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News on Medial
Ola Group Executive Amit Anchal buys luxury villa in Bengaluru. Details here | Mint
Livemint
·
1y ago
Medial
Amit Anchal, an executive of Ola Group, has purchased a luxury villa in Bengaluru for ₹13.5 crore. The property, located in Adarsh Palm Retreat Villas, features an 80,000-square-foot clubhouse with various amenities. Anchal, who is currently a strategic consultant for Ola, has previously held positions overseeing strategy and corporate finance for both Ola and Ola Electric. In other news, Ola Electric Mobility's IPO has opened for subscription with a price range of ₹72-76 per share. The IPO will be available for investors until August 5. Ola Electric is one of India's first fully electric vehicle companies to go public.
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Supply chain group buys retail tech startup Arzooo’s assets in distress deal
Economic Times
·
8m ago
Medial
Distribution and supply chain company Moksha Group has acquired the assets of B2B consumer electronics startup Arzooo. Details of the deal were not disclosed. Arzooo had struggled to raise capital or merge with larger rivals. As part of the acquisition, Moksha Group will take over Arzooo's technology platform, intellectual property assets, trademarks and private label brand. The sale is expected to result in existing equity backers of Arzooo writing off their investments. Moksha Group has appointed former Cloudtail and Amazon executive Rehan Shaikh as the CEO of Arzooo.
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Nisus Finance targets $1 bn AUM in three years with IPO push
VCCircle
·
8m ago
Medial
Mumbai-based investment management firm Nisus Finance aims to raise its assets under management (AUM) to $1 billion in the next three years. The company, led by former Essel Group and Knight Frank executive Amit Goenka, plans to achieve this growth through an initial public offering (IPO) push. Nisus Finance is gearing up to expand its base and diversify its offerings in order to attract more investors.
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Ola Electric subsidiary resolves insolvency dispute with Rosmerta Group
Entrackr
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4m ago
Medial
Ola Electric subsidiary resolves insolvency dispute with Rosmerta Group The dispute began when the Rosmerta Group filed insolvency petitions on March 16 under Section 9 of the Insolvency and Bankruptcy Code. Ola Electric Mobility Limited has settled a legal issue involving its subsidiary, Ola Electric Technologies Private Limited, and its vehicle registration service provider, Rosmerta Digital Services Ltd. In a recent update to the National Stock Exchange (NSE) and BSE, Ola Electric said that all outstanding payments have been cleared. As part of the agreement, Rosmerta has asked the National Company Law Tribunal (NCLT) in Bengaluru to withdraw the case. Ola Electric also stated that there are no further disagreements between the two parties and reaffirmed its commitment to strong business partnerships and the timely resolution of any future issues. "With the receipt of INR 26,75,24,339/- which consists of the entire claim raised before NCLT, Rosmerta Group companies are withdrawing its petitions before the NCLT, Bengaluru," said a Rosmerta Digital spokesperson. "No further causes of action exist between Rosmerta Group and Ola Electric, whose relationship shall now be governed by the Settlement Agreement executed between them." The dispute began when the Rosmerta Group filed insolvency petitions on March 16 under Section 9 of the Insolvency and Bankruptcy Code. The petition was filed with the NCLT Bengaluru Bench, claiming that Ola Electric Technologies Pvt Ltd had not paid for services provided by the creditor. It requested the court to start insolvency proceedings against the company. Last month, Ola Electric said it sold over 25,000 electric two-wheelers in February 2025, maintaining its 28% market share in the segment. However, the sales numbers on Vahan — a government database managed by the Ministry of Road Transport and Highways — did not match the company’s claim. Ola Electric clarified that the mismatch was due to ongoing negotiations with its vehicle registration vendors. The company said the backlog caused by the data mismatch has been cleared, but the government has requested more information on the matter.
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62 EV Startups That Are Helping Keep The Earth Healthy And Clean
Inc42
·
1y ago
Medial
ASK Property charts exit roadmap for maiden special situations fund Premium Amit Bhagat, MD & CEO, ASK Property Fund The real estate investment arm of Blackstone-backed ASK Wealth and Asset Management expects to exit a special situations fund in a year, a top executive told VCCircle. ASK Property Fund, the real estate private equity investment arm of Mumbai-based ASK Group, raised about Rs 843 crore for ASK Real Estate Special ......
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Ola Consumer nears 1 lakh daily orders on ONDC; Bengaluru food delivery at 20% of Swiggy-Zomato's scale: Bhavish Aggarwal
Money Control
·
11m ago
Medial
Ola Consumer, part of the Ola group, is processing around 100,000 orders per day through the Open Network for Digital Commerce (ONDC). ONDC is an open ecosystem that allows businesses like Ola Consumer to offer services such as ride-hailing, food delivery, and hyperlocal logistics. Ola Consumer has experienced significant growth in its food delivery service, with a focus on Bengaluru, and aims to challenge the dominance of competitors like Zomato and Swiggy. Additionally, Ola Consumer plans to expand its quick commerce service and launch automated dark stores.
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Ashwin Sheth eyes over 10 housing projects, nearly ₹30,000 cr sales in 2025
Livemint
·
7m ago
Medial
Ashwin Sheth Group, a real estate developer, plans to launch over 10 housing projects by 2025 and enter the Bengaluru market. The group anticipates a potential gross development value of ₹30,000 crore from these projects. To fund its expansion, the company is considering an IPO in the next 12-18 months. The group is targeting the premium and luxury real estate segments, with a focus on strategic partnerships and joint ventures to minimize debt.
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US-based spatial reality firm Omnia buys virtual shopping platform SpotKwik
VCCircle
·
4m ago
Medial
US-based extended reality firm Omnia acquired Bengaluru-based augmented reality startup SpotKwik to enhance its spatial computing offerings. The acquisition grants Omnia access to SpotKwik’s R&D and products, although financial details remain undisclosed. Founded by Mithun Adith in 2019, SpotKwik allows users to virtually try and purchase items like jewelry and beauty products. It partners with Meesho and Amazon. Omnia serves clients like Tesla and aims to shift from mobile to spatial computing.
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Ashwin Sheth Group buys 50% stake, PAG pours ₹540 cr in posh south Mumbai tower
Livemint
·
1m ago
Medial
Ashwin Sheth Group has acquired a 50% stake in the luxury residential project 'One Marina' in South Mumbai. The project, a stalled 74-storey tower, will receive a ₹540 crore credit finance boost from the Asia-focused investment firm PAG, targeting a gross development value of ₹2,300 crore. This two-way strategic deal allows existing lender J.C. Flowers Asset Reconstruction Pvt. Ltd an exit and aims to make One Marina a premium residential address in the area.
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Former Hulu exec is building a go-to remittance app for Indian expats
TechCrunch
·
2y ago
Medial
Abound, a startup founded by former Hulu executive Tim Connolly, has secured funding from Times Group. The details of the funding round have not been disclosed yet. As an innovative startup, Abound aims to revolutionize the way consumers discover and engage with live events and entertainment content. The investment from Times Group will likely accelerate Abound's growth and market expansion.
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Woman says she was abused by Ola Auto driver over fare in Bengaluru; police responds
Money Control
·
1y ago
Medial
A woman claimed she was abused by an Ola Auto driver over fare in Bengaluru. "This a deeply shocking situation...I was lucky that...my father could come to step in & yet when I mentioned that he was cursing at me, he...started screaming in my face," she said. "Please provide your specific area details," the police responded to her post.
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