Summary by Futu AI
SRIVARU Holding Limited (SVH), a Cayman Islands exempted company, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for the resale of 21,253,159 ordinary shares and 250,000 shares underlying warrants by certain selling securityholders. The registration is part of SVH's obligations following its business combination with Mobiv Acquisition Corp (MOBV) and Pegasus Merger Sub Inc., which was completed on December 8, 2023. SVH, which operates through its subsidiary SVM, is a manufacturer of clean tech electric two-wheelers (E2Ws) focused on the Indian market. The company's flagship product, the Prana-Grand, is a premium E2W vehicle. SVH's growth strategy includes expanding its product offerings, scaling production capacity, and exploring international markets. The company's financial statements for the period ending December 31, 2023, have been audited by Manohar Chowdhry & Associates, and the company has been advised by Walkers (Cayman) LLP on legal matters related to the registration. SVH will not receive any proceeds from the sale of shares by the selling securityholders.