SoftBank Cuts Ola Electric Stake to 15.68% Amid Portfolio Rebalancing
SoftBank has reduced its stake in Ola Electric, selling 9.4 crore equity shares and bringing its holding down to 15.68% from 17.83%. The sale, conducted between July 15 and September 2, saw Ola Electric's share price drop by 6.3% to ₹64.59 on the Bombay Stock Exchange.
The sale does not indicate an exit for SoftBank, but rather a portfolio rebalancing amidst volatile markets. Ola Electric's Futurefactory in Krishnagiri, Tamil Nadu, remains central to its vision of scaling rapidly and making electric vehicles (EVs) mainstream in India. Despite the stake reduction, Ola Electric continues to be one of India's leading names in the EV revolution, led by Bhavish Aggarwal.
The broader EV sector in India is witnessing intense competition and growth, driven by government incentives, state EV policies, and a rising consumer shift towards sustainable vehicles. India is positioning itself as a future EV hub, with Ola Electric standing at a crossroads to live up to its disruptive vision. The company's ambitious roadmap includes new scooter launches, an electric car project, battery innovation, and charging infrastructure development. Ola Electric is working on strengthening its supply chain, scaling production, and expanding product lines to capture India's rapidly growing EV demand.
SoftBank's stake reduction in Ola Electric, while significant, does not signal an immediate exit. The company continues to focus on its ambitious plans, contributing to India's growing EV sector. As competition intensifies and government support grows, Ola Electric remains a key player in shaping India's future as an EV hub.
