Japan’s SoftBank Group has lowered its stake in electric scooter maker Ola Electric, an exchange filing showed on Thursday. Between July 15, 2025, and September 2, 2025, SoftBank’s investment arm SVF II Ostrich (DE) LLC sold 94.9 million shares or 2.15% stake in a series of transactions, reducing its stake in the company to 15.68% from 17.83%. It did not disclose the sale price.

According to Trendlyne data, this marks SoftBank’s first stake sale since Ola Electric’s IPO in August 2024. Despite the sale, SoftBank remains the second-largest shareholder in the company, behind founder and chairman Bhavish Aggarwal, who held a 30.02% stake as of the June quarter.

“SVF II OSTRICH (DE) LLC has disposed of an aggregate of 94,943,459 equity shares of Ola Electric Mobility Limited in a series of disposals undertaken between July 15, 2025, and September 2, 2025, with the disposal on September 2, 2025, breaching the 2% threshold specified in Regulation 29(2) of the SEBI Takeover Regulations,” SoftBank said in its exchange filing.

Stock climbs sharply in recent weeks

While the Japanese investor was offloading its stake in Ola, the company’s stock surged 61% in less than four weeks, the best one-way rally the stock has experienced since its listing. It closed August with a massive gain of 37%, marking its biggest monthly increase in a year.

The rally was driven by founder and chairman Bhavish Aggarwal’s growth roadmap, outlined at the company’s annual Sankalp event, which targets a 25–30% share of India’s two-wheeler EV market through vertical integration and new launches.

The upswing was further supported after China lifted its export restrictions on rare earth magnets to India. These magnets, crucial for electric vehicle motors, semiconductors, and advanced electronics, had previously disrupted supply chains, affecting production for electric two-wheeler makers.

Experts believe that the removal of these restrictions will stabilize supply chains, reduce production risks, and support India’s EV growth targets—especially ahead of the festive season.

Meanwhile, the company also reported better-than-expected earnings for the June-ended quarter, posting a consolidated net loss of ₹428 crore in Q1FY26, compared with a loss of ₹870 crore in Q4FY25 and ₹347 crore in Q1FY25. Revenue, however, fell to ₹828 crore, marking a 49.6% year-on-year (YoY) decline from ₹1,644 crore.

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