Zoomcar receives Nasdaq delisting determination for multiple listing rule failures

Zoomcar Holdings, Inc.

Nasdaq staff issued delist determination on Nov 6, 2024 due to non-compliance with MVLS, Minimum Bid Price, and PHS Rules.
Failed to regain compliance with Minimum Bid Price and MVLS Rules by Nov 4, 2024 deadline.
Also non-compliant with Minimum Publicly Held Shares (PHS) Rule and MVPHS Rule.
Company intends to request a hearing before Nasdaq Hearings Panel to stay delisting and plans to transfer to Capital Market.

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