Ola Electric Shares Snap 3-Day Losing Streak; Insolvency Petition Against Subsidiary Watched

On 18 March 2025, Ola Electric Mobility witnessed a significant surge in its share price. The stock opened at ₹46.37 and reached a high of ₹49.84, reflecting a strong upward movement. Compared to the previous close of ₹46.93, the stock gained ₹2.77, at 9:40 AM on the NSE, marking a 5.9% increase.

However, the stock had declined by 7.09% in the previous trading session, bringing the total three-day decline to over 9% before this rebound.

Details of Insolvency Petition Against Ola Electric Subsidiary

Ola Electric Technologies Private Limited, a wholly owned subsidiary of Ola Electric Mobility Limited, is facing an insolvency petition filed by an operational creditor over alleged payment defaults. The case is currently before the National Company Law Tribunal (NCLT) Bengaluru.

According to Ola Electric Mobility’s regulatory filing on March 15, 2025, M/s Rosmerta Digital Services Limited, an operational creditor, has filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Ola Electric Technologies Private Limited.

The petition alleges that the company defaulted on payments for services rendered by Rosmerta Digital Services Limited, Ola Electric Mobility stated in a press release on the stock exchanges.

Ola Electric’s Response

Ola Electric has strongly disputed the claims and stated that it has sought appropriate legal advice. The company maintains that it will take all necessary legal steps to protect its interests and object to the allegations.

The official disclosure from Ola Electric Mobility Limited assures stakeholders that it will challenge the petition.

Conclusion

While Ola Electric has firmly disputed the claims and plans to challenge the petition, investors are closely monitoring further updates. The situation continues to unfold, with market participants keeping a watchful eye on any new developments.

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