Ola Electric shares hit record low after insolvency petition

Shares of Ola Electric Mobility fell to a record low on Mar.17 following news of an insolvency petition filed against one of its subsidiaries.

The company’s stock dropped by 3.9%, reaching 48.53 rupees (US$0.558).

The petition was submitted by Rosmerta Digital Services, an operational creditor and vehicle registration service provider.

It alleges that Ola Electric Technologies failed to meet its payment obligations, as disclosed in an exchange filing by Ola Electric on Mar.15.

Recent Ola Electric Mobility developments

Timeline
17-Mar-2025 ⚖️ Ola Electric faces insolvency petition over payment dispute Rosmerta files insolvency petition against Ola Electric Ola disputes claims, seeks legal advice to contest
17-Jul-2023 ⚡ In 50 Words: Ola Electric may go public early on rapid growth, CEO reveals Ola Electric may go public sooner than planned Leading India’s e-scooter market with 38% share
01-Nov-2019 🚗 Kia, Hyundai’s $300m investment in Ola, Ola Electric gets regulatory approval Hyundai, Kia to invest $300M in Ola parent company Joint venture aims for India-specific electric vehicles
17-Sep-2019 🚗 Hyundai, Kia Motors to buy stake in India’s Ola Electric Hyundai and Kia seek stake in Ola Electric. CCA approval needed for the acquisition deal.

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