On Saturday, March 15th, Rosmerta Digital Services announced that its partner, Ola Electric Technologies, will face potential solvency. The company stated that during their regulatory submissions, they filed a solvency petition against Ola Electric under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC).
Insolvency Petition Filed by Rosmerta Digital Services
Rosmerta Digital Services presented its petition to the Bengaluru Bench Of the National Company Law Tribunal. They claimed that Ola Electric failed to pay what it owed for the services provided. For these reasons, Rosmerta Digital requested for the Corporate Solvency Resolution Process (CRIP) to be initiated against Ola immediately.
Ola Electric denied the allegations and said, “(We will) take all necessary and appropriate measures to safeguard its interests and challenge the claims in the aforementioned case.” These allegations from Rosmerta Digital follow the announcement made by Ola last month about renegotiating its agreements with partners—Rosmerta Digital Services Pvt Ltd and Shimnit India Pvt Ltd.
Today, Ola Electric opened their shares for 49.98, a piece, a 1.2% drop compared to the previous close of 50.51.
Ola Electric Share Price in Today’s Market
At 10:20 a.m., Ola Electrics traded their shares for Rs. 47.51 each. It is nearly 5% lower than the opening rate. And 6.1% lower than its previous close. According to the reports and estimates on Money Control, the current market capitalization shows cores; the UC Limit is 60.61, and the LC Limit is 40.41.
Company Financials
The EV manufacturing company released its Q3 financials for the FY2024-25 on February 7th. According to the data, The company recorded Rs. 1,045 crore of revenue from operations, a 19.36% decrease compared to Rs. 1,296 crore in the same quarter of the previous year. Net Losses also increased to Rs. 564 crore from Rs. 376 crore in the previous year’s third quarter. As per VAHAN data for the third quarter, Ola Electric continued to lead the electric two-wheeler market with a 25.5% market share.
Recent News About Ola Electric
- In January 2025, Ola Electric received a warning from SEBI for publishing company information on social media prior to officially releasing it to its investors.
- In March 2025, Ola Electric missed a milestone target for establishing a battery manufacturing plant in Tamil Nadu under the production-linked incentive (PLI) scheme. It was pointed out by the GoI.
Ola Electric Share Price Target
Amidst the fluctuating market and share prices, a few analysts say it is difficult to predict the Ola Electric share price target. However, some analysts suggested a potential range between Rs. 73.86 and Rs. 101, while a few predicted a range between Rs. 240 and Rs. 300
Should You Buy, Sell, Or Hold?
“Hold” is the rating given by most analysts on Trendlyne and Money Control. However, 29% of market experts on Money Control suggest buying, and 14% suggest selling. Before investing in Ola Electric, consider its long-term performance and consult your analyst to make the perfect move.
