Ola Electric Mobility shares slump over 8% after its CFO resigns; all you need to know

The share was trading 7.47% lower at ₹33.06 per unit, as of 1:25 pm.

The scrip has plunged nearly 16% in the past week and more than 4% over the month. On a year-to-date basis, it has lost over 12%.

While the stock touched a 52-week low of ₹30.76 on December 18, 2025, it reached a year’s high of ₹80.80 per unit on February 1, 2025.

In a regulatory filing in post-market hours on Monday, the company said that its board of directors, at a meeting, noted and approved the resignation of Harish Abichandani from the position of Chief Financial Officer (CFO), with effect from the close of January 19, 2026.

Abichandani cited “personal reasons” as the rationale for resigning, the filing showed.

The board of directors also approved the appointment of Deepak Rastogi as the Chief Financial Officer, who will also be a Key Managerial Personnel and a part of the Senior Management Personnel, with effect from January 20, 2026.

Ratogi has over 30 years of experience across large, complex, and capital-intensive organizations across automotive, manufacturing, chemicals, fertilizers, mining, industrial products, and real estate, it added.

“A Chartered Accountant and MBA, he has successfully scaled and led finance functions for leading multinational and Indian companies in the capacity of President, Group CFO, Head of Finance for organisations including Puravankara Group, Deepak Fertilisers & Petrochemicals, Tata AutoComp Systems, The Timken Company, Alcatel, DuPont, Castrol, and Raymond. He has been on the Board of several listed companies, partnering closely with promoters, CMDs, and executive leadership teams,” the filing added.

Recent update

In a separate regulatory filing on January 15, the Bhavish Aggarwal-led firm secured the Bureau of Indian Standards (BIS) certification and licence for Ola Shakti in a 6 kW/9.1 kWh battery pack powered by 4680 Bharat cells.

Ola Shakti is the country's first residential BESS (Battery Energy Storage System) solution, which is designed, engineered, and manufactured in India.

As part of this certification, Shakti underwent a comprehensive set of electrical and mechanical safety-critical tests, including short-circuit and overload protection, safeguards against fire and thermal hazards, and protection from electric shock, the Bengaluru-based company said in a statement.

It also underwent environmental stress testing, sonic pressure hazard evaluation, mechanical hazard assessment, and other applicable tests in accordance with BIS standards, it added.

Ola Electric Mobility has a total market capitalisation of ₹14,586.61 crore, as of January 20, 2026, according to data on the NSE.