Ola Electric Gets Show-Cause Notice, Shares Down 43%

CCPA Issues Show-Cause Notice

The Central Consumer Protection Authority (CCPA) has raised concerns over misleading advertisements and rising consumer complaints against Ola Electric.

Service Issues Highlighted by Kamra

A public spat between CEO Bhavish Aggarwal and comedian Kunal Kamra further drew attention to Ola's service issues, worsening stock sentiment.

Share Value 43% Below All-Time High

Ola Electric’s stock, now 43% below its all-time high of ₹157.5, is under pressure, though it remains 18% above its IPO price.

Revenue Growth Amid Losses

Despite a 32% revenue increase in Q1 FY25 to ₹1,644 crore, Ola Electric's net loss widened to ₹347 crore from ₹267 crore last year.

15-Day Timeline for Response

The CCPA has given Ola Electric 15 days to respond to the show-cause notice, impacting investor confidence and further pressuring stock prices.