SoftBank sells 1.2% stake and rights entitlements in Ola Electric

SoftBank investment vehicle SVF II Ostrich (DE) LLC has offloaded a 1.2% stake in Ola Electric Mobility through open-market trades between January and October, stock exchange filings show.

The Japanese conglomerate sold 5.55 crore shares during the period, alongside millions of rights entitlements issued as part of Ola Electric's ongoing Rs 1,000 crore fundraising exercise.

The sales coincided with Ola Electric launching its rights issue of partly paid-up equity shares, designed to bolster balance sheet capacity as India's two-wheeler market accelerates its transition toward electric mobility.

Exchange filings show offloading of rights entitlements

Stock exchange disclosures detail different tranches of trading activity by the SoftBank affiliate during the issue period. Exchange filings show that SVF II Ostrich sold rights entitlements to subscribe to an additional 1.12 crore shares between January 6 and October 22. Bulk-deal data from the National Stock Exchange shows the entity cumulatively offloaded 3.58 crore rights entitlements through October 26, including 1.21 crore on October 22 and 23, and another 2.37 crore on October 26.

Other institutional holders also adjusted their positions. Vanguard ESG International Stock sold 57.05 lakh rights entitlements on October 26, exchange records show.

As of September, SVF II Ostrich retained a substantial 11.70% stake in the company, holding 54.15 crore shares. Founder Bhavish Aggarwal remains the largest shareholder with 122.75 crore shares, representing a 26.52% equity stake.

Strong domestic demand backs EV expansion

While foreign venture funds trimmed positions, domestic institutional investors demonstrated confidence in the EV manufacturer's expansion strategy. Motilal Oswal Financial Services and Calliope Capital Advisors applied for a combined 2.39 crore shares on the opening day of the rights issue on October 22. Exchange filings show the entitlements for these applications were transferred by promoter-group entities ANI Technologies and Indus Trust.

The Rs 1,000 crore rights issue builds on capital raised earlier in the year, following a Rs 780 crore qualified institutional placement completed in June. Ola Electric had initially aimed to raise Rs 500 crore through that placement before increasing the target to accommodate stronger demand.

The capital expansion reflects sustained momentum across India's domestic electric mobility ecosystem, underpinned by robust national manufacturing incentives and accelerating consumer adoption.