🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Ola Electric subsidiary resolves insolvency dispute with Rosmerta Group

EntrackrEntrackr · 3m ago
Ola Electric subsidiary resolves insolvency dispute with Rosmerta Group
Medial

Ola Electric subsidiary resolves insolvency dispute with Rosmerta Group The dispute began when the Rosmerta Group filed insolvency petitions on March 16 under Section 9 of the Insolvency and Bankruptcy Code. Ola Electric Mobility Limited has settled a legal issue involving its subsidiary, Ola Electric Technologies Private Limited, and its vehicle registration service provider, Rosmerta Digital Services Ltd. In a recent update to the National Stock Exchange (NSE) and BSE, Ola Electric said that all outstanding payments have been cleared. As part of the agreement, Rosmerta has asked the National Company Law Tribunal (NCLT) in Bengaluru to withdraw the case. Ola Electric also stated that there are no further disagreements between the two parties and reaffirmed its commitment to strong business partnerships and the timely resolution of any future issues. "With the receipt of INR 26,75,24,339/- which consists of the entire claim raised before NCLT, Rosmerta Group companies are withdrawing its petitions before the NCLT, Bengaluru," said a Rosmerta Digital spokesperson. "No further causes of action exist between Rosmerta Group and Ola Electric, whose relationship shall now be governed by the Settlement Agreement executed between them." The dispute began when the Rosmerta Group filed insolvency petitions on March 16 under Section 9 of the Insolvency and Bankruptcy Code. The petition was filed with the NCLT Bengaluru Bench, claiming that Ola Electric Technologies Pvt Ltd had not paid for services provided by the creditor. It requested the court to start insolvency proceedings against the company. Last month, Ola Electric said it sold over 25,000 electric two-wheelers in February 2025, maintaining its 28% market share in the segment. However, the sales numbers on Vahan — a government database managed by the Ministry of Road Transport and Highways — did not match the company’s claim. Ola Electric clarified that the mismatch was due to ongoing negotiations with its vehicle registration vendors. The company said the backlog caused by the data mismatch has been cleared, but the government has requested more information on the matter.

Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12

EntrackrEntrackr · 5m ago
Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12
Medial

Voler Car Limited is set to launch its SME initial public offering (IPO) on February 12, 2025, aiming to raise Rs 27 crore (approximately $3.2 million). According to the press release, the IPO comprises 30,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 85-90 per share. The lot size for the IPO is 1,600 equity shares, requiring a minimum investment of Rs 1,44,000 for investors looking to participate. The SME IPO will be processed through the 100% book-building method. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment. GYR Capital Advisors Private Limited is the Book Running Lead Manager of Voler Car IPO, while KFin Technologies Limited is the registrar to the issue. The IPO will be open from February 12, 2025 to February 14, 2025. The issue proceeds will be utilized for funding working capital requirements, general corporate expenses, and IPO-related costs. Founded in 2010 by Pawan Parasrampuria and Vikas Parasrampuria, Voler Car specializes in providing employee transportation services for large MNCs, IT, and ITeS companies across major Indian cities. As per its investor memorandum, the company operates a fleet of over 2,500 vehicles, completing 425,000 trips annually across nine cities in India. During the first six months of the ongoing fiscal year (H1 FY25), Voler Car Limited registered an operating revenue of Rs 21.49 crore with a positive bottom line of Rs 2.48 crore. However, they recorded a revenue of Rs 30.89 crore with a profit of Rs 3.56 crore during the previous fiscal year (FY24).

Solarium Green Energy's Rs 105 Cr SME IPO opens on Feb 6

EntrackrEntrackr · 5m ago
Solarium Green Energy's Rs 105 Cr SME IPO opens on Feb 6
Medial

Turnkey solar solutions provider Solarium Green Energy is set to launch its SME initial public offering (IPO) on February 6, 2025, aiming to raise Rs 105.04 crore (approximately $12.5 million). According to the press release, the IPO comprises 55,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 181-191 per share. The lot size for the IPO is 600 equity shares, requiring a minimum investment of Rs 1,41,600 for investors looking to participate. 46% of the total share allocation (26,05,000 shares) is reserved for Qualified Institutional Buyers. High Net-Worth Individuals (HNIs) will receive 7,82,400 equity shares, while market makers will be allocated 2,86,8000 shares. Retail investors will account for 33.17% of the total share allocation. The IPO issue will be open from 06th February to 10th February. According to the company, the net proceeds from the IPO will be utilized to meet working capital requirements and to address general corporate purposes. Founded by Ankit Garg, Solarium Green Energy Limited specializes in turnkey solar solutions. It offers services such as design, engineering, procurement, testing, installation, commissioning, and comprehensive operation and maintenance (O&M). The company claims to have executed 11,195 residential rooftop projects, 172 commercial and industrial (C&I) projects, and 17 government projects during April 2021 to September 2024. Solarium has reported a revenue of Rs 177.80 crore with net profits of Rs 15.59 crore during the fiscal year ended March 2024. Meanwhile, in H1FY25 (the first half of the ongoing fiscal), its revenue was recorded at Rs 81.99 crore with net profits of Rs 7.55 crore. The firm achieved this growth without any venture or institutional funding. Solarium, which competes with Zunroof, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy, has become the first company from the Indian startup ecosystem to launch an SME IPO in 2025. Last year, Trust Fintech, TAC Security, and Menhood also went public through the SME route.

Download the medial app to read full posts, comements and news.