Market regulator Sebi has warned Ola Electric Mobility for violating listing norms by sharing store expansion plans on social media before informing stock exchanges, according to a regulatory filing by the company.
In a letter to the company by Sebi, shared on BSE by Ola Electric Mobility, the market regulator took exception to the dissemination of information regarding plans for a four-fold expansion of the company-owned store network by December 20, 2024.
"It is observed that whereas the aforesaid information was disseminated on the stock exchanges by you at 1:36 PM (BSE) and 1:41 PM (NSE) on December 2, 2024, it was announced beforehand on X (formerly Twitter) at 9:58 AM on December 2, 2024, by Bhavish Aggarwal, your promoter and Chairman-cum-Managing Director," the letter said.
Copyright © 2017 Indian Grapevine a unit of Integrated Media Enterprises
