The letter from the Securities and Exchange Board of India (SEBI), disclosed by Ola Electric late on Tuesday, stated that the corporate had failed present “equal and well timed entry” to its buyers of details about a deliberate retailer growth.
Last month, Ola Electric’s founder, Bhavish Aggarwal, shared information about new retailer openings in a put up on social media platform X and to buyers about 4 hours later via the inventory exchanges.
Publicly-listed firms are required to reveal any data first to buyers via trade filings and no more than 12 hours after the occasion takes place.
“The above violations have been considered very significantly. You are hereby warned,” SEBI stated in its letter.
Ola Electric, which went public in August final 12 months, opened 3,200 new shops and repair centres final month to increase its attain and deal with rising complaints on its service requirements.
The letter from SEBI is the most recent such regulatory scrutiny on the corporate following a authorities company’s investigation into its service requirements.
The points have forged a shadow on Ola’s stellar itemizing, which noticed its shares double in worth in lower than per week.
It has additionally misplaced market share to rivals TVS Motor and Bajaj Auto’s ‘Chetak’ e-scooters in latest months.
Its shares are at present down about 1.8 % at 77.74 rupees, practically 50 % beneath their all-time excessive hit in August final 12 months. They had fallen as a lot as 5 % earlier within the day.
© Thomson Reuters 2025
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
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