Ola Electric shares fall 5% after media report revealed raids, seizures for non-compliance of rules

Ola Electric shares fell 5% after reports of regulatory raids and showroom non-compliance.

Bloomberg claims 95% of Ola's showrooms lack required trade certification.

Authorities conducted raids, seized vehicles, and issued notices over alleged violations.

Ola Electric shares have dropped 66% from their August 2024 peak.