Idea Cellular, the Aditya Birla group firm that is on the verge of taking over Spice Communications by buying out B K Modi's 41 per cent stake, is sounding out its bankers to raise funds to upgrade in the struggling telecom operator's network and technology.
The bidding companies have the choice of either bidding individually or as a group.
The bidding companies have the choice of either bidding individually or as a group.
Not just Mumbai, the company's plans to roll out services in Bihar and Jharkhand has also been delayed due to the unavailability of spectrum.
Telekom Malaysia which already holds over 49 per cent equity stake (which it bought for over Rs 730 crore in Spice has been looking at expanding its base in India beyond just the two circles.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
Experts argue that the cost savings both in terms of capex as well as operating costs can be substantial in the next one to two years.
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Market regulator asks bankers to use real time gross settlement system for IPOs.
The new platform allows subscribers to be on instant messaging even if they are overseas and roaming in one of the member-operator's service.
Telecom regulator Trai has initiated action against cellular operators including Bharti, Idea and Hutchison for defying its order on selective blocking of calls originating and terminating in some basic service operators' networks.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
Airtel, Vodafone, BSNL increase subscriber share while Idea manages to retain
GSM service provider Idea Cellular might get spectrum to start operations in the Mumbai circle by the end of the year, with the ministry of telecom close to clearing its application.
Launching a counter offensive in the ongoing controversy over stake holding in Idea Cellular, Tatas on Tuesday dubbed the position of joint venture partner AV Birla Group as "misleading" and asserted that they were under no legal obligation to exit f
Providence Equity Partners of the US, which had made an abortive attempt to enter India through the acquisition of C Sivasankaran's stake in Aircel last year, has picked up a 15 per cent stake in the Aditya Birla Group-controlled Idea Cellular.
Mobile phone service providers alone jointly reported gross revenue of Rs 55,164.18 crore (RS 551.64 billion).
In times of high interest rates, it is not a very bright idea to take a loan and invest in an IPO
Department of Telecom had sought the legal opinion of the matter from the government's counsel.
The total subscriber base crosses 115 million mark.
The initial public offer of Aditya Birla group flagship company Idea Cellular was oversubscribed more than 57 times in the process generating the highest ever demand of Rs 1,21,557 crore
Telecom operator Idea Cellular said it is on track with its plans to raise Rs 2,500 crore (Rs 25 billion) through its initial public issue and plans to clear all formalities by the month-end.
The company will go in for a pre-IPO private placement of 15 per cent of the shares to be offered through the issue.
The Singapore Technologies Telemedia (STT) and Telekom Malaysia (TMI) consortium has pulled out of the transaction for acquiring 47.7 per cent stake in Idea Cellular for a consideration of $390 million.
The total outstanding dues against Bharti Airtel is Rs 11,235.50 crore.
The Indian cueist proved too good for former World champion C Praput of Thailand in the final.
