Ola Electric taps Kotak, Goldman Sachs for IPO, likely to hit market in early 2024

Ola Electric has engaged investment banks Kotak Mahindra Capital and Goldman Sachs for an initial public offering (IPO) in early 2024. The electric mobility startup aims to go public before the government subsidies for electric vehicles are discontinued. This makes Ola Electric one of the few venture capital-backed companies to enter IPO discussions within a six-month timeframe. Read more here. 

Take a look at these key events

Today
Inauguration of Kanpur Airport’s new terminal building
IMD issues orange alert, predicts heavy rainfall, thunderstorm till today
SC to hear plea opposing bail to Gangi Reddy in YS Vivekananda Reddy murder case
Unionised farmers to stage nationwide protest starting today
IPL 2023: Play off match: GT vs MI

Go First unlikely to restart operations for a month

COVID-19 pill Paxlovid moves closer to full FDA approval

Pfizer's COVID-19 pill Paxlovid won another vote of confidence from U.S. health advisers Thursday, clearing the way for its full regulatory approval by the Food and Drug Administration. The medication has been used by millions of Americans since the FDA granted it emergency use authorization in late 2021. The agency has the final say on giving Pfizer's drug full approval and is expected to decide by May. Read more here. 

Leave encashment up to Rs 25 lakh to be tax-free for non-government workers

While such payments were tax-free only for government employees, the private sector was permitted only up to Rs 3 lakh worth of tax-free leave encashment. The new measure was announced in the February budget, but has been notified only now. Read more here. 

Apple's iOS 17 may enable smart displays on locked iPhones

Apple is reportedly planning to enable smart display functions on iPhones running the company's upcoming operating system, iOS 17. According to a Bloomberg report, Apple will use the lock screen on the iPhone to display information such as weather, appointments and notifications in the format of a smart-home display. Read more here. 

Legendary sword of Tipu Sultan makes history with GBP 14 million sale in London art auction

During Bonhams' Islamic and Indian Art sale this week in London, a legendary sword discovered within the personal bedchamber of Tipu Sultan, the 18th-century ruler of Mysore, has shattered all previous auction records for an Indian item. The remarkable sword achieved a staggering price of over GBP 14 million, establishing a new benchmark for Indian artefacts. Read more here.