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Ola Electric Business Head for Cell Vishal Chaturvedi resigns

EntrackrEntrackr · 19d ago
Ola Electric Business Head for Cell Vishal Chaturvedi resigns
Medial

Snippets Ola Electric Business Head for Cell Vishal Chaturvedi resigns According to the regulatory filing, Chaturvedi stepped down with effect from December 31, 2025, citing personal commitments as the reason for his departure. Ola Electric Mobility has informed stock exchanges that Vishal Chaturvedi, Business Head for Cell and part of its senior management personnel, has resigned from his role. According to the regulatory filing, Chaturvedi stepped down with effect from December 31, 2025, citing personal commitments as the reason for his departure. This is the first senior-management level resignation disclosed by Ola Electric in 2025. In the same period last year, the company had seen multiple top-level exits, including Chief Marketing Officer Anshul Khandelwal and Chief Technology Officer Suvonil Chatterjee, who stepped down in December 2024. Ola Electric’s cell division remains a key part of its vertical integration strategy. The company has been scaling the use of its indigenously developed 4680 Bharat Cell across select scooter and motorcycle models. As part of this effort, Ola Electric recently received government certification under CMVR norms for its Roadster X+ electric motorcycle, which is powered by the 4680 Bharat Cell battery pack. The certification allows the company to begin deliveries and supports a wider rollout of its in-house cell technology. In related developments, Ola Electric recently secured Rs 366.78 crore in incentives under the government’s Production Linked Incentive (PLI) Scheme for Automobile and Auto Components for the financial year ended March 2025. The incentives are linked to the company’s manufacturing and localisation initiatives.

Ola Electric appoints new compliance officer

EntrackrEntrackr · 1y ago
Ola Electric appoints new compliance officer
Medial

Ola Electric appoints new compliance officer Bengaluru-based Ola Electric Mobility Limited announced the appointment of Pritam Das Mohapatra as the new company secretary and compliance officer. The board of directors approved the decision during their meeting on December 30, 2024, with the appointment taking effect immediately. The appointment follows the resignation of Pramendra Tomar two months ago, who stepped down as the company's secretary and compliance officer due to personal reasons and commitments. Mohapatra brings over 14 years of experience in corporate laws, compliance, fundraising, IPO listings, and corporate governance. He is an associate member of the Institute of Company Secretaries of India. His previous experience includes roles at Merabo Labs Private Limited, ANI Technologies Private Limited, Ola Fleet Technologies Private Limited, and Zuari Infraworld India Limited. In his new role, Mohapatra will be responsible for overseeing the company’s regulatory compliance and governance framework, ensuring adherence to SEBI regulations and corporate governance standards. Last week, Ola Electric announced the resignation of two senior management personnel – Anshul Khandelwal, Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology and Product Officer – with immediate effect.

Ola Electric to lay off 1,000 employees: Report

EntrackrEntrackr · 10m ago
Ola Electric to lay off 1,000 employees: Report
Medial

Ola Electric to lay off 1,000 employees: Report Electric scooter manufacturer Ola Electric is reportedly cutting over a thousand employees and contract workers to curb mounting losses. As first reported by Bloomberg, this move is part of a larger restructuring effort focused on optimizing operations and steering the company toward profitability. In November, media reports highlighted that the Bengaluru-based company had laid off nearly 500 employees across various teams as part of a restructuring effort aimed at enhancing margins and improving profitability prospects. Entrackr has reached out to Ola Electric for comments. Besides layoffs, the firm has also seen the departure of top-level executives, including Anshul Khandelwal, Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology and Product Officers, in recent times. While Ola Electric has regained its market share in the two-wheeler electric vehicle segment, the company received a show cause notice from the Central Consumer Protection Authority (CCPA) in October last year due to a rise in consumer complaints, citing alleged violations of consumer rights, misleading advertisements, and unfair practices. For the quarter ending in December 2024 (Q3 FY25), the Bhavish Aggarwal-led company saw a 19.4% YoY revenue decline to Rs 1,045 crore. The company’s losses also rose 50% to Rs 564 crore during the period.

