Ola Electric Mobility Limited announced a significant leadership transition in its finance department during a board meeting held on January 19, 2026. The company has appointed Mr. Deepak Rastogi as its new Chief Financial Officer, effective January 20, 2026, while simultaneously noting the resignation of the outgoing CFO, Mr. Harish Abichandani.

Board Meeting Outcomes

The board meeting, which commenced at 07:00 PM IST and concluded at 07:20 PM IST on January 19, 2026, addressed the CFO transition as part of its key business considerations. The company communicated these developments to both the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the SEBI Listing Regulations.

Outgoing CFO's Departure

Mr. Harish Abichandani submitted his resignation as Chief Financial Officer due to personal reasons, with his tenure concluding at the end of January 19, 2026. In his resignation communication, he expressed gratitude for the opportunity to be part of Ola's journey under the company's leadership. The board placed on record its appreciation for his contributions during his tenure with the organization.

New CFO Profile and Expertise

Mr. Deepak Rastogi brings extensive experience to his new role as CFO and Key Managerial Personnel. His professional background spans over 30 years across large, complex, and capital-intensive organizations in multiple sectors.

Professional Background

Key Competencies

Mr. Rastogi's expertise encompasses several critical areas for Ola Electric's continued growth:

• Financial Leadership: P&L leadership and strategic financial management
• Capital Markets: Fund-raising, IPO readiness, and investor relations
• Mergers & Acquisitions: Cross-border M&A and equity transactions
• Transformation: Business transformation and value creation initiatives
• Governance: Risk management and institutional governance frameworks

Transaction Experience and Global Exposure

The new CFO has advised and led equity transactions worth approximately $1 billion, including IPO and cross-border M&A activities in recent years. His international experience spans multiple regions including India, China, ASEAN, Europe, Sweden, USA, and the Middle East, providing him with a global perspective on business operations and capital markets.

Regulatory Compliance

The company has fulfilled all regulatory requirements in connection with this leadership transition. The appointment and resignation details have been disclosed in compliance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and relevant stock exchange circulars. Mr. Rastogi is not debarred from holding office by any SEBI order or other regulatory authority, and he is not related to any director of the company.

The outcome of the board meeting has been made available on the company's website at the investor relations section, ensuring transparency and accessibility for all stakeholders.

Ola Electric Mobility announced that it has secured Bureau of Indian Standards (BIS) certification for its शक्ति 9.1kWh residential battery energy storage system. The certification marks a crucial regulatory milestone for India's first domestically designed, engineered, and manufactured residential BESS solution powered by 4680 Bharat Cells.

Certification Details and Standards Compliance

The BIS license was granted in conformance to IS 16242 (PART1) : 2025/ IEC 62040-1: 2017 standards, tested by a BIS recognized testing laboratory. The शक्ति system underwent comprehensive safety evaluations covering multiple critical parameters:

Product Specifications and Delivery Timeline

The शक्ति system offers automotive-grade safety with high-efficiency performance and zero running costs. Key technical features include instant 0 ms changeover time, wide input voltage range of 170V-270V for appliance protection, and IP67-rated batteries tested for dust, water, and monsoon conditions. Deliveries are scheduled to start by end-January 2026.

Market Positioning and Applications

The system can power various appliances including air conditioners, refrigerators, induction cookers, farm pumps, and communication equipment. With backup capacity of up to 1.50 hours on full load and fast charging capabilities, शक्ति positions itself as a comprehensive alternative to conventional lead-acid inverters and diesel generators.

An Ola Electric spokesperson emphasized the certification's significance: "With the BIS certification of शक्ति 9.1kWh, we are ready to deliver our first residential BESS units. This is an important step in our journey as we reimagine how India will store and consume energy."

Distribution and Availability

The शक्ति systems are available through Ola Electric's direct-to-customer network, including the company website and over 4,000 Ola Electric stores across India. The company maintains the largest company-owned network of automotive experience centres in the country, supported by manufacturing at the Ola Futurefactory in Tamil Nadu and R&D operations spanning India, the UK, and the US.