The shares of Ola Electric Mobility Limited were trading at ₹75.33 down by ₹3.83 or 4.84 per cent on the NSE today at 10.10 a.m.

Ola Electric Mobility Limited received an administrative warning from the Securities and Exchange Board of India (SEBI) for violating disclosure norms, according to a regulatory filing on January 7, 2025. The market regulator flagged the company for first announcing business expansion plans on social media rather than through stock exchanges.

The violation stems from a December 2, 2024, incident in which Ola Electric’s Chairman and Managing Director Bhavish Aggarwal announced plans for a fourfold expansion of company-owned stores on X (formerly Twitter) at 9:58 a.m., nearly four hours before the information was disclosed to the BSE and NSE.

SEBI cited violations of multiple provisions under the Listing Obligations and Disclosure Requirements (LODR) regulations, including failure to provide timely information to stock exchanges and ensure equal access to information for all investors. The regulator warned of potential enforcement action if such violations recur.

In a separate development, the Karnataka High Court granted Ola Electric a six-week extension to respond to the Central Consumer Protection Authority’s (CCPA) show cause notice. This extension relates to the company’s ongoing case with CCPA, which was first disclosed to exchanges in October 2024.

Ola Electric, listed on NSE and BSE, has been directed by SEBI to present the warning letter to its board of directors and take corrective measures. The company stated it would ensure compliance with regulations and exercise caution to prevent similar incidents in the future.

This regulatory scrutiny comes as Ola Electric, which recently transformed from a private to a public limited company, navigates its responsibilities as a listed entity. The company has confirmed it will submit its response to the CCPA within the extended timeframe.