Ola Electric Shares Surge on SoftBank Stake Sale

Ola Electric's share price surged by nearly 14%, reaching a high of Rs 34.09 on the NSE, after SoftBank's investment vehicle divested its rights entitlements. SVF II Ostrich (DE) LLC sold 3.58 crore rights entitlements in Ola Electric Mobility between October 22 and October 26, as the company aims to raise Rs 1,000 crore through a rights issue.

Financially, Ola Electric Mobility reported a narrowed net loss of Rs 336 crore for Q1 FY27, an improvement from Rs 428 crore in the same quarter last year and Rs 500 crore in Q4 FY26. Revenue from operations stood at Rs 455 crore, a year-on-year decrease but a 72% increase quarter-on-quarter. The company's orders and deliveries nearly doubled from the previous quarter, with registrations rising 97% sequentially to 43,921 units in Q1 FY27.

Despite the recent stock surge, Ola Electric's shares have seen a decline over the past month and year. The stock has risen over 7% in the last five trading sessions but is down 20% in the past month and has erased over 35% of investors' wealth in the last 12 months.