Ola Electric shares slide 8% after CFO Harish Abichandani resigns

Shares of Ola Electric Mobility Ltd fell over 8 per cent in Tuesday’s trade after the company announced the resignation of its Chief Financial Officer Harish Abichandani, citing personal reasons.

The stock declined 8 per cent to Rs 32.87 on the BSE. Ola Electric shares have been under pressure in recent weeks. The stock is down 22 per cent over the past two weeks and has fallen 20 per cent in the last six months. It had touched a 52-week low of Rs 30.79 on December 18, 2025.

CFO steps down

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In his resignation letter, Abichandani said it had been a “wonderful experience” to be part of Ola’s journey. He thanked the board and the Ola team for their support and requested to be relieved by the end of the day on January 19, 2026.

“It has been a wonderful experience to be part of Ola's journey under your visionary leadership. I thank the entire Ola Team and the Board for their support and guidance and wish Ola success,” he said in the letter.

Board response

In a filing to the stock exchanges, Ola Electric said its board has taken note of Abichandani’s resignation from the position of CFO with effect from the close of January 19.

“The board placed on record its appreciation for his contribution during his tenure,” the company said.

New CFO appointed

Ola Electric also announced the appointment of Deepak Rastogi as the new Chief Financial Officer with effect from Tuesday. He will be part of the senior management team and will serve as a key managerial personnel.

Rastogi has held leadership roles across multinational and Indian companies. His previous stints include Puravankara Group, Deepak Fertilisers & Petrochemicals, Tata AutoComp Systems, The Timken Company, Alcatel, DuPont, Castrol, and Raymond. He has also served on the boards of several listed companies.

Experience and mandate

The company said Rastogi brings deep experience in P&L leadership, capital markets, fund-raising, mergers and acquisitions, IPO readiness, strategy, and governance. He has advised and led equity transactions worth around $1 billion, including IPOs and cross-border M&A deals.

“He strengthens capital structure and liquidity, builds investor confidence, and institutionalises governance and risk management,” Ola Electric said.