SoftBank Sells 1.2% Stake In Ola Electric, Offloads 1.12 Cr Rights Entitlements

by · Inc42

SUMMARY

  • SoftBank sold 5.55 Cr Ola Electric shares between January 6 and October 22, reducing its holding to 11.7% from 12.9%
  • SoftBank’s continued sell-down comes as Ola Electric seeks fresh capital to repay debt and fund growth amid declining revenue and market share
  • The investor also sold 1.12 Cr rights entitlements, representing 25.9% of its allocation under Ola Electric’s nearly ₹1,000 Cr rights issue