Ola, in an exchange filing on Monday, said that the Board noted the resignation of Harish Abichandani from the position of CFO of the company with effect from the close of January 19, 2026. Abichandani cited personal reasons behind his resignation.
Replacing Abichandani is Deepak Rastogi assuming office from today, January 20, 2026. “Deepak Rastogi is not related to any director of the company and isn’t barred from holding the office of director by any SEBI order or any other such authority,” the company said in a regulatory filing January 19.
The development gains significance as this is the second resignation in two months. In December, Vishal Chaturvedi, Business Head – Cell tendered his resignation citing personal reasons.
In a separate development last week, the company announced the rollout of its first residential Battery Energy Storage System (BESS) product, ‘Shakti’, from its Gigafactory in Krishnagiri, Tamil Nadu.
The launch marks a significant milestone in Ola’s scale-up of its indigenous 4680 Bharat Cell platform and marks the company’s formal entry into the residential BESS market.
Shakti is powered by Ola’s locally designed, engineered, and manufactured 4680 Bharat Cells, making it India’s first residential BESS of its kind. The product is aimed at transforming how Indian households, farms, and businesses access and manage energy. It is designed to function as a portable, on-demand energy resource.
Ola Electric reported vehicle registrations of 9,020 units in December as per VAHAN data, with increased market share to 9.3% in December over 7.2% in November 2025 on the back of Hyperservice, its focused service transformation programme.
In addition to this, the company’s market share in the second half of December 2025, as per VAHAN data, further increased to nearly 12%, indicating a clear uptick in demand and market share gains, Ola Electric said in a statement.
At about 11 am, Ola Electric shares were trading at Rs 33.6, lower by 6% from the last close on the BSE.
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