Sebi warns Ola Electric for disclosure lapses
markets regulator has warned Ola Electric against sharing company-related information on social media before disclosing it to investors, adding to a slew of problems for the electric two-wheeler maker.
The letter from the Securities and Exchange Board of India (SEBI), disclosed by Ola Electric late on Tuesday, said that the company had failed provide «equal and timely access» to its investors of information about a planned store expansion.
Last month, Ola Electric's founder, Bhavish Aggarwal, shared news about new store openings in a post on social media platform X and to investors about four hours later through the stock exchanges.
Publicly-listed companies are required to disclose any information first to investors through exchange filings and not more than 12 hours after the event takes place.
«The above violations have been viewed very seriously. You are hereby warned,» SEBI said in its letter.
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