Ask for file notings on dual spectrum, new licence issues.
In the largest private equity deal in the country ICICI Venture Funds Management Co has concluded a $800 million (Rs 3,200 crore) deal to buy a minority stake in Delhi-based Jaypee Infratech, a subsidiary of the infrastructure-to-hotels Jaypee Group.
The Department of Telecommunications (DoT) has prepared an internal note that suggests reversing spectrum allocation norms by giving new applicants for telecom licences preference in spectrum due to be released by the defence forces early next year.
In a strategic climb-down, key members of the Cellular Operators Association of India have come to a consensus that they are willing to go for open auction of spectrum for second-generation services beyond 10 MHz.
Hyundai Motors India hopes to export over 250,000 cars next year from India, twice this year's number. Yet, Managing Director H S Lheem said this performance will not be without its problems. In fact, ebullient exports may end up denting the company's bottom line.
Responding to a cabinet proposal to build a new airport in Jewar, Noida, Delhi International Airport Ltd (DIAL), the joint venture that operates Delhi airport, has told the ministry of civil aviation that the expanded capacity of the modernised airport will take care of the entire traffic requirement in the 150-km catchment area around Delhi for the next 20 years. Jewar is 68 km from Delhi airport.
The fund, which will be launched next month, will have a tenure of ten years and the money will be invested in projects within three years. The fund from the country's largest private equity fund (it manages assets of over $2.5 billion in a diversified portfolio) comes just 18 months after it launched a real estate fund of $500 million. Of this, it has already invested 70 per cent in various projects.
Going by application dates, companies like Spice, Birla-promoted Idea Cellular, Reliance Communications (through Swan and Cheetah) and Hindustan Futuristic are in the lead for licences in different circles. The only new player in the list is the little-known ByCell.Several incumbents like Idea Cellular, Maxis-Aircell, owned by a Malaysian promoter, and Vodafone-Essar lead the list of applicants for initial spectrum allocation since they already hold licences.
The rush to enter the world's fastest-growing mobile services market has attracted a wide range of applicants for telecom licences with the Department of Telecommunications.
These towers will be offered in the second phase of a scheme, launched in July this year, to provide subsidy to companies who want to build towers in various clusters and run mobile services in rural areas.
Naukri.com, which voluntarily started gathering data about caste from registered job seekers from May 2006, said 19 per cent of them were women, 3.4 per cent OBCs, 0.8 per cent SCs and 0.2 per cent STs. There are over 130,000 OBCs, 38,000 SCs and STs, 760,000 women, and 8,000 physically challenged job seekers registered on the job portal.
AT&T has also applied for a universal access service licence (UASL), which allows operators to offer services in both GSM and CDMA technology, with the Mahindra & Mahindra group, for 22 circles. The US company, however, has stipulated that it wants a majority equity stake in the mobile venture.
It was discovered that state-owned Bharat Sanchar Nigam Limited was given additional spectrum of up to 10 MHz for GSM technology services in over 16 circles even as private competitors have been waiting to be allotted spectrum by the DoT.
Tensions between private telecom players and the government ratcheted up a notch after it was discovered that state-owned Bharat Sanchar Nigam Ltd was given additional spectrum of up to 10 MHz for GSM technology services in over 16 circles even as private competitors have been waiting to be allotted spectrum by the Department of Telecommunications since December 2006.
Branded Mobi-Retail, this service will be offered to the 35 million subscribers of Reliance Communications, who will be able to use their handsets to buy over 100,000 products ranging from fresh vegetables to groceries, readymade garments, toys etc.
Among the new guidelines under discussion, DoT is looking at raising the net worth criterion of companies applying for a pan-India UASL licence from Rs 1,380 crore to Rs 1,500 crore.
No hybrid name, exercise to begin this week.
The 40 per cent market share cap suggested by the Telecom Regulatory Authority of India (Trai) is likely to make mergers between existing telecom operators extremely tough.
Despite the controversy over the entry of foreign retail giants, the government has cleared foreign direct investment worth only $3.1 million in retail between February 2006 and May 2007.
ADAG's push in film production will be through a new subsidiary of Reliance Entertainment, named Big Motion Pictures Ltd.
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