SoftBank sold another 1.2% stake in Indian electric scooter maker Ola Electric through open market trades. Its Vision Fund vehicle sold 55.5 million shares between January 6 and October 22. The sale reduced its holding to 11.7%.
Rights issue activity
The investor also sold 11.2 million rights entitlements during the period. Ola Electric is running a ₹999.74 crore rights issue to repay debt and expand its battery and energy storage work. SoftBank received 43.3 million entitlements and sold about 25.9% of them.
Selling since listing
SoftBank first invested in Ola Electric in 2019 with $250 million. It has trimmed its stake since the company went public in August 2024. Two earlier sale rounds took its holding from 17.83% to 13.53% between July 2025 and January 2026.
Company pressures
Ola Electric's operating revenue fell 45% to ₹455 crore in Q1 FY27 from ₹828 crore a year earlier. Its net loss narrowed 21.5% to ₹336 crore. The company is also shifting to dealer-operated stores and more affordable electric scooters.
The rights issue opened on October 22 and closes on October 30. It offers up to 370.3 million partly paid-up shares priced at ₹27 each. Motilal Oswal entities applied for 23.9 million shares on day one.