India, Oct. 27 -- Japanese tech investor SoftBank has sold another 1.2% stake in Ola Electric through a series of open market transactions between January 6 and October 22, reducing its holding in the electric two-wheeler maker to 11.7%.

Its investment vehicle, SVF II Ostrich (DE) LLC, sold 5.55 Cr shares during the period, leaving it with 54.15 Cr shares. The filing pegged its holding before the transactions at 12.9%, calculated using the company's latest share capital.

The SoftBank entity also sold 1.12 Cr rights entitlements during the period, even as Ola Electric looks to raise nearly Rs.1,000 Cr through a rights issue to repay debt and fund expansion.

SoftBank received 4.33 Cr rights entitlements against the 54.15 Cr shares it hel...