Latest news with #Sankalp2025
Time of India
5 days ago
- Automotive
- Time of India
Ola Electric's early investors Z47 and Tiger Global trim stakes amid profitability pivot
Two of Ola Electric Mobility's early backers — venture capital firm Z47 (formerly Matrix Partners India) and hedge fund Tiger Global Management — have pared down their holdings in the electric two-wheeler maker during the April-June quarter, according to recent regulatory disclosures. Z47 offloaded less than 1 per cent of its stake in the company, netting up to ₹187 crore, ETTech reports It now holds a 1.93 per cent stake — around 8.5 crore shares — valued at approximately ₹347 crore at the current market price of ₹41 per share. The VC firm had first invested in Ola Electric in 2019, with a total infusion of ₹107 crore, and continues to hold positions in Ola's ride-hailing arm and the AI venture Krutrim. The trimming comes amid a broader strategy shift at Z47, which is also reducing exposure in other startups like OfBusiness, Razorpay and Dailyhunt to unlock around $150–180 million, as reported earlier by ET. Meanwhile, Tiger Global also reduced its stake in Ola Electric to 3.24 per cent from 3.45 per cent in the same period. Its holding is now valued at around ₹585 crore through its Internet Fund III. Earlier in June, Hyundai Motor Company and Kia Corporation also exited a part of their investments, selling about 10.88 crore and 2.7 crore shares respectively, earning ₹552 crore and ₹137 crore. Ola Electric Shifts Focus to Sustainable Growth The investor exits come as Ola Electric reorients its strategy towards profitability amid rising competition in India's electric two-wheeler (E2W) segment. The company posted a wider net loss of ₹428 crore in the April-June quarter, compared to ₹347 crore a year earlier. However, this marked a sharp improvement from the ₹870 crore loss in the January-March quarter. Revenue also dipped, with the company reporting ₹828 crore in Q1, down from ₹611 crore in the previous quarter. The company's annual event, Sankalp 2025, scheduled for August 15, is expected to lay out Ola Electric's future roadmap as it navigates the next phase of EV growth in India.
Economic Times
6 days ago
- Business
- Economic Times
Ola Electric to unveil 'India Inside' vision at August 15 event in Tamil Nadu
Synopsis The annual 'Sankalp' event will take place on August 15 at Ola Electric's Gigafactory in Krishnagiri. "The company is set to unveil its India Inside vision across its products and technologies during Sankalp 2025," the company said in the statement.
Time of India
6 days ago
- Business
- Time of India
Ola Electric to unveil 'India Inside' vision at August 15 event in Tamil Nadu
Synopsis The annual 'Sankalp' event will take place on August 15 at Ola Electric's Gigafactory in Krishnagiri. "The company is set to unveil its India Inside vision across its products and technologies during Sankalp 2025," the company said in the statement.
News18
6 days ago
- Business
- News18
Ola Electric to unveil India Inside vision at Aug 15 event in Tamil Nadu
New Delhi, Aug 5 (PTI) Ola Electric on Tuesday said it will unveil a roadmap for its products and technologies at the company's annual event to be held at its Tamil Nadu-based factory. The annual 'Sankalp' event will take place on August 15 at Ola Electric's Gigafactory in Krishnagiri. 'The company is set to unveil its India Inside vision across its products and technologies during Sankalp 2025," the company said in the statement. Sankalp 2025 is a bold step towards taking the EV and energy revolution to the next level, it said. It is the company's first public event at the Gigafactory, the country's first lithium-ion cell manufacturing facility, the statement added. PTI MSS MSS SHW view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
