Shares of Ola Electric Mobility Limited declined 6% in early trade after the company announced a key leadership change at the top of its finance function. The electric vehicle maker informed stock exchanges that its Chief Financial Officer, Harish Abichandani, has resigned.
In an exchange filing submitted under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Ola Electric stated that its Board of Directors, in a meeting held on January 19, 2026, approved the appointment of Deepak Rastogi as the new Chief Financial Officer. His appointment will take effect from January 20, 2026.
According to the disclosure, Deepak Rastogi will also be designated as a Key Managerial Personnel and will be part of the company’s senior management team. Ola Electric further clarified that he is not related to any of the directors of the company and has not been debarred by SEBI or any other statutory authority from holding managerial positions. The company confirmed that the appointment complies with all applicable SEBI circulars and regulatory requirements for listed entities.
At the same board meeting, the directors took note of the resignation of Harish Abichandani, which will be effective from the close of business hours on January 19, 2026. The company stated that the resignation was tendered due to personal reasons. The Board also placed on record its appreciation for his contributions during his tenure as Chief Financial Officer.
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