At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
The company will structure its services under four business segments -- Data, voice, WiMax and National Long Distance services -- that would help it increase focus on customer segments and improve revenue generation. The group will realign operations of Reliance Globalcom (formerly Flag Telecom), Reliance Globalcom Services (earlier acquired Yipes Enterprises) and Reliance Vanco Group (formerly Vanco Group) under the four proposed verticals.
BPCL and ONGC raised $4.9 billion in 2016-17 against $1.65 billion raised by Reliance
India's booming mobile services market will see investments of over Rs 100,000 crore (around $24 billion) by 2010, the fastest investment ramp-up seen in any telecom market globally even as analysts predict a bruising battle that will see tariffs fall sharply.
Anil Dhirubhai AG company Reliance Communications became the first CDMA telecom service provider in India on Monday to launch Blackberry, the push mail smart phone from Canada-based Research in Motion.
Reliance is looking at a cost of Rs 1 lakh per base station, which would be used to transmit telecom signals. Compare this with the existing players who have set up towers incurring a cost anywhere between Rs 5 lakh and Rs 50 lakh, depending on the height and location.
Gearing up for its pan-India 4G services launch in coming months, Reliance Jio Infocomm has approached the Department of Telecom for a network test conducted along with security agencies.
The government on Wednesday said two Anil Ambani companies have been fined a total of Rs 5.49 crore (Rs 54.9 million) for shutting down rural telephone services during 2010-11 in violation of the USOF agreement.
What's happening in the telecom sector are classic bullying tactics - do the wrong thing, threaten to do worse, get the threatened party to sue for peace, and walk away smelling of roses after a "compromise".
Congress party has alleged that Modi government is surreptitiously taking steps to protect the interests of six leading telecom companies.
Bharti Airtel remained the top telecom pick of Indian companies followed by Reliance Communications, according to the latest report by world's leading financial management and advisory company Merril Lynch.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Within days of revoking a non-compete agreement that his group had with his younger brother Anil, Relianec Industries Ltd chairman Mukesh Ambani is believed to have held a long-drawn-out discussion with telecom czar Sunil Mittal.
Mukesh's television unit has been aggressively wrapping up deals with hundreds of small players in a street-by-street effort to conquer that final hurdle in its cable TV drive
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
Billionaire Mukesh Ambani on Monday introduced daughter Isha as leader of his conglomerate's retail business as he details succession planning at India's most valuable firm. Ambani had previously named son Akash as chairman of the group's telecom arm, Reliance Jio. At Reliance Industries Ltd's 45th annual shareholders meeting, Ambani introduced Isha as leader of retail business as he invited her to speak on integrating WhatsApp with the retail business.
The total outstanding dues against Bharti Airtel is Rs 11,235.50 crore.
The company wants to woo post-paid customers and rent out its assets to cut debt.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
Abhik Sen, who tried out the new service, finds out it is good for data and apps, but calls are still sketchy
The numbers hidden behind the results tell a story of zero-return businesses and lower prospects for the core units
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.
BSNL on Wednesday denied allegations that it was blocking calls of private telecom operators like Reliance and Tatas, even as Trai asked all operators to maintain "status-quo" till the interconnection norms are announced.
In one of the largest deals by an Indian telecom company, Reliance Infocomm has raised $300 million from overseas markets through syndicated loans to part-finance its $5.5 billion telecom project.
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets within 6-9 months of raising fresh capital. Its chief executive Akshaya Moondra said rollout of the modern 5G telecom services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout. "With this round of funding, we believe we will be able to (come) back to participate in the industry growth which has not been possible," he said.
Telecom and petchem businesses will drive growth for RIL.
Facing a penalty of Rs 150 crore (Rs 1.5 billion) for illegal rerouting of international calls, Reliance Infocomm is understood to have submitted its reply in the appellate telecom tribunal TDSAT justifying its position.
According to the latest data released by Cellular Operators' Association of India, the total GSM subscriber base rose to 257,85 million, up from 249.35 million in November 2008, a growth of about 3.25 per cent in December.
Taking cognizance of cellular operators' complaint, Telecom Regulatory of India has asked Reliance Infocomm to explain about roaming services being promised by them on their WLL phones.
ADAG, Mahindra BT, L&T Infotech may team up with PEs.
Bharti Airtel on Friday announced the closure of its agreement with Reliance Jio Infocomm to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in three circles to Jio. Airtel said it has received Rs 1,004.8 crore (net of tax) from Jio for the proposed transfer.
The number of mobile phone connections in India rose by 1.96 million in March, after reducing by 1.06 million in February, latest data from the Telecom Regulatory Authority of India (Trai) showed. The number of new connections have hit a 9-month high. In these past 9-months, the total number of wireless (mobile phone) subscriptions had reduced on 5 occasions, the data shows.
Schuldschein is an alternative way to raise funds instead of loans or bonds and deals can run from $12 million to more than $1.13 billion. These instruments include tranches of different maturities and currencies and investors are spread across the world.
By its another move, which can potentially take the steam out of every other offers of telecom operators in the Punjab market, Reliance Communications has announced night time calling absolutely free in Punjab by offering Special Tariff Voucher (STV) of Rs 7.
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