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SRIVARU Holding Limited, symbol: SVMH, is a pioneering company in the two-wheeled vehicle (TWV) industry, focusing on developing vehicles powered by renewable energy. With a commitment to safety, performance, and comfort, SRIVARU aims to provide a secure and enjoyable riding experience to its customers.
Operating in the vehicle manufacturing segment, SRIVARU's flagship product line, the Prana, is an E2W (Electric Two-Wheeler) vehicle that is setting new standards in the category. The Prana line includes the Prana-Grand and the upcoming Prana-Elite, which will utilize the same platform but offer enhanced features and range.
SRIVARU has recently made significant strides in innovation with the introduction of the Prana 2.0 Grand and Elite models. These models feature the company's version 2.0 intelligent battery system, which extends the on-road driving range to 150km and 250km per charge, significantly surpassing the average daily commute distance by 2-4 times.
The company is actively engaged in engineering and design work, aiming to continually upgrade and enhance its product offerings. Recent developments include the establishment of a robust supply chain and the submission of vehicles for road and safety certification.
For the latest updates and more information, SRIVARU Holding Limited encourages investors and media to contact Crescendo Communications, LLC at +1-212-671-1020 or via email at ir@svmh.ai. Images and further announcements can be found at their official news sections on platforms such as GlobeNewswire.
SRIVARU Holding announced on January 21, 2025, that Nasdaq has determined to delist the company's shares due to failure to maintain the minimum $1.00 bid price requirement. Despite implementing a reverse share split on January 15, 2025, the stock failed to maintain the required threshold.
The company formally appealed Nasdaq's decision on January 20, 2025. However, trading of SRIVARU's ordinary shares will be suspended starting January 22, 2025. The company attributes the share price decline to actions by warrant holders who have been selling shares to influence the volume-weighted average price during the reset period, which spans two days before and three days after the reverse stock split.
SRIVARU is currently engaging with warrant holders to reach a settlement regarding outstanding warrants to address the bid price issue.
SRIVARU Holding (NASDAQ: SVMH) held its annual SVM Day 2025, showcasing significant developments and future plans. The company unveiled the PRANA 2.0 series, featuring advanced models with BYD's LFP battery technology, offering 250km range and 0-60 km/h acceleration in under 4 seconds.
Key announcements include plans to expand dealership network from 3 to 30 locations in 90 days, introduction of the ALIVE scooter series in March 2025, and establishment of in-house battery manufacturing by April 2025. The company's production facility can scale to 2,000 units monthly, with a 12-minute production cycle.
SRIVARU also revealed development of a high-speed motorcycle targeting 300+ km/h speeds and commenced customer deliveries of PRANA 2.0 models. The motorcycles feature IoT-enabled smart clusters, LTE and Bluetooth connectivity, and AI-driven insights for enhanced user experience.
SRIVARU Holding (Nasdaq: SVMH) announces its annual SVM Day event, scheduled for January 15th, 2025, at 10:00 AM EST. The online event will be streamed on the company's YouTube channel and brings together stakeholders, investors, partners, dealers, customers, and media representatives.
The event aims to showcase the company's achievements in 2024 and outline its strategic plans for 2025, focusing on electric motorcycle innovation, sustainability, and user-centric design. Key highlights include discussions on product advancements, market expansion efforts, and strategic partnerships. The company will also provide updates on its dealer network expansion in India.
CEO Mohanraj Ramasamy emphasizes the company's mission to redefine personal transportation through sustainable energy solutions and world-class experiences.
SRIVARU Holding (Nasdaq: SVMH), a manufacturer of premium electric motorcycles, announced a 50-for-1 reverse share split of its ordinary shares effective January 15, 2025. This move aims to regain compliance with Nasdaq's minimum $1.00 bid price requirement. The reverse split, approved by shareholders on December 4, 2024, and the board on December 28, 2024, will reduce the total number of authorized shares from 1 billion to 20 million and change the par value to $0.50 per share.
As of the Effective Time, every 50 shares will be consolidated into one, and proportional adjustments will be made to stock options, warrants, and equity awards. No fractional shares will be issued; fractional shares will be rounded up at the participant level with DTC. The company's ordinary shares will trade on a split-adjusted basis under the existing ticker symbol SVMH starting January 15, 2025. The new CUSIP number for the shares will be G8403L136.
