Rastogi, who most recently served as the group chief financial officer of real estate developer Puravankara, will succeed Harish Abichandani at Ola Electric, the company said in a statement.
Just a few months back, Deepak Rastogi had stepped down from his role at Puravankara Ltd., one of India’s leading real estate developers, with a focus on residential and commercial projects across key urban markets. He cited personal reasons behind his resignation.
From previous roles to education — All about Rastogi
Deepak Rastogi holds a Master of Business Administration (MBA) in Finance and International Business from SP Jain Institute of Management & Research (SPJIMR), where he studied from 2003 to 2005.
He is also a qualified Chartered Accountant (CA) from the Institute of Chartered Accountants of India, giving him a strong foundation in finance and accounting.
Prior to his association with Puravankara, Rastogi worked with Deepak Fertilisers And Petrochemicals Corp. Ltd. as the President and Group CFO. He has also served in multiple senior roles with companies including Tata AutoComp Systems, The Timken Company and Castrol.
According to his LinkedIn profile, he has a proven track record in tax & treasury, legal entity restructuring, shared services, and technology centres, as well as diverse international experience across various sectors.
Ola Electric loses market share
Under the leadership of Ola Electric’s previous CFO, Abichandani, who held the position from November 2023 until now, the company successfully went public in a highly anticipated, blockbuster debut in 2024.
However, since its public listing, Ola Electric has faced challenges with stalling sales, a situation that prompted the company to revise and lower its fiscal 2026 revenue forecast in November last year.
There was a time when the automotive manufacturer commanded a 50% market share in India’s e-scooter market, but over time, Ola Electric’s market share was overtaken by rivals such as Bajaj Auto and TVS Motor. These rivals have expanded distribution and launched similarly priced models, Reuters reported.
Share price trend of the company
The Bhavish Aggarwal-led EV maker slipped 4% to close at ₹35.73 on Monday’s trading session. The company’s stock posted a one-month gain of approximately 6%, according to data from the Bombay Stock Exchange (BSE).
Over the past year, Ola Electric’s stock has plummeted by more than 50%, including a nearly 40% decline over the last six months, according to the data.
