Ola Electric Mobility Limited has accepted the resignation of Abhishek Jain as its Company Secretary and Compliance Officer. The departure is effective from the end of business hours on August 28, 2026.

Jain cited new professional opportunities and career aspirations as the reason for his exit. The company disclosed the move pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

The intimation was signed by Deepak Rastogi, Chief Financial Officer of Ola Electric Mobility Limited. The filing confirms that a copy of Jain’s resignation letter has been enclosed with the regulatory submission.

The company stated that the intimation would also be hosted on its official website. No immediate replacement was named in the disclosure.

Ola Electric Mobility announced on August 28, 2026, that it has received a sanction order from the Ministry of Heavy Industries for ₹95.81 crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme). The incentive pertains to the Demand Incentive for FY27 and will be disbursed through IFCI Limited, the designated Central Nodal Agency.

This payment represents the third consecutive year Ola Electric has received support under the scheme. The company previously secured ₹366.78 crore for FY25, announced in December 2025, and ₹73.74 crore for FY24, announced in March 2025. The current sanction aligns with the terms and conditions of the PLI-Auto Scheme as amended by the government.

What the Numbers Show

The PLI incentive trajectory reveals significant volatility in payout amounts despite consistent eligibility. While the FY27 sanction of ₹95.81 crore confirms continued compliance with scheme requirements, it stands in sharp contrast to the ₹366.78 crore received for FY25. This divergence suggests that incentive disbursements are heavily dependent on variable metrics such as incremental sales or production volumes specific to each fiscal period, rather than a fixed annual grant structure. The drop from FY25 to FY27 indicates a potential normalization or fluctuation in the underlying performance metrics driving the demand incentive calculation.

An Ola Electric spokesperson stated that the sanction endorses the company’s manufacturing capabilities and commitment to building world-class EV technology in India. The incentive recognizes sustained efforts in scaling domestic production and deepening localisation within the electric mobility value chain.

The PLI-Auto Scheme aims to strengthen domestic manufacturing and enhance India’s global competitiveness in the auto sector. Ola Electric operates the Ola Futurefactory in Tamil Nadu and maintains a Bengaluru-based Battery Innovation Centre, supporting its vertically integrated manufacturing model.