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An industry source said the funding was part of an overall $500 million the company is planning to raise, which will value Ola at around $5 billion.
Across India, decades of mismanagement and political meddling have left utilities selling electricity below cost and turning a blind eye to rampant theft.
A guilty verdict could impact Google's growth in India
Vodafone India said on Friday it would launch fourth-generation (4G) mobile phone services in the country by the end of the year.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
A total of 41 companies had applied for the permit
Lenovo Group Ltd said on Tuesday it was establishing a smartphone assembly unit in India.
The spike at private sector lenders like ICICI Bank and Axis Bank follows a push to grab market share from India's dominant state banks.
The government has filed a lawsuit against Swiss food firm Nestle's Indian unit, seeking Rs 640 crore ($99 million) in damages on behalf of consumers after the country's worst packaged food scare in a decade.
Hindustan Unilever, the Indian subsidiary of the consumer goods company, has denied wrongdoing.
Nestle India said in a statement on Friday that its managing director for India, Etienne Benet, would move to the group's head office in Switzerland.
For years, India has been a low priority for Apple as spending power is weaker than in China
The US is the biggest market for the outsourcing industry.
Ola did not disclose financial details of the investment.
A source said the deal would see Alibaba invest around $600 million
Food safety has hit headlines in India after government food safety inspectors found excess lead in packets of Nestle's Maggi instant noodles.
Rivals like Cognizant Technology Solutions Corp and Infosys Ltd have also sharpened focus on the healthcare sector
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
Foxconn has said it is aiming to develop 10-12 facilities in India, including factories and data centres, by 2020
Bad debt rules are steps in right direction.
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