Ola Electric Secures Approval for $660M IPO, Set to Be India’s First EV Stock Listing
Ola Electric, India's largest e-scooter maker backed by SoftBank and Temasek, has received regulatory approval for its $660 million Initial Public Offering (IPO). The company plans to list its shares by mid-July, marking the country's first EV stock listing. Ola filed for approval with the Securities and Exchange Board of India last December to aid its operational expansion. The company, valued at $5.4 billion in September 2023, will now reach out to investors to assess demand for its issue.
Paytm is in advanced talks to sell its movie and events ticketing business to Zomato, focusing on its core payments and financial services. Zomato aims to strengthen its 'going-out' vertical with this acquisition. No binding decision yet. #paytm#zomato#fintech#technews
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OpenAI Cofounder Ilya Sutskever Launches Safe Superintelligence Inc.
OpenAI cofounder Ilya Sutskever has started a new venture, Safe Superintelligence Inc. (SSI), focusing on developing safe superintelligence. Joined by former Apple AI lead Daniel Gross and ex-OpenAI's Daniel Levy, SSI aims to avoid commercial pressures and focus solely on safety. #ai#superintelligence#safetech#startups#innovation
Mukesh Ambani's Jio Financial Services Unveils App to Rival PhonePe and Paytm
Jio Financial Services, led by Mukesh Ambani, has launched the beta version of the 'JioFinance' app. The app offers UPI payments, digital banking, bill settlement, and insurance advisory, aiming to compete with Google Pay, PhonePe, and Paytm. Available on Google Play Store, it promises an all-in-one financial solution for users.
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