Ola Electric shares hit record low after unit faces insolvency petitionIts shares fell as much as 3.9% to 48.53 rupees as of 9:38 am IST.
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A man walks past the logo of Ola Electric
Credit: Reuters File Photo
Shares of Ola Electric Mobility fell more than 3 per cent to a record low on Monday, after the company said that one of its units faced an insolvency petition from a creditor.
Its shares fell as much as 3.9 per cent to 48.53 rupees as of 9:38 am IST.
Rosmerta Digital Services, a vehicle registration service provider and an operational creditor of Ola Electric Technologies, has filed a petition against the unit alleging default of payment for its services, Ola Electric said in an exchange filing on Saturday.