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Sebi Warns Ola Electric Over Lapses in Disclosure Norms
The New Indian Express Tiruchy
|January 09, 2025
MARKETS regulator Sebi on Wednesday issued an administrative warning to electric two-wheeler maker Ola Electric Mobility for violating disclosure norms.
The company went public last August in an initial share sale that raised 6,145.56 crore. However, since then the company has been losing its market share continuously.
Following the news, Ola Electric shares fell 4% to ₹76.14 but later recovered and closed flat at ₹79.54.
The warning came after Bhavish Aggarwal, chairman and MD of the firm, had on December 2, 2024, shared details of Ola's plans for a four-fold expansion of its retail points on a social media platform, and not after disclosing this to the exchanges.
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