SEBI probes Bhavish Aggarwal over Ola Electric's ₹999.74cr raise
Ola Electric's plan to raise ₹999.74 crore is facing heat from SEBI.
The regulator is looking into founder Bhavish Aggarwal's public statements, saying the company reported "confirmed orders" as if they were actual sales.
This has raised red flags about how transparent Ola Electric has been with its numbers.
SEBI, auditors question Ola Electric disclosures
On top of that, auditors have pointed out Ola Electric skipped required internal audits for fiscal 2026, and SEBI isn't convinced about the company's sales and order fulfillment statistics.
Even earlier, Aggarwal's social media teasers about new stores caused a stir by moving stock prices before official announcements.
Despite all this, Ola says the rights issue will help pay off debt and fund business needs, but its settlement with SEBI is still up in the air.