Indian kiranas are agile enough to face the q-com challenge, but it's going to be a tough fight, notes Ambi Parameswaran.
Both are focused on the overall transportation business, in which taxi services are only a part; the extended ambit includes autos, motorbikes, cycles, electric vehicles, water transport as well as food delivery services, says Surajeet Das Gupta.
The IPO market is set to be bustling next week, with 11 companies like Vishal Mega Mart, TPG Capital-backed Sai Life Sciences and fintech firm One Mobikwik Systems gearing up to launch their initial share sales, collectively aiming to raise nearly Rs 18,500 crore. Other mainboard IPOs to be launched during this period are Inventurus Knowledge Solutions Ltd and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd.
Investors attribute the revival to the country's strong public markets, which are boosting confidence in initial public offering (IPO)-bound startups offering viable exit opportunities.
The past few weeks have been rough for both Ola and Uber companies, dodging fire from almost all corners.
Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, has received capital markets regulator Sebi's approval to float an initial public offering (IPO), people familiar with the development said on Wednesday. This development marks a significant milestone for the Indian industry, as it is the first automaker initial share-sale in over two decades, following Japanese automaker Maruti Suzuki's listing in 2003.
The 86-year-old Congress leader had been suffering from various ailments, sources in Medanta Medicity said.
Parliament was adjourned for the day on Monday after paying tributes to Union Minister Sis Ram Ola, who died on Sunday after prolonged illness.
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings.
The Association, which claims to represent around 125,000 app-based taxis in the the Delhi-NCR, demands that fares be increased from existing Rs 6 per km to around Rs 20 per km.
Ola Cabs acquires TaxiForSure in $200-mn deal.
Anupam Mittal, the fund man behind OlaCabs has lined up more investments.
Delhi Chief Minister Arvind Kejriwal says surge pricing is daylight robbery and no responsible govt can allow that.
Electric mobility in India is touted to be the way to the future, but implementation of large-scale projects to bring infrastructure for charging is still lacking.
Initially it will procure only e-rickshaws and e-autos for leasing to operators
The police have detained seven persons on charges of rioting following the incident.
Honda Motorcycle and Scooter India (HMSI) on Wednesday forayed into the fast-growing domestic electric mobility market with the introduction of e-scooters, ACTIVA e: and QC1, with swappable and fixed batteries. With this, the Japanese two-wheeler maker will now be competing with other legacy players such as Bajaj Auto, Hero MotoCorp, TVS Group as well as pure EV players like Ather and Ola, who already have a good presence in the segment, which is growing at 34 per cent year-on-year.
The investments by Uber and Ola included setting up kiosks, incentivising drivers for parking at the railway stations, and payments to the Indian Railways.
JD(S) will help them build a competing app, which, will work on a cooperative model, where drivers will own the app and will decide prices which the customers will have to pay
Yes Bank and Ola launched a mobile ATM service where customers of any bank can withdraw up to Rs 2,000 per card from PoS terminals
The Ludhiana-born engineer is among the youngest entrepreneurs on TIME's 100 most influential people.
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
IMAGES from the Premier League matches played on Saturday.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
The Freedom 125 has sold 8,310 units in October to date. This is its highest since it was launched in July and may touch close to 9,000 by the end of the month.
Car makers see a dip in demand from their biggest buyers, Ola and Uber. Demand from aggregators weakened for a number of reasons after a strong growth last year.
So far this year, bankers have earned Rs 1,226 crore for handling 45 IPOs, which together mobilised Rs 48,363 crore.
Ola and Uber have committed to spending Rs 15,000 cr to win the taxi market.
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
The strike has been called by the Maharashtra Navnirman Vahtuk Sena, the transport wing of the Raj Thackeray-led Maharashtra Navnirman Sena, which claims that several drivers of these cabs are not able to cover costs due to the falling business.
Uber on Tuesday said it is laying off about 600 employees in India -- about a quarter of its staff in the country -- as business has taken a major hit amid the COVID-19 pandemic. The development comes days after rival Ola had announced laying off 1,400 people from its rides, financial services and food business.
Uber is suing Ola for $7.5 million to compensate for lost revenue and goodwill, alleging the Indian market leader created about 94,000 fake user accounts with the ride-hailing service and used them to make more than 405,000 false bookings
The company did not disclose the valuations at which funds were raised.
State govt asks the two taxi aggregators to end surge pricing.
Bandhan expects to have a loan portfolio of Rs 14,500 crore.
The government's decision to stop surge pricing by app-based taxi companies Uber and Ola ignores the basic principles of economics to appease a vocal section of the vote bank.
The controversy started a Twitter firestorm with many demanded the Ola to block his account. However, there were many who supported the man's 'right to choose'.
App-based taxi aggregator Ola is in talks to raise fresh funding of up to $400 million.
Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
As Kolkata marches towards modernity, it is hard to imagine its streets without these cabs, notes Air Commodore Nitin Sathe (retd).
