New Delhi, April 28 -- Ola Electric share price declined nearly 3% on Monday as Ather Energy IPO opened for public subscription. Ola Electric shares declined as much as 2.94% to Rs.48.40 apiece on the BSE.

Ola Electric Mobility shares came under selling pressure on April 28 following the launch of the initial public offering (IPO) of rival Ather Energy. Both Ola Electric and Ather Energy are pure-play electric two-wheeler manufacturers, competing aggressively with each other as well as with legacy automobile companies in the electric vehicle (EV) segment.

These new-age EV companies continue to report significant losses while also losing market share. Ola Electric reported a net loss of Rs.1,406 crore during the nine months of FY25, comp...