SoftBank sells 1.2% stake in Ola Electric amid Rs 1,000 Cr rights issue

SVF II Ostrich (DE) LLC, an affiliate of SoftBank, has sold 5.55 crore shares of Ola Electric Mobility through open market transactions between January 6 and October 22, 2026, according to Ola Electric’s regulatory filing dated October 26.

The investor also sold 1.12 crore rights entitlements during the period. Following the transactions, its shareholding in Ola Electric declined to 11.7% from 12.9%, while its holding on a diluted basis fell to 11.47% from 12.81%, as per the filing.

The stake sale comes as the Bengaluru-based electric two-wheeler maker seeks to raise Rs 1,000 crore through a rights issue. The issue opened on October 22 and will close on October 30. Ola Electric plans to issue 37.03 crore partly paid-up equity shares at Rs 27 apiece, with an upfront payment of Rs 16.20 per share.

In a separate filing dated October 22, Ola Electric disclosed that Motilal Oswal Financial Services and Calliope Capital Advisors had applied for a combined 2.39 crore shares under the rights issue. Motilal Oswal applied for 1.28 crore shares, while Calliope Capital applied for 1.10 crore shares after both entities acquired rights entitlements from promoter group entities ANI Technologies and Indus Trust.

Meanwhile, Ola Electric founder Bhavish Aggarwal pledged a 4.32% stake in the company to fund his participation in the rights issue. The pledge was created to finance his subscription, with no shares sold as part of the transaction.

The rights issue is aimed at providing additional capital to the company amid pressure on its business and financial performance. The latest fundraise follows Ola Electric's Rs 780 crore qualified institutional placement in June. 

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