Ola Electric Stake Changes by Z47 and Tiger Global in April–June 2025

Ola Electric’s early investors, Z47 (previously known as Matrix Partners India) and Tiger Global Management, have reduced their shareholdings in the Bengaluru-based company during the April to June 2025 quarter, according to stock exchange disclosures for this period.

Z47 decreased its stake from 2.72% to 1.93%, marking a decline of about 0.81 percentage points. Based on an average share price of Rs 41, the venture capital firm is estimated to have profited approximately Rs 147 to 150 crore from this transaction.

Tiger Global also slightly cut its stake from 3.45% to 3.24%, with an estimated profit of Rs 39 to 45 crore. The remaining shares held through Internet Fund III are currently valued at Rs 587 crore.

This reduction in stake at Ola Electric coincides with Z47’s active search for secondary stake sales in other portfolio companies, including OfBusiness, Razorpay, and Dailyhunt’s parent company, VerSe.

Even with these partial exits, both Z47 and Tiger Global continue to hold meaningful minority stakes in Ola Electric. Prominent investors in the electric vehicle company also include SoftBank, AlphaWave, Temasek, and Citigroup.

Ola Electric’s Revenue Trends

Ola Electric’s revenue has further decreased sharply in the latest quarter. The revenue from operations fell by 49.6% to Rs 824 crore in Q1 FY26, compared to Rs 1,644 crore in Q1 FY25. The company did, however, show a year-on-year growth of 23.3% in revenue, climbing to Rs 428 crore during the same period.

As of 02 PM, the company is trading at Rs 40.7 per share, with a total market capitalization of Rs 17,925 crore (approximately $2.1 billion).

Market Position and Challenges

In July, Ola Electric dropped to third place in terms of registrations, recording 17,848 units, representing a 57% year-on-year decline, which has led to a market share decrease to 17.35%. Ather Energy has significantly narrowed the gap with 16,231 registrations and a 15.78% market share. This decline adds to the mounting challenges facing Ola Electric as rivals like TVS and Bajaj strengthen their positions in the market.