Ola Electric hires former Puravankara exec as new CFO

Indian electric two-wheeler maker Ola Electric on Monday named Deepak Rastogi as its new finance chief, effective January 20.

Rastogi, who most recently was the group finance chief of property developer Puravankara, will succeed Harish Abichandani, Ola said.

Under Abichandani, who had been the CFO of Ola Electric since November 2023, the company went public in a blockbuster debut in 2024.

But since then, it has grappled with stalling sales which led the firm to cut its fiscal 2026 revenue forecast in November last year.

Once commanding 50% of India's e-scooter market, Ola Electric has been overtaken by rivals such as Bajaj Auto and TVS Motor, which have expanded distribution and launched similarly priced models.