Electric vehicle (EV) producer Ola Electric notified the exchanges on Wednesday, January 8, that the Securities and Exchange Board of India (SEBI), a market watchdog, had issued a letter warning the business about disclosure issues.
The social media announcement made by Ola CMD Bhavish Aggarwal prior to an official filing with the stock exchanges is the subject of the infraction. Ola’s filing with the deals showed.
“The company (Ola Electric) has received an administrative warning via email on January 7, 2025, issued by SEBI through its letter dated January 7, 2025,”.
Ola Electric’s share price plummeted 5% to ₹75.20 on the BSE after this revelation. Ola Electric’s shares were down 2.56% at ₹77.13 at 12 p.m.
What Was The SEBI Warning to Ola For?
The submission states that Ola received an administrative warning from SEBI for violating SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, namely regulations 4 (1) (d), 4 (1) (f), 4 (1) (h), and 30 (6). The filing said
“channels disseminating information shall ensure equal, timely, and cost-efficient access to relevant information for all investors,”.
It further stated that Ola Electric’s operations, and finances. The other activities are unaffected by the notice.
