Srivaru Holding Ltd

Earnings data Q3 2024

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Srivaru Holding Ltd. engages in the provision of development of renewable energy for two-wheeled vehicles. The company was founded on June 16, 2021, and is headquartered in George Town, Cayman Islands.

GRAND CAYMAN, Cayman Islands, Nov. 18, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced progress in its efforts to gain compliance with Nasdaq listing standards. On September 18, 2024, the Company received a letter from the Office of the General Counsel of The Nasdaq Stock Market LLC (“Nasdaq”) confirming the Nasdaq Hearing Panel's (the “Panel”) decision to grant SRIVARU's request for continued listing on Nasdaq. This decision allowed the Company additional time to execute its compliance plan (the “Plan”), subject to the condition that SRIVARU demonstrate compliance with certain requirements for continued listing by November 14, 2024. The Panel would then evaluate the Company's progress and consider its request for additional time to complete the Plan.

SRIVARU Holding Completes the Interim Audit and Advances Plan to Comply with Nasdaq Listing Standards

GRAND CAYMAN, Cayman Islands, Oct. 31, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced the closing of its previously announced public offering of 106,250,000 units at a public offering price of $0.064 per unit. Each unit consists of one ordinary share and one warrant to purchase one ordinary share, which can be exercisable for two ordinary shares pursuant to an alternative cashless exercise provision. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 15,937,500 ordinary shares and 15,937,500 warrants to cover over-allotments at the public offering price, less the underwriting discount. The warrants will be exercisable on the date of shareholder approval at a price of $0.096 per share and will expire five years from the date of shareholder approval. The ordinary shares and accompanying warrants could only be purchased together in this public offering, but were issued separately and were immediately separable upon issuance. Gross proceeds to the Company, before deducting underwriting commissions and other offering expenses, were approximately $6.8 million.

SRIVARU (SVMH) Announces Closing of Upsized $6.8 Million Underwritten Public Offering

GRAND CAYMAN, Cayman Islands, Oct. 30, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced the pricing of its public offering of 106,250,000 units at a public offering price of $0.064 per unit. Each unit consists of one ordinary share and one warrant to purchase one ordinary share, which can be exercisable for two ordinary shares pursuant to an alternative cashless exercise provision. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 15,937,500 ordinary shares and 15,937,500 warrants to cover over-allotments at the public offering price, less the underwriting discount. The common warrants will be exercisable on the date of shareholder approval at a price of $0.096 per share and will expire five years from the date of shareholder approval. The ordinary shares and accompanying warrants can only be purchased together in this public offering, but will be issued separately and will be immediately separable upon issuance. Gross proceeds to the Company, before deducting underwriting commissions and other offering expenses, are expected to be $6.8 million. The offering is expected to close on October 31, 2024, subject to the satisfaction of customary closing conditions.

SRIVARU (SVMH) Announces Pricing of Upsized $6.8 Million Underwritten Public Offering

GRAND CAYMAN, Cayman Islands, Oct. 23, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced its expansion into the Indian State of Kerala with the launch of its PRANA 2.0 electric motorcycle through a new joint dealership with Electrogreen Motors in Thiruvananthapuram, Kerala's capital.

SRIVARU (SVMH) Expands to Kerala, a Leading State in EV Adoption in India, with Innovative Joint Dealership for PRANA 2.0 Electric Motorcycles in Thiruvananthapuram

GRAND CAYMAN, Caman Islands, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, announced today that it has successfully obtained certification from India's Central Motor Vehicles Rules (CMVR) agency for PRANA 2.0 models, which include the PRANA Grand and PRANA Elite. This regulatory approval marks a significant achievement in SRIVARU's mission to deliver innovative, eco-friendly transportation solutions to the rapidly expanding electric two-wheel vehicle market in India.

