SRIVARU Provides Business Update Following Successful Business Combination With Mobiv Acquisition Corp; Mohanraj Ramasamy, Assumes Role As CEO Of The Combined Companies; Expected To Commence Trading On Nasdaq Under New Ticker Symbol "SVMH" Effective Today
Portfolio Pulse from Benzinga Newsdesk
SRIVARU Holding Limited has completed a business combination with Mobiv Acquisition Corp and will begin trading on Nasdaq under the ticker symbols SVMH and SVMHW. Mohanraj Ramasamy, a former Tesla executive and founder of SRIVARU, is now CEO of the combined entity. The company aims to capture a significant share of the Indian and global EV markets, leveraging its state-of-the-art technologies and capital-efficient business model. SRIVARU is positioned to benefit from the growing Indian EV market, expected to exceed $36 billion by 2027, and plans to provide detailed business updates soon.
December 11, 2023 | 1:13 pm
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POSITIVE IMPACT
Mobiv Acquisition Corp has completed its merger with SRIVARU, and the combined entity will trade under the new ticker SVMH, with a focus on the EV market.
The completion of the merger and the change of ticker symbol to SVMH marks a significant transformation for Mobiv, which could lead to increased investor interest and potential stock price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SRIVARU begins trading on Nasdaq with new ticker SVMH after merging with Mobiv, led by CEO Mohanraj Ramasamy. The company targets the Indian EV market, which is forecasted to grow significantly.
The commencement of trading on Nasdaq under a new ticker symbol typically generates investor interest, especially when combined with positive business prospects in a growing market. The leadership of an experienced industry executive like Mohanraj Ramasamy could further boost investor confidence.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SRIVARU's warrants to trade on Nasdaq under the ticker SVMHW following the business combination with Mobiv, indicating potential for future investment opportunities.
Warrants trading on a major exchange like Nasdaq can attract investors looking for leverage opportunities. The positive outlook for SRIVARU's business in the EV sector may increase interest in these warrants.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80