Registered stockholders holding shares electronically in book-entry form need not take any action. Those holding shares in brokerage accounts will have their positions automatically adjusted according to their brokers' processes.
SRIVARU Holding (Nasdaq: SVMH) announces progress in complying with Nasdaq listing standards. Following a September 18 Nasdaq letter granting continued listing time, the company submitted Interim Audited Financials on November 14, 2024, demonstrating compliance with Nasdaq Capital Market's shareholder equity requirements. SRIVARU believes it now meets minimum shareholder equity thresholds to transition from Nasdaq Global Market to Nasdaq Capital Market and awaits Panel response. The company is focusing on expanding sales, increasing production volume, and establishing new dealership partnerships.
SRIVARU Holding (Nasdaq: SVMH) has completed its upsized public offering, raising approximately $6.8 million in gross proceeds. The offering consisted of 106,250,000 units priced at $0.064 per unit, with each unit comprising one ordinary share and one warrant. The warrants are exercisable at $0.096 per share upon shareholder approval and expire after five years. The underwriters have a 45-day option to purchase up to an additional 15,937,500 ordinary shares and warrants. Maxim Group served as the sole book-running manager for the offering.
SRIVARU Holding (Nasdaq: SVMH) has announced the pricing of an upsized public offering of 106,250,000 units at $0.064 per unit, expecting to raise $6.8 million in gross proceeds. Each unit includes one ordinary share and one warrant exercisable for two ordinary shares. The warrants will be exercisable at $0.096 per share upon shareholder approval and expire after five years. The company granted underwriters a 45-day option to purchase up to additional 15,937,500 ordinary shares and warrants. The offering, managed by Maxim Group , is expected to close on October 31, 2024.
SRIVARU (Nasdaq: SVMH) announced its expansion into Kerala, India, through a new joint dealership with Electrogreen Motors in Thiruvananthapuram. The partnership will offer PRANA 2.0 electric motorcycles, featuring models with 250km range per charge and 0-60 km/h acceleration under 4 seconds. The joint dealership model allows SRIVARU to partner with established local dealers while minimizing costs. Kerala's supportive EV policies, including free registration, road tax exemptions, and free parking, make it an ideal market for expansion. The state's major cities are already significant contributors to India's luxury automobile segment.
SRIVARU Holding (Nasdaq: SVMH) has announced the commencement of customer deliveries for its PRANA 2.0 models, marking the beginning of the company's revenue generation phase. This milestone follows SRIVARU's receipt of the CMVR certification from the Indian Road Transport Authority, confirming compliance with India's safety, performance, and environmental standards.
The PRANA 2.0 series, including the Grand and Elite models, offers a superior riding experience with advanced technology, impressive range, and high-performance capabilities. The Prana Elite boasts a driving range of 250 kilometers per charge and can accelerate from 0 to 60 km/h in under 4 seconds. These electric motorcycles feature iOT enabled smart clusters, LTE and Bluetooth connectivity, and advanced Controller Area Communications (CAN) between core components.
CEO Mohanraj Ramasamy expressed excitement about entering the revenue generation phase and the growth opportunities in the electric two-wheeler segment, particularly in India's rapidly growing EV market.
SRIVARU Holding (NASDAQ:SVMH) has obtained certification from India's Central Motor Vehicles Rules (CMVR) agency for its PRANA 2.0 models, including the PRANA Grand and PRANA Elite. This certification marks the final federal technical compliance, paving the way for vehicle deliveries in India. The PRANA 2.0 series, designed for urban commuters and eco-conscious riders, offers a range of 250 kilometers per charge and can accelerate from 0 to 60 km/h in under 4 seconds.
The CMVR certification process involved extensive testing, ensuring PRANA 2.0 meets the highest industry standards. This achievement positions SRIVARU to capitalize on the growing demand for electric vehicles in India, where the premium yet affordable segment has seen over 23% year-over-year growth. CEO Mohanraj Ramasamy stated that this milestone is necessary to begin revenue generation and demonstrates the company's commitment to delivering a commercially viable product.
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