Ola Electric files application to settle SEBI probe: ET

Ola Electric Mobility Ltd has reportedly filed an application to settle the ongoing investigation by the Securities and Exchange Board of India (SEBI) concerning its February 2025 sales data disclosures, according to reports. The probe was initiated after a significant discrepancy emerged between the company’s reported sales figures and the data available on VAHAN, which tracks vehicle registrations. Ola Electric had claimed to have sold 25,000 electric two-wheelers in February 2025, while VAHAN data showed only 8,600 registrations for the same period.

The company attributed the discrepancy to a temporary delay in registration processes, citing ongoing discussions with vendors responsible for vehicle registration. Ola Electric also clarified that the 25,000 units referenced in its filings represented customer orders with full payments, including pre-orders for its Gen 3 and Roadster X models. The company emphasized that revenue is recognized only after registration and delivery are completed.

The regulatory scrutiny has also extended to other areas, including potential insider trading allegations and internal control weaknesses highlighted in the company’s FY25 annual report. Ola Electric has been cooperating with investigations from multiple government departments, including the Ministry of Heavy Industries and the Ministry of Road Transport and Highways.

The outcome of the SEBI probe and related regulatory actions will likely influence investor sentiment and the company’s future disclosures. Ola Electric’s stock has faced volatility in 2025, with a year-to-date decline of approximately 42%. The company’s recent compliance filings and product launches, such as the S1 X+ 5.2 kWh scooter, indicate ongoing efforts to strengthen its market position.