SoftBank arm sold 5.55 crore Ola Electric shares in 2026; holding falls to 11.7%

SVF II Ostrich (DE) LLC, a SoftBank affiliate, sold 5.55 crore Ola Electric shares in the open market between January 6 and October 22, 2026, according to Entrackr and Inc42. Inc42 first reported that this equals 1.2% of the company. SoftBank's holding is now 11.7%, down from 12.9%. On a diluted basis, it fell to 11.47% from 12.81%.

The sales overlap with the company's rights issue. It is worth about Rs 1,000 crore and offers 37.03 crore partly paid-up shares at Rs 27 each, with Rs 16.20 payable upfront. Entrackr first reported that the issue runs from October 22 to October 30, and that the filing is dated October 26. The sources differ on rights entitlements sold. Entrackr and Inc42 report 1.12 crore per the filing. The Hindu BusinessLine reports 3.58 crore cumulatively through October 26, citing NSE bulk-deal data. Selling an entitlement does not reduce an existing equity holding.

Entrackr and The Hindu BusinessLine reported that Motilal Oswal and Calliope applied for a combined 2.39 crore shares, using entitlements from ANI Technologies and Indus Trust. Entrackr reported the split: 1.28 crore and 1.10 crore respectively. Entrackr first reported that Bhavish Aggarwal, founder of Ola Electric, pledged a 4.32% stake to fund rights participation. The Hindu BusinessLine first reported that he holds 122.75 crore shares, or 26.52%.

Business Today first reported that the stock closed 16.77% higher at Rs 34.95, with a high of Rs 35.91, and a market cap of Rs 17,470.39 crore. Inc42 first reported Q1 FY27 revenue down 45% to Rs 455 Cr, with the net loss narrowing 21.5% to Rs 336 Cr. It also first reported that Goldman Sachs cut the stock to Sell with a target of Rs 23. Ola's share of the market slipped to 6.5% in September, compared with 7.6% in August.