SEBI Warns Ola Electric for Disclosure Norms Violation

The Securities and Exchange Board of India (SEBI) issued an administrative warning to Ola Electric Mobility for violating the Listing Obligations and Disclosure Requirements (LODR) regulations, particularly Regulation 4(1)(h). 

On December 2, 2024, Ola’s chairman Bhavish Aggarwal announced plans for a four-fold retail expansion on social media before notifying stock exchanges.

The information was shared with exchanges at 1:36 PM (BSE) and 1:41 PM (NSE), hours after the social media post at 9:58 AM.

SEBI emphasized that listed entities must prioritize timely disclosures on exchanges to protect stakeholder interests. Ola has been warned to avoid recurrence, improve compliance, and present corrective actions to its board.