The Securities and Exchange Board of India (SEBI) has issued a warning to Ola Electric for prematurely sharing information on social media before officially disclosing it to investors, violating fair disclosure norms. The incident involved Ola’s founder, Bhavish Aggarwal, announcing new store openings on social media approximately four hours prior to informing investors through stock exchanges. SEBI emphasized the importance of timely and fair disclosure, noting that companies are required to disclose critical information within 12 hours of the event.
This warning adds to Ola Electric’s recent challenges, including scrutiny over service standards. Since its public listing in August, the company’s shares initially doubled but have since declined, losing market share to competitors like TVS Motor and Bajaj Auto’s ‘Chetak’ e-scooters. The share price has significantly dropped from its peak, reflecting growing investor concerns.
