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Ola competes with Uber Technologies in India.
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.
The strike is expected to be observed in key cities like Mumbai, New Delhi, Bengaluru, Hyderabad, Pune among other cities.
Ola accuses Uber of violating local laws, run business for profit.
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.
Chinese bicycle sharing giant Ofo launches service in seven Indian cities.
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.
65% of respondents find surge pricing by aggregators burdensome.
Indian kiranas are agile enough to face the q-com challenge, but it's going to be a tough fight, notes Ambi Parameswaran.
This comes at a time when Ola is looking to replicate nationally the success of its auto-rickshaw offering in Chennai and Bengaluru.
The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
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.
In a first in the country, online taxi aggregator Ola has today announced that it has deployed boats in water logged and partially submerged areas in Chennai.
Once the user selects a service, they will be directed to the Uber or Ola app to request the ride with one tap.
The development comes amid Japan's SoftBank booking an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in Ola and e-commerce company Snapdeal.
Maruti Suzuki said there are many reasons for this downturn in the auto market such as liquidity crunch, increased prices of products due to regulatory issues, higher taxes and rise in insurance rates.
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.
Growing the number of electric vehicles on Ola's platform is part of the terms SoftBank has put forth for the funding
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.
Uber and Ola continued to operate in New Delhi while their licence applications were pending approval.
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.
Currently the average expected time of arrival for Ola vehicles is five minutes.
The Bengaluru-based firm competes with US rival Uber whose lukewarm IPO last year has contributed to the lag in valuation trend among the unicorns across the Indian start-up ecosystem.
New norms issued as per the Motor Vehicle Aggregator Guidelines 2020 have mandated a cap on surge price, preventing aggregators from charging more than 1.5 times of the base fare.
About 1,000 such cabs have been registered on the company's platform so far
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 new Ola app will allow fleet owners to track their cars in real-time, view the performance of their drivers, and even their daily earnings
Ola wants to be India's answer to Grab, which is into everything, starting from cab service and logistics to bike taxis and food and grocery delivery.
Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said. In an email to employees, Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".
While the cab aggregators offer incentives as they battle each other for more customers, drivers complain that their earnings have halved in the last six months. Alnoor Peermohamed reports.
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.
US-based ride hailing firm accuses rival of making false bookings on its platform, drags it to Delhi High Court.
According to company executives, the situation might worsen in the coming days.
There are times when a customer books a cab and is charged for the ride, but the driver doesn't show up. It is one of the many hacks that cab drivers use.
Ola did not disclose financial details of the investment.
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.
So far this year, bankers have earned Rs 1,226 crore for handling 45 IPOs, which together mobilised Rs 48,363 crore.
The development comes close on the heels of Uber planning to invest substantial part of $3.5 bn Saudi money in India.
The whole point about this is not who eventually wins or loses but how, in just a few years, technology has so changed our lives, says Subir Roy.
