Ola App

Ola Electric's founder Bhavish Aggarwal has undertaken a limited monetisation of his personal shareholding to fully release all promoter-level share pledges totalling Rs 260 crore, according to company sources. The pledge release transaction involved a combination of monetising a small part of the promoter holding as well as other personal incomes. It will completely release 3.93 per cent of previously pledged shares, making the founder-promoter debt-free. Sources said the promoter-group holding will be over 34 per cent after the limited stake monetisation, among the largest in the listed new-age listed cohorts. Ola Electric is not expected to see further promoter pledges as the current one was done to seed fund AI startup Krutrim, which has re-emerged as a cloud infra player with positive cash flows. The monetisation does not result in any dilution of promoter control and reflects the founder's long-term commitment to Ola Electric's strategy of building a vertically integrated, ..

With India's BESS market projected to grow to over ₹3 trillion by 2030, Ola Electric expects its annual BESS consumption to scale up to 5 GWh in the next few years

A nationwide survey reveals 59% of app-based taxi users still face issues like ride cancellations, surge pricing, and poor driver behaviour, despite new government rules aimed at reforming the sector

India's quick commerce sector has seen an astonishing growth rate, with sales increasing by more than 280 per cent over the past two years

Ola founder recently mentioned that he is not sure why Elon Musk is venturing into the same businesses he is in. He also stated that started his Krutrim AI before the latter launched his AI venture

Ola has established itself as the second-largest buyer-side platform for food delivery on ONDC, following Magicpin

The vision is to enable the developers to do cutting-edge innovation. These platforms or tools that developers need are computing and services and that is what we have opened up

Ola's AI platform Krutrim will compete with global technology majors in building energy-efficient data centres and offer cloud services at the lowest price for the development of artificial intelligence, its founder Bhvish Aggarwal said. While speaking at an event, Aggarwal announced an AI cloud platform - Krutrim Cloud - to enterprises, researchers, and developers at low cost with a focus on addressing the needs of Indian developers. "We are building our own technology to do energy management to make the most efficient data centres in the world. I am willing to compete with Microsoft, Google or whoever to say, we will do better than them. The cloud cost we pay is the same as the amount paid by American developers. How is it justified? We will resolve that," Aggarwal said. He alleged that big technology companies like Amazon, Google and Apple are having closed ecosystems and locking developer's work on their platform. "Krutrim's overall ambition is to build a full stack AI platform

Krutrim has opened up its cloud platform for enterprises, researchers, and developers, enabling development of new-age technology products at a fraction of current costs

He mentioned that the aim is to keep the air taxi service "very affordable," and the lower labor costs (for pilots, maintenance) in India will assist in achieving this goal

The company has begun notifying users about the impending closure, with operations in Australia scheduled to halt from April 12

IPO-bound Ola Electric Mobility Ltd plans to utilise Rs 1,226.43 crore out of the proceeds of its Rs 5,500-crore public issue on capacity expansion of its cell manufacturing plant to 6.4 GWh from 5 GWh, according to preliminary papers filed by the company with capital markets regulator Sebi. The company, which had filed the draft red herring prospectus (DRHP) last week is also looking to use Rs 1,600 crore from the public fund raising on research and product development, while another Rs 800 crore will be deployed to repay debt. Ola Electric Mobility (OEM) which had on August 15, 2023 announced a line-up of electric motorcycles -- Cruiser, Adventure, Roadster and Diamondhead -- expects to begin delivery of the motorcycles in the first half of fiscal 2026. In its DRHP, the company said the Phase 1 (a) and Phase 1 (b) of the set up and expansion of the Ola Gigafactory at Krishnagiri district in Tamil Nadu will be funded from internal accruals and long term borrowings availed by its ar

Ola will not hire new drivers or vehicles for the new service and would instead rely on its existing fleet, sources said

Company will be adding in-house manufacture of motors as well as cells, which account for the bulk of the cost of a scooter

The company sells three models of Ola electric scooters, Ola S1, Ola S1 Pro and Ola S1 Air

Ola and Uber moved the court challenging an order issued by the State Transport Department effectively banning auto-rickshaw rides through their apps, following multiple complaints of overcharging

Tribunal says Ola is a mere intermediary; its role is limited to managing OLA app, facilitating transport services by the driver to the rider and payment collection via e-wallet on driver's behalf

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The network is for electric two-wheelers

The funds, T Rowe Price and Vanguard, hold about 1% in both companies; while Paytm's valuation has taken a 26% hit, Ola's has suffered a 50% drop