Hexindai Inc. received a delisting notice from Nasdaq for its noncompliance with continued listing requirements.

Nasdaq sent a notification letter about its noncompliance with the minimum bid price requirement as the closing price of the company's American depositary shares have been less than US$1 over a consecutive 30-trading-day period, according to a Dec. 19 release.

Hexindai has until June 15, 2020, to regain compliance with the minimum bid price in accordance with Nasdaq's listing guidelines.