Ola Group Executive Amit Anchal buys luxury villa in Bengaluru. Details here

Ola Group Executive Amit Anchal has acquired a luxury villa in Bengaluru for ₹13.5 crore. According to a Hindustan Times report, the villa is situated in Adarsh Palm Retreat Villas on Marathahalli Outer Ring Road in East Bengaluru. The purchase, registered on July 16, lists Amit Anchal and Archana Singh as the buyers. Anchal, currently a strategic consultant for Ola, has previously overseen strategy and corporate finance for both Ola and Ola Electric.

Developed by Adarsh Developers, the township features an array of amenities, including a state-of-the-art gym, a multipurpose banquet hall, swimming pools, badminton courts, and indoor and outdoor play areas, all within an 80,000-square-foot clubhouse.

The luxurious property covers 4,774 square feet and is situated within a gated community of 800 Victorian-style villas, spread across a 110-acre estate, Hindustan Times reported.

Ola IPO opens with a price band of ₹72-76

Ola Electric Mobility, based in Bengaluru, has launched its much-anticipated IPO, which opened for subscription on Friday, August 2. At the end of Day 1, the initial public offering had been subscribed 0.38 times.

Ola Electric IPO will be available for investors until Tuesday, August 5.

As one of India's first fully electric vehicle companies to go public, Ola Electric is led by Bhavish Aggarwal, its Founder, Chairman, and Managing Director. The company has set the IPO price range between ₹72 and ₹76 per share.

Investors can place bids for a minimum of 195 shares, with subsequent bids required in multiples of 195 shares. For retail investors, the minimum investment is ₹14,820.

The IPO is being conducted through a Book Building Process. The allocation will be structured as follows: at least 75% of the net offer will be reserved for qualified institutional buyers, up to 15% for non-institutional bidders, and up to 10% for retail individual investors.