Japan's SoftBank trims stake in Ola Electric to 15.7%

Japan's SoftBank Group has lowered its shareholding in electric scooter maker Ola Electric to 15.68% from 17.83%, after selling a 2.15% stake over two months, an exchange filing showed on Thursday.

SoftBank, Ola Electric’s second-largest shareholder after founder Bhavish Aggarwal, sold a total of 94.9 million shares in a series of transactions between July and September. It did not disclose the sale price.

The company, which went public in August 2024, has seen a sharp pickup in trading volumes in recent sessions. The stock closed more than 10% higher in two of the past four sessions.