Ola Electric’s Sale Tactic: What Muhurat Mahotsav Really Sold

The festive season of Navratri 2025 coincided with India’s rollout of GST 2.0, a simplified tax structure. Brands across sectors jumped on the moment with aggressive discounts—but one campaign stood out: Ola Electric’s “Muhurat Mahotsav” sale.

In a viral LinkedIn post,Jayant Shilanjan Mundhra, ex-Bain & Co. consultant and author of Redemption of a Son, called out Ola Electric for “creating a brand new playbook on how to legally manipulate stock prices,” turning the sale into a lesson on perception, hype, and corporate disclosure.

The Festive Sale That Went Viral

During the sale, Ola offered scooters and bikes starting from ₹49,999. The catch? The company never disclosed how many units were available.

Just five minutes after launch, Ola filed a stock exchange update claiming all units were sold out. Media amplified the story, influencers hyped it further, and the buzz was instant. But the actual number of bikes sold? That remained a mystery.

“Even if they only put 5 scooters up for sale, their claim still works perfectly. And it generates incredible, free publicity and market hype,” Mundhra noted.

Hype Over Substance: How Perception Became Reality

By omitting the inventory number, Ola Electric created the illusion of overwhelming demand. Whether it was 5 bikes or 5,000, the “sold out in minutes” narrative worked brilliantly—generating free publicity and potentially boosting investor sentiment without changing business fundamentals.

This is marketing with a capital M—a mix of psychology, scarcity, and selective disclosure.

Media, Influence, and the Echo Chamber

Few media outlets questioned the opaque numbers; most celebrated the “instant sell-out.” Mundhra highlighted:

“The financial media is completely silent—only peddling Ola’s claim further. The BSE and NSE are silent. They don’t dare ask how this filing provides investors with any real, business-sensitive information.”

It’s a masterclass in perception management, and a cautionary tale on how corporate filings can be used as PR tools.

A Wake-Up Call for Corporate Disclosure

The incident exposes gaps in India’s corporate disclosure regulations. Mundhra emphasizes that without clear norms on material information, companies could continue exploiting perception-driven filings, risking investor trust and market integrity.

Imagine a future where every consumer brand reports stock updates on flash sales—Zudio, Swiggy, Zomato. Mundhra warns:

“Let’s hope they would never do such a thing. But the precedent has been set today by Bhavish and Ola Electric.”

Long-Term Lessons for Brands

While GST reforms gave brands a legitimate reason to slash prices and attract buyers, the Ola episode reminds us that perception-driven tactics can backfire. Consumers today are more informed, skeptical, and vocal. A brand that plays too fast and loose with the truth may win headlines—but lose hearts.

In the long run, trust is harder to rebuild than hype is to generate. Companies in India’s booming EV and consumer tech sectors must ask: Is a short-term spike in attention worth the long-term erosion of credibility?

As GST 2.0 reshapes pricing and consumer behavior, brands have a golden opportunity to align marketing with transparency. Celebrate affordability, drive festive sales, yes—but do so with clarity, honesty, and respect for the consumer’s intelligence.

In the age of viral filings and influencer amplification, the real differentiator isn’t how loud you shout—it’s how clearly you speak.