Ola Electric shares hit record low after unit faces insolvency petition

Its shares fell as much as 3.9% to 48.53 rupees as of 9:38 am IST.

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.