Bhavish Aggarwal sells 2% of his Ola Electric holding for Rs 92 Cr

EntrackrEntrackr · 1m ago
Bhavish Aggarwal sells 2% of his Ola Electric holding for Rs 92 Cr
Medial

Bhavish Aggarwal sells 2% of his Ola Electric holding for Rs 92 Cr Ola Electric founder and CEO Bhavish Aggarwal has sold a small portion of his stake in the company through a bulk deal on the stock exchange. According to exchange disclosures, Aggarwal sold 2,62,56,748 shares, representing around 2% of his existing shareholding, at a price of Rs 34.99 per share. The transaction was valued at nearly Rs 92 crore. Aggarwal had also pledged an additional portion of his shares this month. Exchange filings show that a 3.04% stake was pledged on December 5, aggregating his total pledged shareholding to 13.3% prior to the sale. After this transaction, the company’s statement said Aggarwal undertook a one-time, limited monetisation of a small portion of his personal stake to fully repay a promoter level loan of Rs 260 crore. This will result in the release of all previously pledged 3.93% shares, removing a key overhang. “This action is taken to eliminate all promoter pledges, which can introduce avoidable risk and volatility. It is part of the founder's conviction that Ola Electric should operate with zero pledge overhang, and he should fully unwind the leverage,” the company added through the release. Prior to the transaction, Aggarwal held 1,323,960,029 shares in Ola Electric, translating to a 30.02% stake in the company. Following the sale, his shareholding has come down to 1,29,77,03,281 shares, or about 29.4%. In terms of EV sales, Ola slipped to fourth position for November with its market share shrinking to 7.19%, a stunning reversal from the top spot it held during the same month a year earlier. The company also registered a harsh 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of the ongoing fiscal year FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore. Ola Electric’s stock touched its lowest level ever earlier this month, representing a 70% erosion in value within just twelve months. It was at its peak as the firm stock hit an all-time high of Rs 100.40 on Dec 17, 2024. As of December 16, Ola Electric’s shares were trading at Rs 34.20 apiece, giving the company a market capitalization of Rs 15,085 crore ($1.6 billion).

Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session

EntrackrEntrackr · 1m ago
Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session
Medial

Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session Bhavish Aggarwal, founder and CEO of Ola Electric, sold 4,19,03,706 shares worth around 0.95% of the company’s equity through a bulk deal on the exchanges. The shares were offloaded at Rs 33.96 apiece, making the transaction value close to Rs 142 crore, based on stock exchange disclosures. This is the second consecutive trading session in which Aggarwal has reduced his shareholding in the company. His total share sales have cumulatively reached Rs 234 crore, with Rs 92 crore worth of shares being offloaded in the previous session. Following the bulk deal, Ola Electric stated that Aggarwal has undertaken a one-time and limited monetisation of his personal shareholding to fully repay a promoter-level loan of Rs 260 crore, resulting in the release of all previously pledged 3.93% shares. The company clarified that this transaction has no impact on Ola Electric’s operations, governance, or strategic direction. Despite this, the company’s stock hit an all-time low, ending at Rs 32.80 apiece and valuing the company at a market capitalisation of Rs 14,467 crore. Ola slipped to fourth position in terms of 2W EV Sales for November with its market share shrinking to 7.19%. It registered a 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore.

Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale

EntrackrEntrackr · 1m ago
Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale
Medial

Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale Bhavish Aggarwal has offloaded shares for the third straight trading session, selling 2.83 crore equity shares at an average price of Rs 31.9 per share, amounting to Rs 90.28 crore, according to exchange disclosures. The latest transaction comes even as Ola Electric’s stock slid to a fresh 52-week low during the day, intensifying investor concerns around sustained promoter selling. With this tranche, Aggarwal has now sold over 9.6 crore shares in three consecutive sessions, taking the total value of stake sales this week to nearly Rs 325 crore. Earlier, he had sold shares worth Rs 92 crore on December 16, followed by a larger Rs 142 crore divestment on December 17. Ola Electric has previously clarified that the stake sales are part of a one-time monetisation exercise aimed at repaying a Rs 260-crore promoter-level loan and fully unwinding pledged shares, and do not signal any dilution of promoter control or long-term commitment to the company. The company had indicated that proceeds from the earlier tranches were being used to clean up the promoter’s personal balance sheet and remove a pledge overhang. However, the continued selling, particularly at a time when the stock is trading near record lows, has kept the counter under pressure. Ola Electric’s shares have now fallen sharply from their post-listing levels, reflecting a combination of promoter stake sales, weak market sentiment, and ongoing concerns around EV demand, competitive intensity, and execution challenges in the two-wheeler segment. Ola slipped to fourth position in terms of 2W EV Sales for November with its market share shrinking to 7.19%. The company also registered a harsh 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of the ongoing fiscal year FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore.

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