Olectra Greentech made a significant announcement after the market closed on Friday. The company announced that the resignation of KV Pradeep from the position of Managing Director has been accepted, effective July 4, 2025.
Olectra Greentech Ltd., a leading electric vehicle manufacturer in India, provided a major update to its investors and shareholders after the close of the trading session on Friday. The company informed that its current Managing Director, KV Pradeep, has resigned from his position, which has been accepted by the company's board.
Along with this change, new appointments have also been made to several positions within the company, including Chairman, Director, and working-level roles.
Resignation Effective from July 4
In the information sent to the stock exchange, the company stated that KV Pradeep's resignation will become effective with the market close on July 4, 2025. He held three key positions in the company: Chairman, Managing Director, and Director.
Following his resignation, the company has taken several important decisions to ensure that there is no disruption in operations.
Search for a New Managing Director Underway
The company has also clarified that a suitable candidate is currently being sought for the vacant Managing Director and CEO position left by KV Pradeep's resignation. Until this appointment is made, the company's current team will be responsible for operations on an interim basis.
PV Krishna Reddy Appointed as Chairman
The Board of Olectra Greentech has appointed PV Krishna Reddy as the new Chairman of the company. His appointment has become effective from July 5, 2025. The company has expressed confidence that Krishna Reddy's experience and strategic thinking will help in taking the company forward.
P. Rajesh Reddy to Become Whole-Time Director
Along with this, the company has made another important appointment. P. Rajesh Reddy, currently in the role of Non-Executive Director, has now been appointed as a Whole-Time Director. This appointment is effective from July 5 and is subject to shareholder approval.
The Board has expressed confidence that Rajesh Reddy's appointment will ensure stability in management and continuity in the company's operations.
Share Closed with a Decline in the Stock Market
On Friday, a slight decline was observed in Olectra Greentech's share. The company's share on the BSE fell by 0.75 percent to close at ₹1,200. However, the share showed movement within a limited range throughout the day's trading.
Looking at the year, the company's shares have seen a decline of about 33 percent. The share had crossed its 52-week high in March 2025, but it has been under continuous pressure since then.
Company's Position and Business
Olectra Greentech Limited is one of the leading electric vehicle manufacturers in India. The company is primarily active in the manufacturing of electric buses and other commercial EV vehicles. Besides, the company is also working on green energy and environmentally friendly transport solutions.
In recent years, companies have had to adapt their strategic approaches according to the changing competition in the electric vehicle sector and changes in government policies. In this context, changes in management are also considered a step in this direction.
