Reliance Communications has sought government approval for sponsoring a secondary Global Depository Receipts offering of up to $1.2 billion, representing 6.53 per cent of the total paid-up equity shares of the company.
Hutchison has made it clear to prospective bidders that it can sell its 67 per cent stake in Hutchison Essar without offering the first right of refusal to the Ruias who hold the remaining 33 per cent in the joint venture.
Reliance Communications is in discussions with American billionaire and financier George Soros to raise funds for the Hutch-Essar acquisition.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
Ambani to up ante by $3 bn on Ruia's hint at larger premium.
Corporate giants Reliance Energy, Tata Power and Essar are among the 11 companies left in the fray for the two 4,000 MW power projects to be set in Gujarat and Madhya Pradesh at an investment of Rs 20,000 crore (Rs 200 billion) each.
Fernandes wanted Coca-Cola Company to not just transfer 60 per cent of the shares of its Indian firm but also the formula for its concentrate to Indian shareholders.
The calculation excludes cross-holding of listed group cos in each other.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
Justice Brijesh Sethi held that the 2018 amendment to the Prevention of Corruption Act relating to Section 13 (1)(d) would not come to the rescue of the acquitted accused in this appeal.
Petronet India Ltd is likely to formally shelve the Rs 2,450 crore (Rs 24.5 billion) central India petroleum product pipeline project this month as its promoters are no longer keen on the project.\n\n\n\n
In a major boost to oil majors aspiring to tap the retail oil sales market worth $15 billion a year, the government on Monday allowed marketing licence holders to import petrol and diesel.
CEOs fear any change in status of the mines will mean disruption in production, loss of investment and increased production cost for user industries.
Delhi Police on Thursday arrested 2 more persons in connection with the corporate espionage case.
Days before US President Barack Obama's high-powered visit here, the US-India CEO Forum has been reconstituted with Cyrus Mistry replacing Ratan Tata as its co-chairman
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.
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
The high court's order came on a plea by acquitted individual and Kusegaon Fruits and Vegetables Pvt Ltd director Asif Balwa that the CBI has not placed on record the mandatory authority under the provisions of the CrPC.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
The Delhi high court on Tuesday refused to grant early hearing on the Central Bureau of Investigation's appeal challenging the acquittal of former Union telecom minister A Raja and others in the 2G spectrum allocation scam case.
Execs of RIL, Essar, Cairn India, Jubilant Energy, ADAG detained.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
Of BSE 500 companies, promoters of 142 companies have pledged their holding.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
The court said a 'scam was created when there was none'.
Cairn India is 25th on the list with 22.2 per cent CGR.
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