SRIVARU Holding Ltd Faces Nasdaq Delisting, Plans Appeal
Ticker: SVUWF · Form: 6-K · Filed: Jan 22, 2025 · CIK: 1973368
| Field | Detail |
|---|---|
| Company | Srivaru Holding Ltd (SVUWF) |
| Form Type | 6-K |
| Filed Date | Jan 22, 2025 |
| Risk Level | high |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $1.00 b, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, appeal, stock-exchange
TL;DR
Nasdaq wants to delist SRIVARU, but they're fighting back with an appeal.
AI Summary
SRIVARU Holding Limited announced on January 21, 2025, that it received a delisting determination from Nasdaq on January 17, 2025. This decision is due to the company's failure to meet the minimum $1.00 bid price per share requirement under Nasdaq's Marketplace Rule 5450(a)(1). The company has stated its intention to appeal this determination.
Why It Matters
This delisting could significantly impact the liquidity and trading accessibility of SRIVARU Holding Ltd's shares, potentially affecting investor confidence and market valuation.
Risk Assessment
Risk Level: high — The company is facing delisting from a major stock exchange, which poses a significant risk to its stock's liquidity and investor confidence.
Key Numbers
- $1.00 — Minimum Bid Price (The threshold SRIVARU Holding Ltd failed to maintain to avoid delisting from Nasdaq.)
Key Players & Entities
- SRIVARU Holding Limited (company) — The company filing the report and receiving the delisting notice.
- Nasdaq (company) — The stock exchange that issued the delisting determination.
- January 21, 2025 (date) — Date of the press release announcing the delisting notice.
- January 17, 2025 (date) — Date Nasdaq issued the delisting determination.
- $1.00 (dollar_amount) — The minimum bid price per share requirement that SRIVARU failed to meet.
FAQ
What was the specific reason given by Nasdaq for the delisting determination?
Nasdaq determined to delist SRIVARU Holding Limited's shares for failure to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq's Marketplace Rule 5450(a)(1).
When did SRIVARU Holding Limited receive the delisting determination from Nasdaq?
SRIVARU Holding Limited received the determination from Nasdaq on January 17, 2025.
What action does SRIVARU Holding Limited intend to take regarding the delisting notice?
SRIVARU Holding Limited intends to appeal the delisting determination.
What is the ticker symbol for SRIVARU Holding Limited?
The filing does not explicitly state the ticker symbol, but the SEC file number is 001-41884.
What is the company's primary business as indicated by its SIC code?
The company's Standard Industrial Classification (SIC) code is 3711, which corresponds to MOTOR VEHICLES & PASSENGER CAR BODIES.
Filing Stats: 306 words · 1 min read · ~1 pages · Grade level 13.1 · Accepted 2025-01-21 20:09:24
Key Financial Figures
- $1.00 b — e to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq
- $1.00 — to close with a bid price greater than $1.00. The Company formally appealed the Nasd
Filing Documents
- form6-k.htm (6-K) — 19KB
- ex99-1.htm (EX-99.1) — 16KB
- 0001493152-25-003119.txt ( ) — 36KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SRIVARU Holding Limited Date: January 21, 2025 By: /s/ Mohanraj Ramasamy Mohanraj Ramasamy Chief Executive Officer and Director