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News on Medial
Ola Electric shares hit record low after unit faces insolvency petition
Economic Times
·
4m ago
Medial
Ola Electric Mobility's shares dropped over 6% to a record low after it disclosed an insolvency petition against one of its units by creditor Rosmerta Digital Services, citing default in payments. The stock has fallen about 38% since its IPO. Ola denies the claims and seeks legal advice. Facing challenges like declining sales and regulatory scrutiny, Ola is restructuring its operations. The company posted a significant loss in the October-December quarter.
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Ola Electric’s subsidiary faces insolvency plea over payment dispute
Economic Times
·
4m ago
Medial
Rosmerta Digital Services filed an insolvency plea against Ola Electric's subsidiary over payment disputes. The petition claims non-payment for services, seeking a corporate insolvency resolution process. Ola Electric disputes the claim and plans legal challenges. The issue traces back to vendor renegotiations leading to reduced vehicle registration figures. Meanwhile, Ola Electric faces internal restructuring, financial losses, layoffs, and market share decline, but expects positive Ebitda next quarter amid cost-cutting efforts.
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Ola Electric, Mobikwik shares fall sharply amid stock market’s bear run
Economic Times
·
4m ago
Medial
Amid a bearish trend on Dalal Street, new-age stocks like Mobikwik and Ola Electric have seen significant declines. Mobikwik's shares dropped due to the expiration of a lock-in period, falling 61% from its post-listing high. Ola Electric faced a record low amid insolvency petitions, with its stock price plummeting 60% over six months. The challenging stock market climate has been harsh on recent IPOs, affecting several tech companies' public offering prospects.
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Ola Electric Teases Launch Of Electric Bike On August 15
Inc42
·
12m ago
Medial
EV startup, Ola Electric, hinted at the launch of an electric bike during its annual event on August 15. In a video shared on social media, the company teased the rough sketch and silhouette of the upcoming ebike model. Recently, shares of Ola Electric listed on exchanges, and after a lukewarm start, jumped 20% to hit the upper circuit.
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Why Ola Electric's sales numbers do not hold up
CNBC
·
4m ago
Medial
Ola Electric faced scrutiny for discrepancies between reported sales figures and government vehicle registrations, with only 8,600 registered compared to the claimed 25,000 sales in February. The company attributed this to a temporary registration backlog. Despite plans to resolve the issue by March's end, Ola Electric is losing market share to competitors like Ather Energy. The company’s stock fluctuated due to these issues and an insolvency petition against its subsidiary, reflecting broader market challenges.
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Ola Electric shares slide 5% after CTO and CMO resign amid leadership exodus
Economic Times
·
7m ago
Medial
Ola Electric's shares fell 4.6% after the resignations of two senior executives, CTO Suvonil Chatterjee and CMO Anshul Khandelwal, amid a wider leadership exodus. Both joined Ola Cabs before moving to Ola Electric. Their departures follow recent top-level exits and layoffs affecting 300-400 employees across various departments. Despite citing personal reasons for their resignations, this turnover signals challenges for Ola Electric, which also faces declining market share and increased customer complaints.
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Ola Electric subsidiary resolves insolvency dispute with Rosmerta Group
Entrackr
·
4m ago
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.
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SUGAR Fosters Ties With Unicommerce To Boost Upselling, Cross-Selling Networks
Inc42
·
8m ago
Medial
BPC startup has partnered with Unicommerce to improve its return order processes by using the omnichannel retail management system. The collaboration will also enable BPC to offer "ship-from-store" service to its customers. This partnership was announced one day after Unicommerce's shares hit a record low of INR 175.75.
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Ola's Battery Unit Gets IFCI Notice for Missing PLI Targets: Will It Pay Penalty Now?
OutlookIndia
·
5m ago
Medial
Ola Cell Technologies, a unit of Ola Electric Mobility, received a notice from IFCI for not meeting the Production Linked Incentive (PLI) Advanced Chemistry Cell (ACC) scheme targets. IFCI highlighted a missed milestone under this scheme. As a result, Ola Electric faces a daily penalty, impacting its eligibility for incentives. Ola Electric has begun trial production and aims to become the first to manufacture lithium-ion cells in India under this scheme.
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Government asks ARAI to probe Ola Electric's sales figure mismatch, consumer complaints
Economic Times
·
4m ago
Medial
The Heavy Industries Ministry has tasked the Automotive Research Association of India (ARAI) with investigating discrepancies in Ola Electric's sales figures and consumer complaints. Ola Electric reported selling over 25,000 units in February, but Vahan portal registrations were only 8,652. ARAI will examine these discrepancies and consumer issues, submitting a report within 15 days. Ola Electric attributes the registration lag to agency negotiations and aims to resolve it by March. The company faces additional scrutiny and potential insolvency proceedings.
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Ola Electric Slips Below INR 100 Mark Amid Broader Market Crash
Inc42
·
10m ago
Medial
Shares of Ola Electric, a major player in the emobility sector, dropped over 4% in early trading, falling below INR 100. The stock hit a low of INR 97.85 before recovering slightly to close at INR 99.70. This decline was in line with the broader market, as both Sensex and Nifty 50 experienced their worst day in nearly two months due to a sell-off in domestic stocks.
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