Connect with us

Latest News

Ola To Stop Surge Prices During The Odd Even Rule In Delhi.

Published

on

Ola To Stop Surge Prices In Delhi,Startup Stories,Inspirational Stories 2017,Business News Updates 2017,Odd Even Scheme In Delhi,No Surge Pricing by Ola Cabs,Ola and Uber Cabs no surge Price,odd even car scheme,Ola Announce No Peak pricing Scheme,Ola and Uber Cabs Latest News

In light of the recent increase of pollution levels in Delhi, the Indian Government said they would issue an odd even car number plate policy in Delhi. This move has been taken to reduce the amount of pollution in Delhi. Favoring the odd even scheme, app based cab aggregator, Ola, said they will make sure there are no surge prices once this rule has been implemented. Transport Minister, Kailash Gahlot, confirmed meeting with Ola representatives to ensure there is no surge during the implementation of the odd even car scheme. 

The current levels of pollution and resultant smog in the national capital are worrisome and it is imperative that we join hands with the government in their efforts to curtail this situation. We welcome the odd even initiative and needless to say, have suspended peak pricing in Delhi,” Ola said in a statement. The company further added, Ola will slash the prices and start the base rate of Rs. 35. Ola believes shared mobility can help in reducing the pollution issue.

The company plans on starting this scheme on 13 November 2017. The Delhi Government is in talks with Uber as well and plans on working in tandem with both these app based cab aggregators.

Uber has already agreed to work with the Delhi Government and is working hard to ensure there is a combined agreement with both Ola and Uber on this issue. The odd even car scheme was implemented last year in Delhi in view of the rise in population levels in Delhi. Looking at the alarming rise in pollution levels this year, the Delhi Government decided to put this scheme in place for five days, that is, from 13 November 2017 to 18, November 2017.

The rules will remain the same as last year. On even dates, only cars with license plates ending with an even number will be allowed on city roads and on odd dates, cars with license plates ending with an odd number will be allowed.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

OYO Achieves Record Profitability in FY25 with Deferred Tax Boost and New Corporate Identity

Published

on

OYO

OYO, India’s leading hospitality startup, has retained strong profitability in FY25, driven by a significant deferred tax gain and a bold corporate identity overhaul. The company’s net profit surged to ₹623 crore, marking a 172% year-on-year growth, with adjusted EBITDA reaching ₹1,132 crore a 27% increase from the previous fiscal. Total revenue rose by 20% to ₹6,463 crore, propelled by strategic expansion in premium segments and the integration of G6 Hospitality into OYO’s growing portfolio.

The deferred tax gain of ₹765.6 crore played a crucial role in OYO’s profitability for FY25, helping overcome challenges from operational losses and global expansion costs. Meanwhile, OYO launched a campaign to rename its parent company, Oravel Stays Ltd, aiming for a tech-first, globally resonant brand identity as the business prepares for its IPO. This rebranding signals OYO’s shift toward broader urban living solutions, with the “OYO Hotels” brand remaining unchanged for consumers while the corporate entity targets premium and tech-driven markets worldwide.

OYO’s premiumization strategy and aggressive international growth have led to record results for the fourth quarter of FY25, with gross booking value surging 54% to ₹16,436 crore and revenue hitting new highs. These achievements highlight OYO’s disciplined financial management and commitment to innovation, setting a benchmark for Indian startups navigating global expansion and sustained profitability in the hospitality technology sector.

 

Continue Reading

Latest News

MPL to Lay Off 60% of India Workforce Following Online Gaming Ban

Published

on

MPL

Mobile Premier League (MPL), one of India’s top online gaming platforms, is set to lay off about 60% of its India workforce following the government’s ban on paid online games. The move, confirmed by MPL CEO Sai Srinivas through an internal email, will impact around 300 employees across multiple departments including marketing, finance, operations, engineering, and legal. This decision comes as a direct result of the Promotion and Regulation of Online Gaming Bill, 2025, which restricts paid online games involving monetary stakes to address concerns over financial risks and addiction among young users.

India contributed nearly half of MPL’s revenues, estimated at around $100 million in the 2024-25 fiscal year. With the ban on paid gaming, MPL’s primary revenue source in India has been effectively cut off, prompting the company to shift focus towards free-to-play games and expand its presence in overseas markets such as the United States and Brazil. Despite the layoffs, MPL has pledged to support the affected employees through the transition period. CEO Sai Srinivas expressed regret over the downsizing but highlighted the company’s commitment to developing new business models for the Indian market amid the regulatory changes.

This development significantly disrupts the Indian online gaming industry, which was on track to grow into a $3.6 billion sector by 2029 before the introduction of the ban. While competitors like Dream11 have adapted by discontinuing paid games and avoiding layoffs, the ban has forced many gaming startups in India to rethink their operations. The government’s regulation targets all games involving real money stakes, including fantasy sports and popular card games like rummy and poker, reshaping the future landscape for the country’s gaming ecosystem and its workforce.

Continue Reading

Latest News

NCLT Approves Amalgamaxtion of Info Edge Subsidiary Makesense with PB Fintech

Published

on

Info Edge - PB

The National Company Law Tribunal (NCLT) has granted approval for the amalgamation of Info Edge’s subsidiary, Makesense Technologies, with PB Fintech as of August 29, 2025, in a significant move for India’s fintech sector. This strategic merger aligns with Info Edge’s ongoing focus on streamlining its corporate structure and supports PB Fintech’s growth trajectory as the operator of leading platforms such as Policybazaar and Paisabazaar. The amalgamation, cleared by NCLT’s Chandigarh bench, took place without winding up either company, enabling a seamless blending of assets and expertise for greater operational efficiency.

In the specifics of this deal, Makesense Technologies—holding a 13.04% stake in PB Fintech as of June 2025—will see its shareholders allotted 59,750 equity shares and 60,030 compulsorily convertible preference shares from PB Fintech, with no change to Info Edge’s underlying economic interest. The consolidation is expected to cut compliance and administrative costs, simplify the equity structure, and enable both companies to focus on core business strengths without duplication of resources. This move is designed to strengthen PB Fintech’s position in India’s fast-evolving fintech and insurance market, while keeping Info Edge’s investment objectives intact.

The NCLT-approved merger highlights a broader trend of consolidation within India’s tech-driven industries, as major players seek to boost competitiveness and achieve sustainable growth through mergers and amalgamations. Stakeholders—including shareholders and employees—are set to benefit from the new, streamlined structure, increased transparency, and the promise of enhanced value creation going forward. The unification of Makesense Technologies and PB Fintech is expected to make a positive impact on the broader fintech ecosystem, reinforcing both companies’ leadership and innovation agendas.

Continue Reading
Advertisement

Recent Posts

Advertisement