04:49 AM EDT, 03/20/2025 (MT Newswires) -- Zoomcar Holdings ( ZCAR ) said Wednesday it will implement a 1-for-20 reverse stock split, effective Friday.

The company said its shares will start trading on a reverse-split basis on March 24 under the same Nasdaq ticker symbol.

Zoomcar ( ZCAR ) said the move will shrink its outstanding shares from about 14.2 million to roughly 710,000.

The company said the adjustment is meant to lift its share price and support compliance with Nasdaq's listing rules.

Shares of the company were down more than 28% in recent Thursday premarket activity.

Price: 0.22, Change: -0.087, Percent Change: -28.45