Ola Electric files application to settle Sebi probe

Ola Electric has filed a settlement application with Sebi on April 23 to resolve a show-cause notice issued on April 10 over alleged misleading disclosures between its August 2024 listing and May 2025. Sebi flagged major gaps, including the company's claim of over 3,200 co-located stores versus an actual 452 outlets as of February 2025, and alleged that 25,207 electric two-wheeler figure represented orders rather than actual sales, with only 5,341 vehicles registered and 2,848 generating recognised revenue. The regulator also questioned the Roadster X motorcycle programme, noting claimed May 2025 deliveries did not actually occur. Ola is seeking closure without admission or denial of facts to avoid prolonged litigation.