Standard Chartered, Barclays, Citibank, Deutsche Bank are among investment banks that are involved in the process of facilitating investor meets in Asia, Europe and the United States.
India's second-largest telecom service provider Bharti Airtel will call in March 2026 the final tranche of about Rs 15,741 crore from its 2021 rights issue of Rs 21,000 crore, proceeds from which will be used towards retiring majority of non-government-related debt.
Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
Bharti Airtel promoter Bharti Telecom will buy a 3.33 per cent Airtel stake from Singtel for 2.25 billion Singapore dollars or about Rs 12,895 crore in 90 days' time, the telecom operator said on Thursday. Bharti Group chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom (BTL). Singtel in a statement said that after the transaction, Singtel Group is expected to own an effective stake of 29.7 per cent in Bharti Airtel, which is estimated to be worth SGD 22 billion (about Rs 1.26 lakh crore).
The JV between the two has won BWA spectrum in Delhi, Mumbai, Haryana and Kerala.
The company is looking at prepaying a part of the debt. It would be in the range of $800-900 million, Bharti Group chief financial officer Manik Jhangiani said.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
Six consecutive profitable quarters after an equal number of losses - for Bharti Airtel, the turnaround has been quick. But it is not a result of higher tariffs or absence of exceptional items alone. Execution and strategy are playing a part, too. Bharti Airtel's chief executive officer Gopal Vittal summed it up in a post-result conference call last month. "We track the profit in each of our 237,500 (cell) sites.
The latest telecom war kicked off after some pictures surfaced, showing Airtel banners among agitating farmers. According to the Jio camp, it was a giveaway that farmers were being enticed to port their phone numbers.
As the new owner, Airtel will take over Telenor India's spectrum, licences and operations, including its employees and customer base of 44 million.
Bharti Enterprises Group CFO Sarvjit S Dhillon said there is more clarity on the regulatory front now, which is a good sign for the industry.
With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity.
Based on Statista data for 2019, Vodafone has 17.2 million subscribers in the UK, 29.5 million in Germany, and over 13.7 million in Spain. Without Voda Idea, the Group will become smaller than Airtel and Jio.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
Bharti Airtel chairman Sunil Mittal has expressed hope that the government and regulators will step in to ensure the sector remains a viable place for continued investments and asserted that the industry requires "long overdue" support to maintain its current 3+1 structure. In the latest annual report of Airtel, Mittal said as the sector's role in the economy becomes more pervasive, its challenges loom larger. Issues such as unsustainable pricing and low returns in a highly capital-intensive environment, coupled with legacy legal issues, "have extracted their toll", Mittal observed.
Two years ago, the number was 4,000, according to Indian businessmen.
The depreciation in the yuan has led to a decline in all emerging market currencies
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
The dollar bond market has been a favourite for Indian firms in 2014.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
ONGC was the top performer while private banking major ICICI Bank extended gains
Indian CEOs might like to make some serious course correction.
Cut-throat competition, high spectrum costs, and frequent flip-flops in government policies have made it difficult for Vodafone to make money in the country.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
In August, RBI allowed 11 business houses to start a payments bank.
Vodafone Idea's net worth (or shareholders' equity) was down 73 per cent year-on-year to around Rs 17,600 crore at the end of the December 2019 quarter after the company reported a net loss of around Rs 6,400 crore during the quarter. Cumulatively, the company has lost nearly Rs 45,000 crore in the last four quarters, eroding its net worth to its lowest level in three-year. Analysts said a such a low level of net worth, coupled with continuing losses in operations, ruled out the possibility of the company getting fresh loans from lenders to fund its adjusted gross revenue (AGR) dues of Rs 54,000 crore.
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
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The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
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