Electrical two-wheeler maker Ola Electrical on Monday introduced the appointment of Deepak Rastogi as the corporate’s new finance chief, with the function set to take impact from 20 January 2026, Reuters reported.
Rastogi, who most just lately served because the group chief monetary officer of actual property developer Puravankara, will succeed Harish Abichandani at Ola Electrical, the corporate stated in a press release.
Only a few months again, Deepak Rastogi had stepped down from his function at Puravankara Ltd., one among India’s main actual property builders, with a concentrate on residential and industrial initiatives throughout key city markets. He cited private causes behind his resignation.
From earlier roles to schooling — All about Rastogi
Deepak Rastogi holds a Grasp of Enterprise Administration (MBA) in Finance and Worldwide Enterprise from SP Jain Institute of Administration & Analysis (SPJIMR), the place he studied from 2003 to 2005.
He’s additionally a professional Chartered Accountant (CA) from the Institute of Chartered Accountants of India, giving him a robust basis in finance and accounting.
Previous to his affiliation with Puravankara, Rastogi labored with Deepak Fertilisers And Petrochemicals Corp. Ltd. because the President and Group CFO. He has additionally served in a number of senior roles with firms together with Tata AutoComp Programs, The Timken Firm and Castrol.
In accordance with his LinkedIn profile, he has a confirmed observe document in tax & treasury, authorized entity restructuring, shared companies, and expertise centres, in addition to numerous worldwide expertise throughout numerous sectors.
Ola Electrical loses market share
Underneath the management of Ola Electrical’s earlier CFO, Abichandani, who held the place from November 2023 till now, the corporate efficiently went public in a extremely anticipated, blockbuster debut in 2024.
Nonetheless, since its public itemizing, Ola Electrical has confronted challenges with stalling gross sales, a state of affairs that prompted the corporate to revise and decrease its fiscal 2026 income forecast in November final yr.
There was a time when the automotive producer commanded a 50% market share in India’s e-scooter market, however over time, Ola Electrical’s market share was overtaken by rivals equivalent to Bajaj Auto and TVS Motor. These rivals have expanded distribution and launched equally priced fashions, Reuters reported.
Share worth pattern of the corporate
The Bhavish Aggarwal-led EV maker slipped 4% to shut at ₹35.73 on Monday’s buying and selling session. The corporate’s inventory posted a one-month acquire of roughly 6%, in accordance with information from the Bombay Inventory Trade (BSE).
Over the previous yr, Ola Electrical’s inventory has plummeted by greater than 50%, together with an almost 40% decline over the past six months, in accordance with the information.