SRIVARU (SVMH) Secures Approval from India's Road Transport Authority for PRANA 2.0, Achieving Final Federal Technical Compliance: Paving the Way for Customer Deliveries

GRAND CAYMAN, Cayman Islands, Sept. 19, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) ("SRIVARU" or the "Company"), a leading innovator in the electric motorcycle market, today announced that it has received a favorable decision from the Nasdaq Hearings Panel (the “Panel”). The Panel's decision grants the Company's request for continued listing on Nasdaq, which we believe will provide SRIVARU the necessary time to implement its plan to regain compliance with Nasdaq's listing requirements.

SRIVARU Holding Limited Secures Nasdaq Panel Approval for Continued Listing Amid Compliance Efforts

Aims to increase production capacity to nearly 10,000 units per month by end of 2024 Plans to set up pan India sales network across key areas of India GRAND CAYMAN, Cayman Islands and COIMBATORE, India, Aug. 22, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced the formal launch of the PRANA 2.0 electric motorcycle at a major event in Chennai, India. Recently, there has been a remarkable surge in the interest of young individuals towards acquiring electric motorcycles in India.

SRIVARU Launches PRANA 2.0 Electric Motorcycle in Chennai, India

GRAND CAYMAN, Cayman Islands, July 26, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles today announced that on July 24, 2025, the Company received a staff determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of the determination of the Nasdaq staff (the “Staff”) that because the Company had not regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) (the “Rule”), the Company's ordinary shares are now subject to delisting from the Nasdaq Global Market. In addition, the Staff advised that the Company's warrants are subject to delisting pursuant to Listing Rule 5455(a). Unless the Company requests an appeal of this determination, the Company's ordinary shares and warrants would be scheduled for delisting from The Nasdaq Global Market at the opening of business on August 2, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.

SRIVARU Holding Limited Announces Receipt of Nasdaq Delisting Notification and Plans to Appeal

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The AI platform manages over 2,000 daily inquiries related to the PRANA 2.0 online booking launch The AI platform manages over 2,000 daily inquiries related to the PRANA 2.0 online booking launch

SRIVARU (SVMH) Deploys Advanced AI Platform to Manage Lead Generation Platform for PRANA 2.0 Electric Motorcycle

Srivaru (NASDAQ: SVMH ) stock is rocketing higher on Friday after the electric motorcycles company announced a launch for its PRANA 2.0. The PRANA 2.0 is an electric motorcycle made by the company with value in mind.

Why Is Srivaru (SVMH) Stock Up 122% Today?

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, June 14, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, announced today that on June 16th it will begin accepting paid reservations and bookings for its flagship product, the PRANA 2.0, a cutting-edge performance electric motorcycle engineered with a focus on value. This milestone represents a critical step toward revenue generation and anticipated broad market adoption of the Company's groundbreaking electric motorcycles.

SRIVARU (SVMH) Announces PRANA 2.0 Electric Motorbike will be Available to Order Online Beginning June 16th with First Shipments to Commence in early Q3 2024

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, June 12, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, announced today that it will hold an Extraordinary General Meeting of Shareholders on June 27, 2024 (the “Meeting”). The record date for eligibility to vote at the meeting was set by the board of directors as June 3, 2024. SRIVARU has posted a notice and proxy statement regarding the meeting, a proxy card and related materials on its website at www.svmh.ai/events/agm-egm/.

SRIVARU (SVMH) Announces Extraordinary General Meeting of Shareholders

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, May 31, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, today announced that it will be participating in the Spring MicroCap Rodeo Conference that will be held on Thursday, June 6, 2024 in New York City.

SRIVARU (SVMH) to Present at the Spring MicroCap Rodeo Conference on June 6th

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, May 28, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, today announced the completion of its cutting-edge manufacturing facility in Coimbatore, India. This milestone marks a significant achievement in SRIVARU's mission to revolutionize the e-motorbike industry in India.

SRIVARU (SVMH) Announces the Completion of State-of-the-Art Factory and Fully Automated EV Motorcycle Manufacturing Facility

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, May 20, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, today announced that Mohan Ramasamy, Chief Executive Officer of SRIVARU, participated in an interview with Proactiveinvestors.com.

