Motilal Oswal Mutual Funds Raise Ola Electric Holding to 6.27%

Key Takeaways

• Motilal Oswal-managed mutual funds increased their Ola Electric holding to 29.03 crore shares by September 2026.
• Their disclosed stake rose to 6.27% from 2.40% in September 2025.
• Motilal Oswal group entities also applied for ₹64.41 crore of shares in Ola Electric’s rights issue.

Mutual funds managed by Motilal Oswal increased their exposure to Ola Electric Mobility substantially over the 12 months to September 2026.

Stock-exchange data showed that the funds held 29.03 crore Ola Electric shares, equivalent to 6.27% of the company, in September 2026. A year earlier, the holding stood at 10.60 crore shares, or 2.40%.

At prevailing market prices cited in the report, the September holding was valued at approximately ₹869 crore.

The increase took place despite a prolonged decline in Ola Electric's share price.

The stock fell from ₹56.95 at the end of September 2025 to ₹36.92 at the end of September 2026, a decline of roughly 35%. Motilal Oswal funds also participated in Ola Electric's ₹780.24 crore qualified institutional placement in June, with two funds subscribing to shares worth ₹75 crore.

The group's exposure is also being supplemented through Ola Electric's latest rights issue.

Motilal Oswal Financial Services and associated entity Calliope applied for rights shares with a combined subscription value of ₹64.41 crore at an issue price of ₹27 per share.

The transactions come as Ola Electric seeks additional capital following a period of weaker operating performance.

Revenue from operations fell to ₹2,253 crore in FY26 from ₹4,514 crore a year earlier, while the company reported a net loss of ₹1,833 crore. Vehicle deliveries declined to 1,73,794 units from 3,07,846 units.

The pressure continued into the June quarter of FY27, when revenue declined 45% year-on-year to ₹455 crore. The company's quarterly net loss narrowed to ₹336 crore from ₹428 crore.

The latest disclosure is a portfolio-holding development rather than an indication of future performance. Mutual fund holdings can change over time as schemes alter their portfolios in line with their stated investment mandates.