Ola Electric Shares Fall 5% Lower Circuit Following FIR Against CEO, Senior Officer

Bengaluru, October 20, 2025 – Ola Electric Mobility Ltd shares price (NSE: OLAELCTRIC)  fell 5 percent to ₹54.22, reaching the lower circuit limit in Monday’s trading following reports that a police case had been lodged against the company’s senior officials.

As per a report by PTI reporter Elezabeth Kurian, Bengaluru Police have filed an FIR against Ola Electric CEO Bhavish Aggarwal and top officer Subrata Kumar Das after an employee’s alleged suicide, that of engineer K. Aravind. The FIR mentions harassment and salary issues as the probable reasons for the incident.

Stock Performance

As of 3:34 PM IST on October 20, 2025, the stock closed at ₹54.95, down ₹2.13 or 3.73% from the previous close of ₹57.08, with an intraday high of ₹57.80 and a low of ₹54.22, and a VWAP of ₹54.93. The stock witnessed 49.49 lakh shares on the offer side with no buyers in sight, showing extreme panic selling. The stock has now fallen by almost 47 percent from its 52-week high of ₹102.50 on December 4, 2024.

Market Context

Ola Electric, which went public on August 9, 2024, is included in the NIFTY Smallcap 250 index and is present in the 2/3-wheeler EV space. The financials of the company now show zero EPS in the last four trailing quarters.

About the Company

Ola Electric Mobility Ltd is an Indian electric vehicle leader specialising in electric two-wheelers, battery technology, and EV infrastructure. It has been consolidating its position in the domestic EV market with export intentions and new product launches in premium scooters and e-bikes.

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