Ola Electric shares tank 5% as CFO Harish Abichandani resigns; key details
Ola Electric shares fell 5.28 per cent to Rs 33.89 on BSE. The stock hit a 52-week low of Rs 30.79 on December 18, 2025.
- Jan 20, 2026,
- Updated Jan 20, 2026 10:11 AM IST
Shares of Ola Electric Mobility Ltd fell over 5 per cent in Tuesday's trade after its Chief Financial Office (CFO) Harish Abichandani resigned with effect from close of January 19, citing personal reasons. Ola Electric shares fell 5.28 per cent to Rs 33.89 on BSE. The stock hit a 52-week low of Rs 30.79 on December 18, 2025. The scrip is down 22 per cent in the past two weeks and 38 per cent in the past three months.
In his resignation letter, Abichandani said: "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!. Request if I be relieved by EOD on January 19, 2026. Wishing you and the Team all the very best!."
In a filing to stock exchanges, Ola Electric said its board noted the resignation of Harish Abichandani from the position of CFO of the company with effect from close of January 19. "The board placed on record its appreciation for his contribution during his tenure," it said.
In addition, Ola Electric said its board has approved the appointment of Deepak Rastogi as new CFO of the company. He would be a key managerial personnel and part of senior management personnel with effect from Tuesday.
Rastogi has led multinational and Indian companies in 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.
"He brings deep expertise in P&L leadership, capital markets, fund-raising, M&A, IPO readiness, strategy, transformation, and governance. He has advised and led equity transactions worth around $1 billion, including IPO and cross border M&A in recent years," Ola Electric said.
"He adds value to companies by combining strategic foresight with execution rigor. Deepak strengthens capital structure and liquidity, builds investor confidence, enables inorganic and organic growth, and institutionalises governance and risk management," it added.
Shares of Ola Electric Mobility Ltd fell over 5 per cent in Tuesday's trade after its Chief Financial Office (CFO) Harish Abichandani resigned with effect from close of January 19, citing personal reasons. Ola Electric shares fell 5.28 per cent to Rs 33.89 on BSE. The stock hit a 52-week low of Rs 30.79 on December 18, 2025. The scrip is down 22 per cent in the past two weeks and 38 per cent in the past three months.
In his resignation letter, Abichandani said: "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!. Request if I be relieved by EOD on January 19, 2026. Wishing you and the Team all the very best!."
In a filing to stock exchanges, Ola Electric said its board noted the resignation of Harish Abichandani from the position of CFO of the company with effect from close of January 19. "The board placed on record its appreciation for his contribution during his tenure," it said.
In addition, Ola Electric said its board has approved the appointment of Deepak Rastogi as new CFO of the company. He would be a key managerial personnel and part of senior management personnel with effect from Tuesday.
Rastogi has led multinational and Indian companies in 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.
"He brings deep expertise in P&L leadership, capital markets, fund-raising, M&A, IPO readiness, strategy, transformation, and governance. He has advised and led equity transactions worth around $1 billion, including IPO and cross border M&A in recent years," Ola Electric said.
"He adds value to companies by combining strategic foresight with execution rigor. Deepak strengthens capital structure and liquidity, builds investor confidence, enables inorganic and organic growth, and institutionalises governance and risk management," it added.