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Rediff News  All News  » Business » Reliance Jio's net worth at Rs 5,026 cr

Reliance Jio's net worth at Rs 5,026 cr

January 21, 2014 08:57 IST

Reliance Jio Infocomm, expected to start commercial operations in the Indian telecom space in the next few months, had a net worth of Rs 5,026.16 crore (Rs 50.26 billion), the company said in a statement submitted to the Department of Telecommunications (DoT) on Monday.

Net worth is the net of a company's total asset value, after deducting its liabilities.

In the statement, submitted along with an application expressing interest to participate in the telecom spectrum auctions starting February 3, the company added its current paid-up capital stood at Rs 12,322.2 crore (Rs 123.22 billion).

Reliance Industries has a stake of 95 per cent in the company; the rest of the stake is held by Anant Nahata (1.5 per cent), Nextwave Communications (0.75 per cent), Infotel Telecom Holdings (0.125 per cent), Digivision Ventures (0.085 per cent), Vikas Agarwal (0.04 per cent) and Infotel Infocomm Enterprises (2.5 per cent), according to the document submitted to DoT.

According to DoT data Vodafone's net worth stood at Rs 7,652.09 crore (as on January 15), while Bharti Airtel's net worth was Rs 61,221.2 crore (Rs 612.21 billion).