Bhavish Aggarwal trolled on X over Ola Electric stake sale at record low prices

Ola Electric founder Bhavish Aggarwal has come under heavy criticism on X after disclosures related to the sale of his stake in the company surfaced, prompting a wave of sharp reactions from investors, market watchers and customers on social media.

Soon after news of the stake sale began circulating, multiple posts appeared on X expressing anger, disappointment and scepticism, particularly as Ola Electric’s stock continues to trade near its lowest levels.

Several users questioned the impact on retail investors who bought into the company at significantly higher prices. One post read, “The worst decision of life to invest in Ola Electric… people like us who blindly trusted his vision too. Do something now at least.”

Also read: Video alleging rat sighting at KFC Ghaziabad outlet triggers public outrage online

Others raised questions around who is absorbing the shares being sold. A widely shared post asked, “Who is buying all this Ola Electric that is being dumped every day? Are institutional investors really stepping in?”

Some users highlighted the steep decline in valuation from earlier levels. One post stated, “Feeling sad for those who bought the stock at ₹132. It is now trading below ₹32.”

The criticism also took on a sarcastic tone in places, with one user commenting, “Ola was supposed to become the next Zomato, but it has turned into a ‘cheap tomato’ instead.”

Concerns around governance and communication were also flagged. One post questioned the consistency of messaging, saying, “More stake was sold after the company said no further stake sale would happen. How will this be justified?”

Also read: Danish Khan steps down as SPNI’s Business Head for Sony LIV and Studio NXT

Customer grievances were also drawn into the broader conversation. In one post, a user complained, “My scooter has been lying in a service centre for almost two months. Either return my vehicle or refund at least part of the amount.”

Some posts attempted to analyse the transaction from an investor sentiment perspective. One such comment read, “If long-term private equity investors were confident, they would have bought even at ₹34. The fact that this went to the open market says a lot.”

The online backlash highlights growing unease among sections of investors and customers as Ola Electric grapples with stock market pressure and operational challenges. The company has not issued a specific response addressing the social media criticism at the time of publication.

Disclaimer: This article is based on user-generated content (UGC) from social media platform X. The views, opinions and allegations quoted belong solely to anonymous users and do not represent the views of this publication. Content has been reproduced for informational purposes only.