Ola Electric Mobility has announced the appointment of Mr. Abhishek Jain as the Company Secretary and Compliance Officer, effective September 12, 2025. The decision was made during a board meeting held on the same day, following recommendations from the Nomination and Remuneration Committee.

Key Appointment Details

• Appointee: Mr. Abhishek Jain (ICSI Membership No. A62027)
• Position: Company Secretary and Compliance Officer
• Effective Date: September 12, 2025
• Designation: Key Managerial Personnel

Professional Background

Mr. Jain brings a wealth of experience and qualifications to his new role:

• Associate Member of the Institute of Company Secretaries of India (ICSI)
• Holds a Diploma in Corporate Governance from ICSI
• Commerce graduate with extensive experience in corporate secretarial functions, regulatory compliance, and governance frameworks

Career Highlights

• Associated with Ola Electric since 2024
• Contributed to significant corporate actions, including:
  • Fund-raising initiatives
  • Acquisitions
  • Corporate restructurings
  • Compliance matters under SEBI regulations

Company Statement

The board of directors expressed confidence in Mr. Jain's appointment, citing his expertise and experience as valuable assets to Ola Electric Mobility. The company emphasized that Mr. Jain is not related to any Director of the Company, ensuring independence in his role.

About Ola Electric Mobility

Ola Electric Mobility, formerly known as Ola Electric Mobility Private Limited, is a key player in the electric vehicle industry. The company's commitment to strengthening its corporate governance is evident through this strategic appointment.

The appointment of Mr. Abhishek Jain as Company Secretary and Compliance Officer underscores Ola Electric's focus on maintaining robust corporate governance practices and ensuring compliance with regulatory requirements as it continues to grow in the dynamic electric mobility sector.

Shares of Ola Electric Mobility witnessed a sharp decline on Wednesday, falling nearly 8% to Rs 63.71 amid concerns over the potential impact of a recent government decision on the electric two-wheeler market.

SoftBank Stake Reduction

SoftBank Group has sold a 2.15% stake in Ola Electric between July 15 and September 2, reducing its holding from 17.83% to 15.68%. The disposal involved 94,943,459 equity shares through SVF II OSTRICH (DE) LLC. This news, coupled with other market factors, contributed to the decline in Ola Electric's share price.

GST Reduction on ICE Two-Wheelers

The Indian government has announced a reduction in the Goods and Services Tax (GST) on two-wheelers with engine capacity up to 350 cc from 28% to 18%, effective September 22. This move, aimed at providing relief to consumers in the traditional internal combustion engine (ICE) two-wheeler segment, is expected to weigh on electric two-wheeler demand sentiment.

Market Reaction

The news triggered a significant sell-off in Ola Electric shares, with over 58 crore shares changing hands on the National Stock Exchange (NSE). The stock's performance marks a notable shift from its recent rally, which saw it surge 73% from its 52-week low of Rs 39.60 reached in July.

Analyst Outlook

Despite the day's decline, some analysts maintain a positive outlook on Ola Electric. Price targets ranging from Rs 90 to Rs 100 have been cited, with expectations of support from the new electric vehicle (EV) policy.

Recent Developments

Ola Electric recently received approval under the government's Production Linked Incentive (PLI) scheme for its Gen 3 S1 scooter lineup. This approval covers all seven Gen 3 S1 variants, which contribute to more than half of the company's total sales. The company is now eligible for incentives ranging from 13% to 18% of sales value until 2028, potentially offsetting some concerns about the GST reduction on ICE vehicles.

Financial Performance

In its most recent financial report, Ola Electric disclosed:

While the company faced a significant year-on-year revenue decline, it did see an improvement in gross margins.

As the electric vehicle market continues to evolve, investors will be closely watching how Ola Electric navigates the changing landscape, balancing government incentives for EVs against new pricing dynamics in the traditional two-wheeler segment.