RCom and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to $23.3 billion in 2022, which is the lowest since 2019, when it was $15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to $23.3 billion -- the lowest annual inflows since 2019 when it was a low $15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights.
Cellular Operators Association of India (COAI) and Association of Unified Telcom Service Providers of India (AUSPI) have opposed the proposal to compensate consumers.
The CBI is probing whether the former IRDA chief J Hari Narayan had misused his discretionary powers to favour Reliance General Insurance Company, which has admitted that the extra amount collected by it way of premium was not Rs 1.07 crore, as originally believed, but 20 times as much, report Paranjoy Guha Thakurta and Pranati B Mehra.
DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.
Investors' wealth eroded by a massive Rs 8,21,666.77 crore on Monday as the market saw a massive sell-off not seen in many months. The BSE benchmark Sensex plunged 1,170.12 points or 1.96 per cent to close at 58,465.89. This is the worst single-day drop for the gauge in over seven months. This was also the fourth straight session of decline for the Sensex.
Reliance Jio submitted the highest pre-auction deposit.
Telecom regulator TRAI has imposed cumulative penalty of Rs 50 lakh on nine mobile operators for failing to meet quality of service benchmarks in the second quarter ended June 2013, official sources said.
Telecom operator Vodafone has been the top gainer of customers through mobile number portability facility while Reliance Communications is the biggest loser.
The uniform SUC, if implemented as per recommendations made by Telecom Regulatory Authority of India, will provide relief for mobile operators such as Airtel, Vodafone and Idea, but will increase rates for broadband wireless access spectrum holders like RJIL.
RIL says Sebi has not asked for revision of offer price, expecting clearance soon.
The Department of Telecom (DoT) has slapped a penalty of Rs 2,000 crore on Vodafone Idea and Rs 1,050 crore on Bharti Airtel based on sector regulator Trai's recommendation five years ago, according to sources. The DoT has given three weeks time to the telecom operators to pay the penalty, a source said while sharing the content of the demand notice served to the companies on Thursday. When contacted Bharti Airtel spokesperson said, "We are deeply disappointed with the arbitrary and unfair demand based on Trai recommendations of 2016 relating to provisions of point of interconnect to a new operator.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
The government expects the rollout of 5G services to start from early October in the country, Union minister Ashwini Vaishnaw said on Saturday. "As soon as the spectrum auction ends, within a few days itself, we will allocate the spectrum. "We expect that the 5G roll-out will happen from the beginning of October and within a year or so, we should have a good rollout in the country," the Union Minister for Communications, Electronics and Information Technology Ashwini Vaishnaw told reporters in New Delhi.
India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
RCom intends to utilise the proceeds of the proposed transaction to reduce its debt.
Telecom complaints against other players were below 500 in the first half of 2016.
In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route. Briefing reporters on the decisions taken by the Cabinet, Telecom Minister Ashwini Vaishnav said nine structural reforms for the telecom sector were approved. The definition of AGR, which had been a major reason for the stress in the sector, has been rationalised by excluding non-telecom revenue of telecom companies.
The company has increased the cost of 1 GB of 3G internet usage to Rs 156 from Rs 123 it charged earlier.
DoT still working on final AGR dues due to varying accounting practices. Telecom operators have been submitting two separate audited details of deduction towards interconnection usage charges and roaming fee to the DoT.
In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.
Adani Enterprises' proposed Rs 20,000 crore (Rs 200 billion) fundraising via fresh issue of equity shares through a public offer would be the fourth biggest by Indian companies, excluding banks and non-banking financial companies.
The total number of telephone connections in the country crossed the record one billion mark in May, bolstered by growth in number of mobile users.
Reliance Communications Ltd (RCom) on Friday announced the sale of 51 per cent stake in its telecom tower business to Canada-based Brookfield Infrastructure Group, for an upfront cash payment of Rs 11,000 crore.
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
RCom had net debt of about Rs 40,222.6 crore at the end of June 30.
Facebook Inc is launching an open platform for online content and application developers to join its Internet.org service.
The debt resolution involves RCom exiting the SDR framework with no conversion of debt into equity and zero write-off by lenders, Anil Ambani said, adding that he expects full closure by March 2018.
Airtel, Vodafone, Idea, RCom, Reliance Jiosubmitted applications.
The agency had earlier alleged that the company had sold its 9.1% stake to Delphi for Rs 10 crore --a rate much lower than the prevalent market price.
RCom and Aircel will hold 50 per cent each in the new company
Voice calling will be free on Jio phones for life and post December 31, 10 data plans will be offered
The Cellular Operators Association of India (COAI) has bluntly told the government there is no reason for its members to roll out 5G networks as they will be unviable if 'captive private wireless networks' are allowed to be run by enterprises. The COAI, which has Bharti Airtel, Reliance Jio and Vodafone Idea as its key members, has written to Communications Minister Ashwini Vaishnaw saying there is 'no business case for the roll out of 5G networks'. Permitting such captive networks will 'diminish the revenue so much that there will be no viable business case left for the telecom service providers and there will not remain any need for 5G network roll out by telecom service providers (TSPs)'.
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
With the addition of 4,000 employees, the RCom staff strength is estimated to rise to 9,500
The deal includes Reliance Infrastructure's integrated business of Generation, Transmission and Retail Electricity Distribution
Telecom major Bharti Airtel led the growth in segment with net addition of 1.31 million subscribers.
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