This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
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.''
The telecom industry is moving towards a five-plus one model.
Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
Reliance Jio Infocomm is the only company which had in 2010 won a pan-India spectrum for 4G services but is yet to start commercial services.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
The company is also in advanced stages of negotiations to rope in the kingdom's largest telecom service provider, Bhutan Telecom, as partner.
Balwa, who is accused along with 16 others in the case, claimed that he cannot be prosecuted for pushing back Tata in the race as the firm was never in the race to get the 2G spectrum licence
Reliance Mobile will launch BlackBerry Tour smartphone for its CDMA customers priced at Rs 27,990.
Reliance Infratel, the tower business arm of the group's telecom entity Reliance Communications, has allowed the regulatory approval to lapse without coming out with an IPO and is unlikely to revive the process soon. A company spokesperson did not take queries on lapse of the approval period and on whether the company was looking to revive the process by filing a fresh draft IPO prospectus with market regulator Sebi.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
'Interim Budget has ignited the entrepreneurial spirit.'
Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
According to software company Mavernir, the new virtualised networks would lead to a saving of 40 per cent in capex and 34 per cent in terms of lower operations cost for operators.
Reliance Infocomm on Tuesday said the company has not violated the licence agreement in the alleged re-routing of international calls saying the usage of Home Country Direct service by the company was fully recognised by the International Telecom Uni
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
FLAG Telecom, a Reliance group company has denied media reports alleging that it has resorted to high pricing impacting the growth of Indian business process outsourcing units and information technology enabled services.
During the said period, the Consumer Complaints Council of ASCI found 15 advertisers, including Reliance Communications and Idea Cellular, fast moving consumer goods player Dabur and Elder Pharma and coaching centre Career Launcher, violating the council's code.
Reliance Industries' annual general meeting on Friday will be unique in many ways. It's the first AGM after the Supreme Court judgment on K-G gas, the first after the truce between Mukesh and Anil Ambani and the first after the company's big-bang return to telecom.
The adjusted gross revenue (earnings from sale of telecom services) of the top three telecom companies in India - Bharti Airtel, Vodafone India and Idea Cellular declined by 7.98 per cent, 5.14 per cent and 4.91 per cent respectively during third quarter of 2016-17.
Reliance Communications, India's second-largest wireless operator, will launch phone services in Uganda by year-end, marking its first foray into international mobile phone markets.
Reliance Communications-owned FLAG system has won a case against Tatas-owned Videsh Sanchar Nigam Limited in the International Court of Arbitration, which makes it eligible for upgrading capacity of international bandwidth.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
Analysts at rating agency ICRA say the debt level of the telecom companies is very high and the ecosystem for the premium band is not in place.
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
The government is considering withdrawing legal cases against telecom companies, involving disputes of about Rs 40,000 crore, a source said on Tuesday. In line with this, the Department of Telecom has already filed an affidavit before the Supreme Court in a case against Anil Ambani-promoted Reliance Communications to take an informed decision whether to proceed with the present appeal or not, the source said. DoT has said the telecom sector is passing through a financial stress due to various circumstances and telecom services providers are making losses.
RCom and Aircel will hold 50 per cent each in the new company
Reliance Industries on Friday said that their offer of roaming facility across 673 cities on WLL phones was "well within the licence conditions" and the company has communicated this to Telecom Regulatory Authority of India.
RIL is also set to file its tariff plans, which will mark the company's intent to commercialise Jio's operations, with the regulator this week
Telecom subscriber base crossed the 95-crore mark in August, after a gap of more than two years, on the back of higher mobile users whose number touched 92.43 crore.
Riding on a strong stock market rally, Anil Ambani-led diversified business conglomerate Reliance Group has crossed Rs one lakh crore market valuation.
Shares of telecom services providers - Reliance Industries (parent of Reliance Jio), Bharti Airtel, and Vodafone Idea - have shed up to 23 per cent so far in the current calendar year as growth in the wireless subscriber segment begins to plateau amid higher tariffs and rising costs of smartphones. By comparison, the benchmark S&P BSE Sensex, and sectoral index BSE Telecom have dipped 1.8 per cent, and 12.6 per cent, respectively, ACE Equity data shows. However, analysts expect the trend to reverse soon as telecom services providers focus on the next leg of growth -- fixed broadband (FBB) segment.
Firms to pay Rs 24,700 cr if spectrum formula is accepted.
Refuting the allegations of TRAI that the telecom service providers are making huge gains in the sector, the firms had said they have been investing hugely on the infrastructure.
Billionaire Mukesh Ambani's Reliance Industries has started a limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances