OLAELEC
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Hyundai exits India's Ola Electric, Kia cuts stake in $80 million share sale
June 4 (Reuters) - Hyundai Motor 005380.KS sold its entire stake in Ola Electric OLAE.NS, while rival South Korean carmaker Kia 000270.KS trimmed its holding, in a combined share sale worth 6.89 billion rupees ($80 million), according to exchange data.
Hyundai, which held a 2.47% stake in the company, sold shares at a price of 50.70 rupees, while Kia offloaded 0.6% of Ola Electric shares for 50.55 rupees, the data showed on Tuesday.
Kia held a less than 1% stake in Ola Electric. Its current holding is not known as exchange data does not disclose stakes below 1%.
Ola Electric's shares slumped 8% on Tuesday as both disposals were at a nearly 6% discount to its closing price on Monday.
Hyundai and Kia had invested $300 million in the Bhavish Aggarwal-led Ola in 2019 to collaborate on developing electric vehicles and their charging infrastructure.
The disposals come at a time when the company is grappling with slowing sales, regulatory pressure and competition from established two-wheeler makers. Its shares have dropped 46% since going public in August 2024.
The Bengaluru-based company had reported a wider fourth-quarter loss and also forecast a revenue decline in the first quarter of the current fiscal amid steep discounts it has been offering to weather competition.
($1 = 85.8800 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 8800437922;))
June 4 (Reuters) - Hyundai Motor 005380.KS sold its entire stake in Ola Electric OLAE.NS, while rival South Korean carmaker Kia 000270.KS trimmed its holding, in a combined share sale worth 6.89 billion rupees ($80 million), according to exchange data.
Hyundai, which held a 2.47% stake in the company, sold shares at a price of 50.70 rupees, while Kia offloaded 0.6% of Ola Electric shares for 50.55 rupees, the data showed on Tuesday.
Kia held a less than 1% stake in Ola Electric. Its current holding is not known as exchange data does not disclose stakes below 1%.
Ola Electric's shares slumped 8% on Tuesday as both disposals were at a nearly 6% discount to its closing price on Monday.
Hyundai and Kia had invested $300 million in the Bhavish Aggarwal-led Ola in 2019 to collaborate on developing electric vehicles and their charging infrastructure.
The disposals come at a time when the company is grappling with slowing sales, regulatory pressure and competition from established two-wheeler makers. Its shares have dropped 46% since going public in August 2024.
The Bengaluru-based company had reported a wider fourth-quarter loss and also forecast a revenue decline in the first quarter of the current fiscal amid steep discounts it has been offering to weather competition.
($1 = 85.8800 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 8800437922;))
India's Ola Electric Mobility falls on block deals at discount
** Ola Electric Mobility OLAE.NS falls 6% to 50.47 rupees
** More than 148 mln shares traded in 14 block deals at 50-52 rupees, per LSEG-compiled data
** The deals were at a 3.1%-6.9% discount to last close
** Overall trading vols at 193.1 mln shares, more than 6x the 30-day avg
** OLAE down ~41% YTD
(Reporting by Vijay Malkar)
(([email protected];))
** Ola Electric Mobility OLAE.NS falls 6% to 50.47 rupees
** More than 148 mln shares traded in 14 block deals at 50-52 rupees, per LSEG-compiled data
** The deals were at a 3.1%-6.9% discount to last close
** Overall trading vols at 193.1 mln shares, more than 6x the 30-day avg
** OLAE down ~41% YTD
(Reporting by Vijay Malkar)
(([email protected];))
India's Ola Electric falls after Q1 revenue decline forecast, wider Q4 loss
Updates
May 30 - ** Electric scooters maker Ola Electric Mobility OLAE.NS down 5.5% to 50.3 rupees after Q4 results
** Ola forecast decline in current quarter revenue to 8.5 billion rupees ($99.25 million), compared to 16.44 bln rupees in Q1 FY25 amid falling sales and steep discounts
** Co's Q4 loss doubled to 8.7 billion rupees vs 4.16 billion rupees a year ago, also hit by a one-time warranty expense provision
** Kotak Institutional Equities downgrades stock to "sell" from "reduce"; cuts fair value to 30 rupees from 50 rupees
** Says, core loss was "much above" its expectations and co's future hinges on scaling up volumes and a successful motorcycle foray, which faces "executive and credibility challenges"
** Ola is targeting profitability and gross margin improvement in current fiscal year
** Shares down ~41% YTD
(Reporting by Ananta Agarwal in Bengaluru)
Updates
May 30 - ** Electric scooters maker Ola Electric Mobility OLAE.NS down 5.5% to 50.3 rupees after Q4 results
** Ola forecast decline in current quarter revenue to 8.5 billion rupees ($99.25 million), compared to 16.44 bln rupees in Q1 FY25 amid falling sales and steep discounts
** Co's Q4 loss doubled to 8.7 billion rupees vs 4.16 billion rupees a year ago, also hit by a one-time warranty expense provision
** Kotak Institutional Equities downgrades stock to "sell" from "reduce"; cuts fair value to 30 rupees from 50 rupees
** Says, core loss was "much above" its expectations and co's future hinges on scaling up volumes and a successful motorcycle foray, which faces "executive and credibility challenges"
** Ola is targeting profitability and gross margin improvement in current fiscal year
** Shares down ~41% YTD
(Reporting by Ananta Agarwal in Bengaluru)
Indian e-scooter maker Ather posts first drop in annual loss on improving demand, margins
Ather's revenue up 29%, driven by 'Rizta' scooters
CEO Mehta forecasts profitability at "lower scale than peers"
Unit costs reduced by nearly 20%, margins double
Rewrites paragraph 1, adds details from earnings call, presentation throughout
By Nandan Mandayam
May 12 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS, founded in 2013, reported a smaller full-year loss for the first time ever on Monday, as strong demand for its 'Rizta' scooter and lower unit costs boosted margins.
Ather started selling e-scooters in 2018, becoming a pioneer in the Indian market, but has since fallen behind Ola Electric OLAE.NS and legacy rivals, who are better funded and have a wider distribution network.
The company, which debuted on the stock market last week, has sought to close the gap with the launch of the more family-oriented 'Rizta' and by using its engineering heft to lower costs.
That helped its net loss narrow to 2.34 billion rupees (about $28 million) in the fourth quarter, from 2.83 billion rupees a year ago. Its full-year loss shrank to 8.12 billion rupees from 10.6 billion rupees.
"Our reduction of losses and improvement of margins have happened on the back of our focus on software and a strong R&D-led cost reduction," CEO Tarun Mehta said.
Mehta, who has referred to Ather's e-scooters as the "Apple of electric two-wheelers", said the company could achieve profitability "at a lower scale than some of our peers." He did not give details or a timeline.
Its closest rival, Ola Electric, is also posting losses, while legacy two-wheeler companies, including market leader and Ather's biggest shareholder Hero MotoCorp HROM.NS, do not give separate results for their electric vehicle sales.
Strong demand for the 'Rizta' helped Ather's fourth-quarter revenue increase 29%.
The company hopes the 'Rizta' and other launches will help it expand in north and west India, and is backing its R&D prowess to cut production costs.
This, said Mehta, has already helped Ather cut full-year unit costs by nearly 20%, leading to adjusted gross margin, including government subsidies, doubling to 19%.
Ather's earnings margin before interest, taxes, depreciation and amortisation (EBITDA) margin improved to negative 23% from about negative 36%.
($1 = 84.8270 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala, Varun H K and Savio D'Souza)
(([email protected]; Mobile: +91 9591011727;))
Ather's revenue up 29%, driven by 'Rizta' scooters
CEO Mehta forecasts profitability at "lower scale than peers"
Unit costs reduced by nearly 20%, margins double
Rewrites paragraph 1, adds details from earnings call, presentation throughout
By Nandan Mandayam
May 12 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS, founded in 2013, reported a smaller full-year loss for the first time ever on Monday, as strong demand for its 'Rizta' scooter and lower unit costs boosted margins.
Ather started selling e-scooters in 2018, becoming a pioneer in the Indian market, but has since fallen behind Ola Electric OLAE.NS and legacy rivals, who are better funded and have a wider distribution network.
The company, which debuted on the stock market last week, has sought to close the gap with the launch of the more family-oriented 'Rizta' and by using its engineering heft to lower costs.
That helped its net loss narrow to 2.34 billion rupees (about $28 million) in the fourth quarter, from 2.83 billion rupees a year ago. Its full-year loss shrank to 8.12 billion rupees from 10.6 billion rupees.
"Our reduction of losses and improvement of margins have happened on the back of our focus on software and a strong R&D-led cost reduction," CEO Tarun Mehta said.
Mehta, who has referred to Ather's e-scooters as the "Apple of electric two-wheelers", said the company could achieve profitability "at a lower scale than some of our peers." He did not give details or a timeline.
Its closest rival, Ola Electric, is also posting losses, while legacy two-wheeler companies, including market leader and Ather's biggest shareholder Hero MotoCorp HROM.NS, do not give separate results for their electric vehicle sales.
Strong demand for the 'Rizta' helped Ather's fourth-quarter revenue increase 29%.
The company hopes the 'Rizta' and other launches will help it expand in north and west India, and is backing its R&D prowess to cut production costs.
This, said Mehta, has already helped Ather cut full-year unit costs by nearly 20%, leading to adjusted gross margin, including government subsidies, doubling to 19%.
Ather's earnings margin before interest, taxes, depreciation and amortisation (EBITDA) margin improved to negative 23% from about negative 36%.
($1 = 84.8270 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala, Varun H K and Savio D'Souza)
(([email protected]; Mobile: +91 9591011727;))
Ola Electric Mobility Clarifies On Perpetual License For 'Ola' Mark In EV Business
May 5 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
CLARIFIES ON PERPETUAL LICENSE FOR 'OLA' MARK IN EV BUSINESS
CO HOLDS LICENSE TO USE CERTAIN LICENSED IP, INCLUDING LOGO AND/OR WORD-MARK OF 'OLA'
LICENSE VALID GLOBALLY FOR OLA ELECTRIC VEHICLE BUSINESS
Source text: ID:nBSEbQD2dr
Further company coverage: OLAE.NS
(([email protected];;))
May 5 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
CLARIFIES ON PERPETUAL LICENSE FOR 'OLA' MARK IN EV BUSINESS
CO HOLDS LICENSE TO USE CERTAIN LICENSED IP, INCLUDING LOGO AND/OR WORD-MARK OF 'OLA'
LICENSE VALID GLOBALLY FOR OLA ELECTRIC VEHICLE BUSINESS
Source text: ID:nBSEbQD2dr
Further company coverage: OLAE.NS
(([email protected];;))
Ola Electric Says Reports On Alleged Insider Trading Contains Factual Inaccuracies
May 2 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC - STORY CO LIKELY IN SEBI CROSSHAIRS OVER ALLEGED INSIDER TRADING CONTAINS FACTUAL INACCURACIES
OLA ELECTRIC - INDIVIDUAL MENTIONED IN MEDIA ARTICLES IS EMPLOYEE OF OLA ELECTRIC TECH, HOLDS ESOPS OF CO
OLA ELECTRIC - TRADES REFERRED IN MEDIA REPORT WERE ROUTINE TRANSACTIONS
OLA ELECTRIC MOBILITY LTD - TRADES WERE ROUTINE TRANSACTIONS INVOLVING ESOPS
Source text: [ID:]
Further company coverage: OLAE.NS
(([email protected];;))
May 2 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC - STORY CO LIKELY IN SEBI CROSSHAIRS OVER ALLEGED INSIDER TRADING CONTAINS FACTUAL INACCURACIES
OLA ELECTRIC - INDIVIDUAL MENTIONED IN MEDIA ARTICLES IS EMPLOYEE OF OLA ELECTRIC TECH, HOLDS ESOPS OF CO
OLA ELECTRIC - TRADES REFERRED IN MEDIA REPORT WERE ROUTINE TRANSACTIONS
OLA ELECTRIC MOBILITY LTD - TRADES WERE ROUTINE TRANSACTIONS INVOLVING ESOPS
Source text: [ID:]
Further company coverage: OLAE.NS
(([email protected];;))
Ola Electric Mobility SaysUnaware Of Notice To Close 100 Showrooms In Maharashtra
April 25 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - UNAWARE OF NOTICE TO CLOSE 100 SHOWROOMS IN MAHARASHTRA
Source text: ID:nBSE6wRTMF
Further company coverage: OLAE.NS
(([email protected];))
April 25 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - UNAWARE OF NOTICE TO CLOSE 100 SHOWROOMS IN MAHARASHTRA
Source text: ID:nBSE6wRTMF
Further company coverage: OLAE.NS
(([email protected];))
India's Ola Electric falls on reports of store closures in Maharashtra
** Shares of Ola Electric Mobility OLAE.NS fall 3.3% to 51.3 rupees
** Maharashtra government has instructed regional transport offices to shut down co's outlets operating without a valid trade certificate, the Economic Times reports
** Separately, Mint reports that officials are planning to shut 121 of co's nearly 450 Maharashtra stores over not having sales permits
** Ola did not immediately respond to Reuters' request for comment
** Stock on track to snap a three-day winning streak
** OLAE has lost 32% in 2025
(Reporting by Yagnoseni Das in Bengaluru)
** Shares of Ola Electric Mobility OLAE.NS fall 3.3% to 51.3 rupees
** Maharashtra government has instructed regional transport offices to shut down co's outlets operating without a valid trade certificate, the Economic Times reports
** Separately, Mint reports that officials are planning to shut 121 of co's nearly 450 Maharashtra stores over not having sales permits
** Ola did not immediately respond to Reuters' request for comment
** Stock on track to snap a three-day winning streak
** OLAE has lost 32% in 2025
(Reporting by Yagnoseni Das in Bengaluru)
Ola Electric Mobility Rolls Out First Roadster X Motorcycle
April 11 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
ROLLS OUT FIRST ROADSTER X MOTORCYCLE
ROADSTER X SERIES PRICES START AT 84,999 RUPEES, UP TO 184,999 RUPEES
Source text: ID:nBSE57w37f
Further company coverage: OLAE.NS
(([email protected];;))
April 11 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
ROLLS OUT FIRST ROADSTER X MOTORCYCLE
ROADSTER X SERIES PRICES START AT 84,999 RUPEES, UP TO 184,999 RUPEES
Source text: ID:nBSE57w37f
Further company coverage: OLAE.NS
(([email protected];;))
BREAKINGVIEWS-Ola challenges investability of Indian startups
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to remove second graphic.
By Ujjaini Dutta
BENGALURU, April 9 (Reuters Breakingviews) - Ola Electric Mobility OLAE.NS has taken a poor turn. Nearly eight months after it went public at a $4.8 billion market capitalisation, shares of the SoftBank-backed 9984.T Indian electric scooter maker have plunged one-third below its initial public offering price, massively underperforming the benchmark Nifty 50 Index .NSEI which has held pretty firm against a global selloff in recent days. It's the latest promising startup in the country to run out of juice.
Founded by Bhavish Aggarwal, Ola was a posterchild for electric vehicles in the South Asian country where two-wheelers dominate, but it has quickly lost its lead in the booming industry. Its market share of 50% at the beginning of 2024 collapsed to 19% in December; Bajaj and TVS are catching up fast, rolling out electric scooters alongside their gas-guzzlers.
Ola’s sales are sputtering too. It reported over 25,000 two-wheeler sales for February, up 2.5% on the previous month. However, it logged about one-third of that amount with transport authorities. The company blames the large discrepancy on "a temporary registration backlog". Either way, regulators are scrutinising the saga.
Overall, revenue in the December quarter slumped 19% year-on-year to 10.45 billion rupees ($121 million), while Ola's net loss widened to 5.64 billion rupees over the same period. It's a disappointing performance from a company that was a beneficiary of financial handouts from India's flagship manufacturing incentive scheme.
Ola is not alone. Analysts at Bernstein label the rest of India’s unlisted electric vehicle startups, including rival and IPO hopeful Ather Energy “uninvestable”. Traditional two-wheeler makers, it says, have better reach, servicing and safety perceptions despite producing “boring and uninspiring products”.
It serves as a warning against India's startups in general. Many of the promising ones have struggled to retain their shine, even before the U.S. trade war-induced selloff. One 97 Communications-owned Paytm PAYT.NS, India’s one-time fintech darling, and online beauty shop Nykaa NYKA.NS are trading 62% and 85% below their IPO price. Prosus-backed PRX.AS Swiggy SWIG.NS, one half of a food delivery duopoly, has sunk too.
The problems of Ola and its cohort will raise the bar for the 20 or so large startups in India's IPO pipeline. The planned debut of Walmart-backed WMT.N loss-making payments giant PhonePe, at a mooted $15 billion valuation, already looked hasty. The IPO window may not slam shut in India but startups will need large discounts if they want to squeeze through.
Follow @ujjainidutta_
CONTEXT NEWS
Ola Electric's shares have fallen one-third below its initial public offering price of 76 rupees in August 2024.
Ola Electric's sales are either stalling, or plummeting https://www.reuters.com/graphics/BRV-BRV/jnpwlbnoxvw/chart.png
(Editing by Una Galani and Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to remove second graphic.
By Ujjaini Dutta
BENGALURU, April 9 (Reuters Breakingviews) - Ola Electric Mobility OLAE.NS has taken a poor turn. Nearly eight months after it went public at a $4.8 billion market capitalisation, shares of the SoftBank-backed 9984.T Indian electric scooter maker have plunged one-third below its initial public offering price, massively underperforming the benchmark Nifty 50 Index .NSEI which has held pretty firm against a global selloff in recent days. It's the latest promising startup in the country to run out of juice.
Founded by Bhavish Aggarwal, Ola was a posterchild for electric vehicles in the South Asian country where two-wheelers dominate, but it has quickly lost its lead in the booming industry. Its market share of 50% at the beginning of 2024 collapsed to 19% in December; Bajaj and TVS are catching up fast, rolling out electric scooters alongside their gas-guzzlers.
Ola’s sales are sputtering too. It reported over 25,000 two-wheeler sales for February, up 2.5% on the previous month. However, it logged about one-third of that amount with transport authorities. The company blames the large discrepancy on "a temporary registration backlog". Either way, regulators are scrutinising the saga.
Overall, revenue in the December quarter slumped 19% year-on-year to 10.45 billion rupees ($121 million), while Ola's net loss widened to 5.64 billion rupees over the same period. It's a disappointing performance from a company that was a beneficiary of financial handouts from India's flagship manufacturing incentive scheme.
Ola is not alone. Analysts at Bernstein label the rest of India’s unlisted electric vehicle startups, including rival and IPO hopeful Ather Energy “uninvestable”. Traditional two-wheeler makers, it says, have better reach, servicing and safety perceptions despite producing “boring and uninspiring products”.
It serves as a warning against India's startups in general. Many of the promising ones have struggled to retain their shine, even before the U.S. trade war-induced selloff. One 97 Communications-owned Paytm PAYT.NS, India’s one-time fintech darling, and online beauty shop Nykaa NYKA.NS are trading 62% and 85% below their IPO price. Prosus-backed PRX.AS Swiggy SWIG.NS, one half of a food delivery duopoly, has sunk too.
The problems of Ola and its cohort will raise the bar for the 20 or so large startups in India's IPO pipeline. The planned debut of Walmart-backed WMT.N loss-making payments giant PhonePe, at a mooted $15 billion valuation, already looked hasty. The IPO window may not slam shut in India but startups will need large discounts if they want to squeeze through.
Follow @ujjainidutta_
CONTEXT NEWS
Ola Electric's shares have fallen one-third below its initial public offering price of 76 rupees in August 2024.
Ola Electric's sales are either stalling, or plummeting https://www.reuters.com/graphics/BRV-BRV/jnpwlbnoxvw/chart.png
(Editing by Una Galani and Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
Ola Electric Mobility Issues Clarification On Feb 2025 Sales Figures
April 8 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
ISSUES CLARIFICATION ON FEBRUARY 2025 SALES FIGURES
FEBRUARY SALES BASED ON PAID AND CONFIRMED ORDERS
CO RECOGNIZES REVENUE ONLY UPON COMPLETION OF REGISTRATION AND DELIVERY OF VEHICLES
DISCLOSED FEB SALES DATA BASED ON PAID ORDERS AS ROUTINE REGISTRATION PROCESS WAS DISRUPTED
Source text: ID:nBSE8Kfdft
Further company coverage: OLAE.NS
(([email protected];;))
April 8 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
ISSUES CLARIFICATION ON FEBRUARY 2025 SALES FIGURES
FEBRUARY SALES BASED ON PAID AND CONFIRMED ORDERS
CO RECOGNIZES REVENUE ONLY UPON COMPLETION OF REGISTRATION AND DELIVERY OF VEHICLES
DISCLOSED FEB SALES DATA BASED ON PAID ORDERS AS ROUTINE REGISTRATION PROCESS WAS DISRUPTED
Source text: ID:nBSE8Kfdft
Further company coverage: OLAE.NS
(([email protected];;))
India's Ola Electric slides after block trades at discounted price
** Shares of Ola Electric Mobility OLAE.NS down ~2% at 52.95 rupees, set for third day of declines
** Over 1 mln shares traded in two block deals at 53.41 rupees each, a 1.3% discount to last close --LSEG data
** Stock down ~38% YTD and ~30% since early-Aug listing
** Avg rating of seven analysts equivalent of "hold", median PT is 73 rupees --LSEG data
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of Ola Electric Mobility OLAE.NS down ~2% at 52.95 rupees, set for third day of declines
** Over 1 mln shares traded in two block deals at 53.41 rupees each, a 1.3% discount to last close --LSEG data
** Stock down ~38% YTD and ~30% since early-Aug listing
** Avg rating of seven analysts equivalent of "hold", median PT is 73 rupees --LSEG data
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
India's Ola Electric settles all dues with Rosmerta Group
March 25 (Reuters) - India's Ola Electric Technologies has settled all its dues with creditor Rosmerta Group, and Rosmerta has, in turn, filed to withdraw the insolvency petition it had filed against the company, parent Ola Electric Mobility OLAE.NS said on Tuesday.
(Reporting by Aleef Jahan in Bengaluru; Editing by Sonia Cheema)
March 25 (Reuters) - India's Ola Electric Technologies has settled all its dues with creditor Rosmerta Group, and Rosmerta has, in turn, filed to withdraw the insolvency petition it had filed against the company, parent Ola Electric Mobility OLAE.NS said on Tuesday.
(Reporting by Aleef Jahan in Bengaluru; Editing by Sonia Cheema)
India's Ola Electric says February sales-registration mismatch due to 'temporary' backlog
March 21 (Reuters) - India's Ola Electric OLAE.NS said on Friday the mismatch between vehicle sales and registrations in February was due to a "temporary" backlog in registrations due to negotiations with its vendors.
A media report on Thursday said government agencies were probing the company for these discrepancies.
(Reporting by Aleef Jahan in Bengaluru; Editing by Varun H K)
March 21 (Reuters) - India's Ola Electric OLAE.NS said on Friday the mismatch between vehicle sales and registrations in February was due to a "temporary" backlog in registrations due to negotiations with its vendors.
A media report on Thursday said government agencies were probing the company for these discrepancies.
(Reporting by Aleef Jahan in Bengaluru; Editing by Varun H K)
India's Ola Electric falls on report govt probing sales-registration discrepancies
** Shares of Ola Electric Mobility OLAE.NS fall 2% to 53 rupees
** Co facing regulatory scrutiny, with heavy industries ministry probing details regarding discrepancies between its reported sales and actual vehicle registrations, broadcaster CNBC-TV18 reports
** Maharashtra's State Transport Authority inspected multiple Ola showrooms as part of the probe, report says
** OLAE did not immediately respond to a request for comment
** Ola Electric has faced multiple roadblocks in recent days, and had dropped to a record low on March 17 after it said one of its units faced an insolvency petition from a creditor
** Co previously received a letter from the federal government for missing a key milestone in the setup of its planned battery "gigafactory"
** OLAE has lost ~38% in 2025, and is down more than 66% from record high hit in August 2024
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Shares of Ola Electric Mobility OLAE.NS fall 2% to 53 rupees
** Co facing regulatory scrutiny, with heavy industries ministry probing details regarding discrepancies between its reported sales and actual vehicle registrations, broadcaster CNBC-TV18 reports
** Maharashtra's State Transport Authority inspected multiple Ola showrooms as part of the probe, report says
** OLAE did not immediately respond to a request for comment
** Ola Electric has faced multiple roadblocks in recent days, and had dropped to a record low on March 17 after it said one of its units faced an insolvency petition from a creditor
** Co previously received a letter from the federal government for missing a key milestone in the setup of its planned battery "gigafactory"
** OLAE has lost ~38% in 2025, and is down more than 66% from record high hit in August 2024
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
India's Ola Electric Mobility falls as unit faces insolvency petition
** Shares of Ola Electric Mobility OLAE.NS fall 3.7% to 48.62 rupees
** Rosmerta Digital Services, an operational creditor of Ola Electric Technologies, files a petition for initiation of corporate insolvency resolution process against OLAE's subsidiary Ola Electric Technologies
** Petition was filed alleging default in payment towards services rendered
** Ola Electric denies the claims
** OLAE stock has lost ~43% in 2025
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of Ola Electric Mobility OLAE.NS fall 3.7% to 48.62 rupees
** Rosmerta Digital Services, an operational creditor of Ola Electric Technologies, files a petition for initiation of corporate insolvency resolution process against OLAE's subsidiary Ola Electric Technologies
** Petition was filed alleging default in payment towards services rendered
** Ola Electric denies the claims
** OLAE stock has lost ~43% in 2025
(Reporting by Vijay Malkar)
(([email protected];))
Ola Electric Mobility Completes Network Transformation And Opex Reduction Program
March 12 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
COMPLETES NETWORK TRANSFORMATION AND OPEX REDUCTION PROGRAM
PROGRAM DELIVERS COST REDUCTION OF 900 MILLION RUPEES PER MONTH
COMPANY EXPECTS AUTOMOTIVE SEGMENT EBITDA BREAKEVEN IN Q1 FY26
AVERAGE VEHICLE INVENTORY REDUCED FROM 35 TO 20 DAYS
PROGRAM INCLUDES SHUTTING REGIONAL WAREHOUSES AND DIRECT SHIPPING
CUSTOMER DELIVERY TIME REDUCED FROM 12 DAYS TO 3-4 DAYS
DAILY VEHICLE REGISTRATIONS INCREASE TO OVER 800 PER DAY
Source text: ID:nBSE78Lrq3
Further company coverage: OLAE.NS
(([email protected];;))
March 12 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
COMPLETES NETWORK TRANSFORMATION AND OPEX REDUCTION PROGRAM
PROGRAM DELIVERS COST REDUCTION OF 900 MILLION RUPEES PER MONTH
COMPANY EXPECTS AUTOMOTIVE SEGMENT EBITDA BREAKEVEN IN Q1 FY26
AVERAGE VEHICLE INVENTORY REDUCED FROM 35 TO 20 DAYS
PROGRAM INCLUDES SHUTTING REGIONAL WAREHOUSES AND DIRECT SHIPPING
CUSTOMER DELIVERY TIME REDUCED FROM 12 DAYS TO 3-4 DAYS
DAILY VEHICLE REGISTRATIONS INCREASE TO OVER 800 PER DAY
Source text: ID:nBSE78Lrq3
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Ola Electric Mobility Unit Enters Programme Agreement For PLI ACC Scheme
March 4 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - UNIT ENTERS PROGRAMME AGREEMENT FOR PLI ACC SCHEME
OLA ELECTRIC - GETS LETTER FROM IFCI LTD SUBJECT NON-ACHIEVEMENT OF MILESTONE -1
OLA ELECTRIC - ACTIVELY ENGAGED WITH RELEVANT AUTHORITIES, IN PROCESS OF FILING APPROPRIATE RESPONSE
Source text: ID:nNSE1MRwCh
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March 4 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - UNIT ENTERS PROGRAMME AGREEMENT FOR PLI ACC SCHEME
OLA ELECTRIC - GETS LETTER FROM IFCI LTD SUBJECT NON-ACHIEVEMENT OF MILESTONE -1
OLA ELECTRIC - ACTIVELY ENGAGED WITH RELEVANT AUTHORITIES, IN PROCESS OF FILING APPROPRIATE RESPONSE
Source text: ID:nNSE1MRwCh
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Ola Electric to cut over 1,000 jobs, Bloomberg news reports
March 3 (Reuters) - Ola Electric Mobility OLAE.NS is laying off over a thousand employees and contract workers, Bloomberg News reported on Monday, citing people familiar with the matter.
(Reporting by Janaki Venugopalan in Bengaluru; Editing by Savio D'Souza)
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March 3 (Reuters) - Ola Electric Mobility OLAE.NS is laying off over a thousand employees and contract workers, Bloomberg News reported on Monday, citing people familiar with the matter.
(Reporting by Janaki Venugopalan in Bengaluru; Editing by Savio D'Souza)
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Ola Electric Mobility Says Ola Electric Sells 25,000 Units During February 2025
Feb 28 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - OLA ELECTRIC SELLS 25,000 UNITS DURING FEBRUARY 2025
Source text: [ID:]
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Feb 28 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - OLA ELECTRIC SELLS 25,000 UNITS DURING FEBRUARY 2025
Source text: [ID:]
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Ola Electric Mobility Renegotiates Terms Of Agreement With Agencies
Feb 19 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
RENEGOTIATING TERMS OF AGREEMENT WITH OUR AGENCIES
RENEGOTIATING AGREEMENTS TO REDUCE COSTS AND ENHANCE EFFICIENCIES
FEB 2025 REGISTRATION NUMBERS TEMPORARILY IMPACTED DUE TO NEGOTIATIONS
SALES REMAIN STRONG THROUGH FEBRUARY 2025 DESPITE REGISTRATION DIP
Source text: ID:nNSEccQpTs
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Feb 19 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
RENEGOTIATING TERMS OF AGREEMENT WITH OUR AGENCIES
RENEGOTIATING AGREEMENTS TO REDUCE COSTS AND ENHANCE EFFICIENCIES
FEB 2025 REGISTRATION NUMBERS TEMPORARILY IMPACTED DUE TO NEGOTIATIONS
SALES REMAIN STRONG THROUGH FEBRUARY 2025 DESPITE REGISTRATION DIP
Source text: ID:nNSEccQpTs
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MSCI adds Hyundai Motor India to key global index, removes Adani Green Energy
By Vivek Kumar M and Bharath Rajeswaran
Feb 12 (Reuters) - MSCI added a lone Indian company, carmaker Hyundai Motor India HYUN.NS, to its Global Standard index late on Tuesday and removed Adani Green Energy ADNA.NS as part of its February 2025 index rejig.
The change will come into effect on the market's close on February 28.
In its previous index reconstitution in November, MSCI had added five domestic companies into the global standard index, lifting India's weightage to nearly 20% in the gauge that tracks emerging markets.
The quarterly rebalancing, which was announced overnight, also saw 20 Indian stocks added to MSCI India Domestic Smallcap Index, including Ola Electric Mobility OLAE.NS, Sundaram Clayton SUNM.NS and Zaggle Prepaid Ocean Services ZAGG.NS, among others.
However, 17 stocks were deleted from the MSCI Smallcap index.
According to IIFL Capital, the MSCI rejig could lead to a net passive inflow of about $850 million to $1 billion into Indian markets.
Private lender IndusInd Bank INBK.NS, which is already part of the global standard index, saw a weight increase, according to IIFL Capital.
While MSCI added and removed one Indian stock from the global standard indexes, it added eight stocks from China and deleted 20 stocks from the world's second-largest economy.
Overall, 23 securities will be added and 107 securities deleted from the MSCI global standard indexes as part of the review.
(Reporting by Vivek Kumar M and Bharath Rajeswaran in Bengaluru)
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By Vivek Kumar M and Bharath Rajeswaran
Feb 12 (Reuters) - MSCI added a lone Indian company, carmaker Hyundai Motor India HYUN.NS, to its Global Standard index late on Tuesday and removed Adani Green Energy ADNA.NS as part of its February 2025 index rejig.
The change will come into effect on the market's close on February 28.
In its previous index reconstitution in November, MSCI had added five domestic companies into the global standard index, lifting India's weightage to nearly 20% in the gauge that tracks emerging markets.
The quarterly rebalancing, which was announced overnight, also saw 20 Indian stocks added to MSCI India Domestic Smallcap Index, including Ola Electric Mobility OLAE.NS, Sundaram Clayton SUNM.NS and Zaggle Prepaid Ocean Services ZAGG.NS, among others.
However, 17 stocks were deleted from the MSCI Smallcap index.
According to IIFL Capital, the MSCI rejig could lead to a net passive inflow of about $850 million to $1 billion into Indian markets.
Private lender IndusInd Bank INBK.NS, which is already part of the global standard index, saw a weight increase, according to IIFL Capital.
While MSCI added and removed one Indian stock from the global standard indexes, it added eight stocks from China and deleted 20 stocks from the world's second-largest economy.
Overall, 23 securities will be added and 107 securities deleted from the MSCI global standard indexes as part of the review.
(Reporting by Vivek Kumar M and Bharath Rajeswaran in Bengaluru)
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Ola Electric Mobility Q3 Consol Net Loss 5.64 Billion Rupees
Feb 7 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY Q3 CONSOL NET LOSS 5.64 BILLION RUPEES
OLA ELECTRIC MOBILITY Q3 CONSOL REVENUE FROM OPERATIONS 10.45 BILLION RUPEES
Source text: [ID:]
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Feb 7 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY Q3 CONSOL NET LOSS 5.64 BILLION RUPEES
OLA ELECTRIC MOBILITY Q3 CONSOL REVENUE FROM OPERATIONS 10.45 BILLION RUPEES
Source text: [ID:]
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Ola Electric Mobility Launches Roadster X Series Motorcycles
Feb 5 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
LAUNCHES ROADSTER X SERIES MOTORCYCLES
ROADSTER X SERIES STARTS AT 74,999 RUPEES
Source text: ID:nNSE8wqP4x
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Feb 5 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
LAUNCHES ROADSTER X SERIES MOTORCYCLES
ROADSTER X SERIES STARTS AT 74,999 RUPEES
Source text: ID:nNSE8wqP4x
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Ola Electric Mobility Registers 24,341 Units Sales In January 2025
Feb 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY - REGISTERED 24,341 UNITS IN JANUARY 2025
Source text: ID:nBSE4SyPGd
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Feb 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY - REGISTERED 24,341 UNITS IN JANUARY 2025
Source text: ID:nBSE4SyPGd
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Ola Consumer Says Do Not Differentiate Based On Operating System Of The User’S Cellphone For Identical Rides
Jan 24 (Reuters) -
OLA ON NOTICE BY CONSUMER BODY: WE DO NOT DIFFERENTIATE BASED ON OPERATING SYSTEM OF THE USER’S CELLPHONE FOR IDENTICAL RIDES
OLA CONSUMER: WILL WORK WITH CENTRAL CONSUMER PROTECTION AUTHORITY TO CLEAR ANY MISUNDERSTANDING
Source text: [ID:]
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Jan 24 (Reuters) -
OLA ON NOTICE BY CONSUMER BODY: WE DO NOT DIFFERENTIATE BASED ON OPERATING SYSTEM OF THE USER’S CELLPHONE FOR IDENTICAL RIDES
OLA CONSUMER: WILL WORK WITH CENTRAL CONSUMER PROTECTION AUTHORITY TO CLEAR ANY MISUNDERSTANDING
Source text: [ID:]
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Ola Electric Mobility Gets Further Request For Information From Central Consumer Protection Authority
Jan 10 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
RECEIVES FURTHER REQUEST FOR INFORMATION FROM CENTRAL CONSUMER PROTECTION AUTHORITY
Source text: ID:nBSE9PCNbv
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Jan 10 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
RECEIVES FURTHER REQUEST FOR INFORMATION FROM CENTRAL CONSUMER PROTECTION AUTHORITY
Source text: ID:nBSE9PCNbv
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India markets regulator warns Ola Electric for disclosure delays
Jan 8 (Reuters) - India's markets regulator has sent a warning letter to Ola Electric OLAE.NS for sharing information on social media before disclosing it to investors, adding to a long line of troubles for the electric two-wheeler maker.
The letter from the Securities and Exchange Board of India (SEBI), disclosed by Ola Electric late on Tuesday, said that the company had failed to disclose information of a planned store network expansion on time to its investors.
The news of the planned store openings was shared first on social media platform X by founder and Managing Director Bhavish Aggarwal and to investors about four hours later through the stock exchanges.
Publicly-listed companies are required to disclose any information first to investors through exchange filings and not more than 12 hours from the event taking place.
Ola Electric, which went public in August last year, opened 3,200 new stores and service centres last month to expand its reach and address rising complaints on its service standards.
Shares of Ola Electric were down about 1.6% at 77.9 rupees. They had fallen as much as 5% earlier in the day
(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)
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Jan 8 (Reuters) - India's markets regulator has sent a warning letter to Ola Electric OLAE.NS for sharing information on social media before disclosing it to investors, adding to a long line of troubles for the electric two-wheeler maker.
The letter from the Securities and Exchange Board of India (SEBI), disclosed by Ola Electric late on Tuesday, said that the company had failed to disclose information of a planned store network expansion on time to its investors.
The news of the planned store openings was shared first on social media platform X by founder and Managing Director Bhavish Aggarwal and to investors about four hours later through the stock exchanges.
Publicly-listed companies are required to disclose any information first to investors through exchange filings and not more than 12 hours from the event taking place.
Ola Electric, which went public in August last year, opened 3,200 new stores and service centres last month to expand its reach and address rising complaints on its service standards.
Shares of Ola Electric were down about 1.6% at 77.9 rupees. They had fallen as much as 5% earlier in the day
(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)
(([email protected]; Mobile: +91 9591011727;))
Ola Electric Mobility Says Suvonil Chatterjee Resigns As Chief Technology And Product Officer
Dec 27 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - SUVONIL CHATTERJEE RESIGNS AS CHIEF TECHNOLOGY AND PRODUCT OFFICER
Source text: ID:nNSE206JjB
Further company coverage: OLAE.NS
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Dec 27 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:
OLA ELECTRIC MOBILITY LTD - SUVONIL CHATTERJEE RESIGNS AS CHIEF TECHNOLOGY AND PRODUCT OFFICER
Source text: ID:nNSE206JjB
Further company coverage: OLAE.NS
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Indian EV maker Greaves Electric Mobility files IPO papers
Corrects company name in headline to Greaves Electric Mobility from Greaves Electricity
Dec 23 (Reuters) - Indian electric-vehicle maker Greaves Electric Mobility plans to raise 10 billion rupees ($117.5 million) through an initial public offering, according to the draft papers it filed on Monday.
Greaves Electric is known for its 'Ampere' brand of e-scooters and also manufactures three-wheelers under a different brand.
The company's top shareholder – publicly listed Greaves Cotton GRVL.NS – and investment group Abdul Latif Jameel Green Mobility Solutions will sell around 189.4 million shares through the IPO.
Greaves Electric joins larger rival Ather Energy ATHR.NS in hopping onto India's primary issue bandwagon, with proceeds more than doubling year-on-year to $17.5 billion by mid-December this year, according to data compiled by LSEG.
Ola Electric Mobility's OLAE.NS IPO, the first by a pure-play Indian EV maker, saw investors bid for 4.3 times the shares on offer.
Greaves Electric plans to invest the IPO proceeds into product research and development and build battery assembly capabilities, with a smaller portion earmarked to boost manufacturing capacity.
Prior to the issue, Greaves Cotton owned a 62.5% stake in Greaves Electric, with Abdul Latif Jameel Green Mobility Solutions owning the rest.
($1 = 85.0960 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Krishna Chandra Eluri)
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Corrects company name in headline to Greaves Electric Mobility from Greaves Electricity
Dec 23 (Reuters) - Indian electric-vehicle maker Greaves Electric Mobility plans to raise 10 billion rupees ($117.5 million) through an initial public offering, according to the draft papers it filed on Monday.
Greaves Electric is known for its 'Ampere' brand of e-scooters and also manufactures three-wheelers under a different brand.
The company's top shareholder – publicly listed Greaves Cotton GRVL.NS – and investment group Abdul Latif Jameel Green Mobility Solutions will sell around 189.4 million shares through the IPO.
Greaves Electric joins larger rival Ather Energy ATHR.NS in hopping onto India's primary issue bandwagon, with proceeds more than doubling year-on-year to $17.5 billion by mid-December this year, according to data compiled by LSEG.
Ola Electric Mobility's OLAE.NS IPO, the first by a pure-play Indian EV maker, saw investors bid for 4.3 times the shares on offer.
Greaves Electric plans to invest the IPO proceeds into product research and development and build battery assembly capabilities, with a smaller portion earmarked to boost manufacturing capacity.
Prior to the issue, Greaves Cotton owned a 62.5% stake in Greaves Electric, with Abdul Latif Jameel Green Mobility Solutions owning the rest.
($1 = 85.0960 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Krishna Chandra Eluri)
(([email protected]; Mobile: +91 9591011727;))
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What does OLA Electric Mobilit do?
Ola Electric Mobility is an electric vehicle company that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors, and vehicle frames at the Ola Futurefactory. The company’s DNA of R&D; and technology including design, engineering and manufacturing are focussed on building high-quality and accessible EV products.
Who are the competitors of OLA Electric Mobilit?
OLA Electric Mobilit major competitors are Hero MotoCorp, TVS Motor, Bajaj Auto, Bajaj Auto, Eicher Motors, Ather Energy, Atul Auto. Market Cap of OLA Electric Mobilit is ₹21,472 Crs. While the median market cap of its peers are ₹1,30,528 Crs.
Is OLA Electric Mobilit financially stable compared to its competitors?
OLA Electric Mobilit seems to be less financially stable compared to its competitors. Altman Z score of OLA Electric Mobilit is 1.54 and is ranked 8 out of its 8 competitors.
Does OLA Electric Mobilit pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. OLA Electric Mobilit latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has OLA Electric Mobilit allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is OLA Electric Mobilit balance sheet?
OLA Electric Mobilit balance sheet is weak and might have solvency issues
Is the profitablity of OLA Electric Mobilit improving?
No, profit is decreasing. The profit of OLA Electric Mobilit is -₹2,276 Crs for TTM, -₹1,584.4 Crs for Mar 2024 and -₹1,472.08 Crs for Mar 2023.
Is the debt of OLA Electric Mobilit increasing or decreasing?
Yes, The net debt of OLA Electric Mobilit is increasing. Latest net debt of OLA Electric Mobilit is -₹473 Crs as of Mar-25. This is greater than Mar-24 when it was -₹936.96 Crs.
Is OLA Electric Mobilit stock expensive?
There is insufficient historical data to gauge this. Latest PE of OLA Electric Mobilit is 0
Has the share price of OLA Electric Mobilit grown faster than its competition?
There is not enough historical data for the companies share price.
Is the promoter bullish about OLA Electric Mobilit?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in OLA Electric Mobilit is 36.78% and last quarter promoter holding is 36.78%.
Are mutual funds buying/selling OLA Electric Mobilit?
The mutual fund holding of OLA Electric Mobilit is decreasing. The current mutual fund holding in OLA Electric Mobilit is 2.61% while previous quarter holding is 4.09%.