SRIVARU (SVMH) CEO Mohan Ramasamy Discusses Latest Developments Related to PRANA 2.0 on Proactiveinvestors.com

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, May 14, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, today announced that its flagship model, the PRANA 2.0, has successfully completed Electromagnetic Compatibility (EMC) and Electromagnetic Interference (EMI) testing, marking a significant milestone in the vehicle's development and regulatory compliance process.

SRIVARU (SVMH) Announces Successful Completion of EMC/EMI Testing for PRANA 2.0 Electric Vehicle

Supply chain in place and vehicle submitted for road and safety certification Supply chain in place and vehicle submitted for road and safety certification

SRIVARU (SVMH) Completes Production Model of PRANA 2.0

Receives AIS 156 Certification for Lithium Iron Phosphate Battery Pack Ahead of Schedule Pioneering State-of-the-Art Battery Technology through BYD Collaboration GRAND CAYMAN, Cayman Islands and COIMBATORE, India, April 17, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a prominent provider of premium electric motorcycles, today announced the successful completion of AIS 156 testing and certification for its innovative lithium iron phosphate (LFP) battery pack. The approval, a standard requirement for high-speed electric vehicles in India, marks a significant milestone for SRIVARU, demonstrating the Company's dedication to delivering first-in-class products to consumers.

SRIVARU (SVMH) Announces Battery Test Completion and Approval for the Indian Market

Prana 2.0 Grand and Elite featuring the Company's version 2.0 intelligent battery system extends on-road driving* range to 150km and 250km/charge; 2-4 times longer range than the average daily commute distance Prana 2.0 Grand and Elite featuring the Company's version 2.0 intelligent battery system extends on-road driving* range to 150km and 250km/charge; 2-4 times longer range than the average daily commute distance

SRIVARU's (SVMH) Prana 2.0 Intelligent Battery System Goes Longer and Further: SRIVARU Successfully Completes Road/Performance Testing

New facility expected to be fully operational in April 2024 Initial stage designed to provide capacity for over 2,000 electric motorcycles per month Ability to increase production capacity to over 50,000 electric motorcycles with additional lines and shifts GRAND CAYMAN, Cayman Islands and COIMBATORE, India, March 14, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a prominent provider of premium electric motorcycles, today announced that it is near completion of its new, state-of-the-art manufacturing facility in Coimbatore, India, which is expected to be fully operational in April 2024.   We expect the new manufacturing facility will initially provide the Company with the capacity to produce over 2,000 bikes per month, operating just a single shift and single line.

Srivaru Nears Completion of State-Of-The-Art and Highly Automated EV Motorcycle Manufacturing Facility

Srivaru (NASDAQ: SVMH ) stock is sliding lower on Tuesday after the electric vehicle (EV) company's shares underwent a massive rally on Friday. Srivaru closed out trading on Friday up 46.2%.

Why Is Srivaru (SVMH) Stock Down 18% Today?

Racing Across The Finish Line: Exclusive Interview With Top Brass At Srivaru Holding And Mobiv Acquisition Corp

SRIVARU (NASDAQ: SVMH ) stock is heading higher on Thursday despite a lack of news from the electric motorcycle company. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today.

Why Is SRIVARU (SVMH) Stock Up 35% Today?

Mobiv Acquisition Corp

Former Tesla Executive, Mohanraj Ramasamy, assumes role as CEO of the combined companies Poised to capture a significant share of the multi-billion-dollar Indian and global EV markets based on surging demand, state-of-the-art technologies and capital-efficient business model Expected to commence trading on Nasdaq under new ticker symbol “SVMH” effective today, December 11, 2023 Delaware, USA and Coimbatore, India, Dec. 11, 2023 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW, MOBVU, MOBV, MOBVW) (“SRIVARU” or the “Company”), a commercial-stage provider of premium electric motorcycles, today provided a business update following the consummation of its recent business combination with Mobiv Acquisition Corp (“Mobiv”). In connection with the business combination, former Tesla executive and founder of SRIVARU, Mohanraj Ramasamy, has assumed the role as CEO of the Company.

News for Srivaru Holding Ltd Stock (SVMH)