ola Electric went public in December 2024. The company is led by founder Bhavish Aggarwal and is currently expanding its scooter lineup, venturing into electric motorcycles, and scaling up its Gigafactory project in Tamil Nadu. Despite the latest stake dilution, SoftBank remains one of the largest institutional shareholders in Ola Electric after supporting them through multiple funding rounds before their IPO.