SRIVARU Holding faces delisting from Nasdaq due to failure to meet bid price requirement.

From GlobeNewswire: 2025-01-21 14:50:00

SRIVARU Holding Limited, based in the Cayman Islands, faces delisting from Nasdaq due to failure to meet the $1.00 bid price requirement. The Company’s shares were traded on a reverse split adjusted basis but still fell short. Despite appealing the decision, trading will be suspended on January 22, 2025. The Company attributes the share price decline to warrant holders selling shares to manipulate volume and distort stock value. SRIVARU is working on a settlement with these holders to address the issue and believes there are extenuating circumstances warranting reconsideration of its listing status.

SRIVARU Holding Limited, the parent company of SRIVARU Motor Private Ltd., specializes in designing and manufacturing premium electric motorcycles in India. The company emphasizes innovation, sustainability, and performance, offering vehicles with advanced safety features and superior cost of ownership compared to competitors. With a focus on redefining the future of mobility, SRIVARU aims to provide an exceptional riding experience for the next generation of riders. The Company also has a manufacturing subsidiary to support its vision for sustainable and innovative mobility.



Read more at GlobeNewswire: SRIVARU Holding Received Nasdaq Panel Decision on Delisting