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Capital Markets

India's Ola aims to raise additional $100mn

Operator of ride-hailing app looking to expand

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Bhavish Aggarwal, CEO of ANI Technologies, which operates under the trade name Ola, at a news conference in India last November.   © Reuters

NEW DELHI -- ANI Technologies, which runs the popular Ola ride-hailing service in India, seeks to raise as much as 6.7 billion rupees ($104 million) through convertible bonds in a push to counter encroaching rivals such as Uber Technologies.

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