Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- Shares of Ola Electric Mobility, an Indian two-wheeler manufacturer, fell to a record low on Monday after a creditor of one of its units filed a lawsuit alleging a payment default.
The shares dropped 7.46% to 46.83 rupees on Monday.
The lawsuit has been filed against Ola Electric Technologies, a wholly owned subsidiary of Ola Electric Mobility, by Rosmerta Digital Services, a provider of vehicle registration services.
Rosmerta Digital Services, over the weekend, claimed that Ola Electric Technologies defaulted on payment for services it had provided and is seeking to initiate a winding-up petition.
Ola Electric Mobility has denied the allegations and stated that it is seeking legal advice on the matter.
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