SoftBank has cut its stake in Ola Electric by 1.2%, selling 5.5 crore shares and 1.12 crore rights entitlements, reducing its holding to 11.7%, according to reporting on 27–28 October 2026. The sale comes while Ola Electric runs a ₹1,000 crore rights issue.
The context is a difficult year for the EV maker. Consolidated operating revenue fell 45% to ₹455 crore in Q1 FY27 from ₹828 crore a year earlier, though net loss narrowed 21.5% to ₹336 crore from ₹428 crore. Its market share in electric two-wheelers fell to 6.5% in September from 7.6% in August, and Goldman Sachs earlier in October downgraded the stock to 'Sell' and cut its target price to ₹23 per share.
Ola Electric shares ended the trading session covered in the reporting 16.775 higher at ₹34.95 on the BSE — a reminder that stake sales by large holders and short-term share moves do not always point in the same direction.
The company is shifting towards dealer-operated stores and rolling out more affordable electric scooters as it tries to regain ground. For the broader ecosystem, a marquee investor trimming its position during a rights issue is a signal founders should read carefully: it is neither an exit nor an endorsement, but a recalibration.
Rights issues test existing shareholders' conviction in a way that new rounds do not — they ask current holders to put in more money at a set price, and who subscribes, and who sells their entitlements instead, is public information.
Why it matters for founders
A rights issue reveals conviction. When existing investors are asked to add capital, watch who subscribes and who sells their entitlements — that behaviour, more than any press statement, tells you what insiders really believe about the turnaround.