In the rights issue, the company is offering one share for every 15 shares held at Rs 1,257. The rights shares are expected to be listed on the BSE and NSE on or around June 12.
Facebook co-founder and CEO Mark Zuckerberg on Tuesday said India is a very special and important country with a remarkable entrepreneurship culture, as he sought to push deeper the just-launched payments services that allow users to make payments over WhatsApp. Last month, Facebook-owned WhatsApp received approval from the National Payments Corporation of India (NPCI) for rolling out its payments services in India. In 2018, WhatsApp started testing its UPI-based payments services in India -- a global first -- with about a million users.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
Saudi Aramco had right from the beginning resisted the price tag Reliance had put for the 20 per cent stake in O2C business, which comprises the company's twin refineries at Jamnagar in Gujarat, petrochemical plants and 51 per cent in fuel retailing venture.
In order to determine whether this would be sound strategy for them, one needs to look at two issues: One, on the alliances being built globally between telcos, on one hand, and cloud service firms, on the other, especially with the advent of 5G; and two, how their business strategies in India will blend into with such a deal.
Reliance is leveraging the technological change of building a virtualised 5G network which would see the current hardware-dependent networks shift to software-centric platforms.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018.
He expressed hope that it will also benefit a large number of Hindi-speaking umpires and those giving training in this field, to whom the rules in English are hard to understand.
Hero ISL received, in its third edition, a total viewership of 216 million as compared to around 207 million last year. One of the highlights of the season was the sharp increase in rural India viewership registering a cumulative figure of 101 million, indicating the widespread appeal of the sport.
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