India's Ola Electric seeks to raise $661.8 million by selling new shares in an initial public offering, the six-year-old Bengaluru-headquartered startup Ola Electric seeks to raise $661.8 million in an initial public offering, the first by a two-wheeler maker in India in 15 years.
The Reserve Bank of India (RBI) on Tuesday said it has imposed a monetary penalty of Rs 1.68 crore on Ola Financial Services Private Limited for non-compliance with certain provisions of payment instruments and know your customers (KYC).