Ola Electric disclosed a pending SEBI notice on its 25,000-unit sales claim in filings for its Rs 999.74 crore rights issue.

SEBI sent the company a show-cause notice on 10 April 2026. It is examining what Ola said about its sales, store network and electric motorcycle plans between its August 2024 listing and May 2025.

SEBI alleges this broke its rules against unfair trade practices and its listing disclosure rules.

The 25,000 figure sits at the centre. In February 2025, Ola said it had sold more than 25,000 electric two-wheelers.

SEBI questioned that claim and alleged the company switched from reporting registrations to reporting orders without making the change clear.

The regulator also pointed to Ola’s December 2024 claims of fast network growth, which it says did not match the physical stores.

It further alleged that Ola announced the start of Roadster X deliveries in May 2025, though none took place that month.

Ola and founder Bhavish Aggarwal applied in April to settle the case without admitting or denying SEBI’s findings.

They offered to pay an amount that SEBI will decide. That application is still pending.

Ola also warned investors that weak internal systems could lead to some business data being reported wrongly.

The company did not say its numbers are wrong. It only flagged the risk. These disclosures come with the rights issue papers.

A rights issue lets existing shareholders buy new shares, usually at a lower price. Ola wants to raise up to Rs 999.74 crore by offering about 37 crore partly paid shares at Rs 27 each.

Investors pay 60% of that price, or Rs 16.20 a share, when they apply. The offer runs from 22 October to 30 October.

Nothing is settled yet. SEBI has not announced a decision, and any settlement amount remains unknown.

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