Ola Electric Shares Crash 40%: CFO Resigns as SoftBank Offloads Stake; Is ₹30 the Final Floor?

It’s Thursday, January 22, 2026, and if you’re holding Ola Electric shares, you’re probably staring at the screen wondering where the floor is. The stock has been in a freefall, wiping out nearly ₹9,000 crore in market value over the last three months.

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The thing is, it’s not just “market volatility.” It’s a perfect storm of technical breakdowns, a mass exodus of leadership, and big-money investors heading for the exits. Let’s be real—the “EV darling” of 2024 is currently fighting for its life on the charts. Or nothing.

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Ola Electric: Field Notes from the Sell-Off

It’s an ongoing situation where the momentum isn’t just slow; it’s backwards. Here’s the ground reality of why the “buy the dip” crowd is staying quiet:

• The CFO Exit: Harish Abichandani resigned as CFO on January 19, 2026. He’s the second major exit in two months after the Cell Business head left in December. The thing is, when the guy in charge of the money leaves “abruptly,” investors panic. Deepak Rastogi (ex-Puravankara) has stepped in, but he’s walking into a firestorm. Those too.

• The “SoftBank” Exit: Masayoshi Son isn’t waiting around. SoftBank just trimmed its stake again, down to 13.53%. They’ve offloaded over 94 million shares since September. When your second-largest shareholder is selling in the open market, it creates a “supply overhang” that kills any recovery. And here’s the kicker—Tiger Global and Alpha Wave have almost entirely cashed out. Or nothing.

• Market Share Bleed: In 2024, Ola owned 36.7% of the market. By the end of 2025? It plummeted to 16.1%. Legacy players like TVS and Bajaj didn’t just catch up; they surged. Let’s be real—customers are tired of service backlogs, and they’re voting with their wallets.

• The Technical Floor: The stock is hugging its all-time low of ₹30.79. Analysts like Ajit Mishra are saying “don’t touch it.” Every time it tries to bounce toward ₹40, it gets smacked back down by sellers. It’s an ongoing situation where the “downward trendline” is the only thing the stock is respecting.

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Ola Electric (OLAELEC) Tracker: Jan 22, 2026

And Here’s the Kicker…

The thing is, there is a tiny “glimmer of hope.” The new “Hyperservice” program actually cleared 77% of service requests on the same day in December. Market share in the second half of last month actually ticked up to 12%. But let’s be real—operational wins don’t matter if the founders are selling stake to pay off personal loans (Bhavish Aggarwal sold 2.2% in December). Those too.

One side comment—the 4680 Bharat Cell deliveries started in November. If that tech actually works and brings down costs, Ola might have a “V-shaped” recovery in 2027. But for now? It’s a “wait and watch” or nothing.

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End…

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