Ola Electric shares tank 16%, hit record low; stock down 86% from peak

Ola Electric shares plunged 16 per cent today to hit a record low of ₹21.21. The stock is down 86 per cent from its peak as February Vahan registrations fell 47 per cent M-o-M to 3,968 units

From ₹157 to ₹21: Ola Electric's market-cap meltdown deepens

  Ola Electric shares reeled under selling pressure on Monday, plunging 16 per cent, as investors remained wary of the electric two-wheeler's growth outlook.

 

Stock of the Bhavish Aggarwal-owned Ola Electric slumped 15.9 per cent on the BSE, hitting a record low of ₹21.21 per share. At 1:40 PM, the shares were quoting 5.7 per cent lower at ₹23.78 per share, compared to a 2 per cent decline in the BSE Sensex index. The company's market cap stands at ₹10,568 crore.

 

Close to 7.65 million shares have changed hands on Ola’s counter so far on the BSE, against a two-week average volume of 8.92 million shares.

 

 

Ola Electric shares have slipped 20.2 per cent in the last month, while they have crashed 55.68 per cent in one year. By comparison, the BSE Sensex index has rallied 8.9 per cent in one year.

 

Ola Electric launches ‘Ola Insiders’

The stock of the electric two-wheeler maker failed to rise on the bourses even as the company launched an ‘Ola Insiders’ programme.

 

On Sunday, the company launched an exclusive community programme for its existing customers to ‘unlock’ benefits, including vehicle upgrade, add-on and referrals.

 

Under the programme, existing Ola customers can upgrade their Gen 1 and Gen 2 scooters and receive benefits of up to ₹50,000 on the latest Gen 3 S1 portfolio and Roadster motorcycles, including the 4680 Bharat Cell variants.

 

Besides, existing Ola customers can avail benefits of up to ₹20,000 (including cashback and MoveOS upgrades) when adding another Ola vehicle under the same registered name.

 

Lastly, customers can avail referral benefits and earn up to ₹5,000 in Ola credits upon successful delivery. The referred buyer will also receive a ₹1,000 cashback.

 

Ola Electric’s failed stock market journey

Ola Electric debuted on the stock exchanges on August 9, 2024. The stock listed at ₹76 – at par with its IPO issue price.

 

Though the stock rallied for some time following its listing, it began its downward trajectory in October that year amid concerns of market share loss in EV sales, financial headwinds, regulatory scrutiny, and disappointing deliveries.

 

From its record high price of ₹157.53, touched on August 20, 2024, the stock is now down a whopping 86.53 per cent.

 

Fundamental concerns persist at the counter. As per the latest data available on the government’s Vahan website, Ola Electric’s electric two-wheeler registrations plunged sharply in February 2026.

 

Ola Electric registered just 3,968 units in February this year, a 47 per cent month-on-month decline from January. With this, the company’s market share fell to a paltry 3.5 per cent in the electric two-wheeler segment for the month.

 

The company has also slipped out of the top five EV two-wheeler sellers in India in terms of retail registrations. TVS Motor Company, Bajaj Auto, Ather Energy, Hero MotoCorp, and Ampere are the top five electric 2-wheeler sellers.

 

The decline in February sales comes amid reports that the company is planning to cut its store network to around 550 outlets by the end of March.

 

At its peak, Ola Electric had roughly 4,000 offline retail outlets in India. As of December 2025, Ola Electric said it had reduced the number of operational units to about 700.

 

Meanwhile, reports also suggest several Ola stores have already shut down and employees at some locations have been asked to leave.

 

In Q3FY26, Ola reported a net loss of ₹487 crore with a revenue of ₹470 crore.