S Addepalli, Tata Comm senior vice-president said, "There is no liquidity or critical funding issue in the company. We have $300 million as cash on our books." Tata Communications had approached the government, a 26 per cent partner, for changes in the shareholder agreement to raise additional funds. It had sought permission to raise debt for expansion. The government, however, sought more information regarding the financial implications of the plan.
Tata Communications on Wednesday announced that it would acquire NYSE-listed Kaleyra, a global omnichannel integrated communication services provider with a set of proprietary platforms offering targeted personalisation through messaging, video, push notification, e-mails and voice-based services, and chatbots. The acquisition is an all cash deal. Tata Communications has agreed to acquire Kaleyra at a price per share of $7.25, for a total consideration to Kaleyra shareholders of approximately $100 million, besides the assumption of all outstanding debt.
Tata Communications said it has signed a partnership agreement with TE Data SAE for expanding its global VPN services to Egypt. TE Data SAE is a subsidiary of Telecom Egypt and is a leading P-based data communications carrier. Both the companies have interconnected their respective infrastructures, thus setting up multiple, network-to-network interconnection (NNI) points that would connect Tata Communications' European & Indian network hubs with TE Data's facilities in Egypt.
Tata Communications (formerly VSNL) has acquired a 50 per cent stake in Beijing-based telecom and IT services firm China Enterprise Communications for an undisclosed sum. The acquisition was done through its wholly owned subsidiary, Tata Communications International Pte.
In 2008, Tata Communications had entered into a strategic partnership with BitGravity for licensing content delivery network technology and federation of networks of both entities.
The incentive-based IHQ status, awarded by Singapore's state investment agency Economic Development Board, would also see Tata Communication increasing its Singapore workforce by 60 per cent to 200 over the next four years.
The investment, which will be raised through internal accruals and various funding modes, is part of the company's $2 billion capex plans announced in 2008. The company had intended to make investments of $2 billion over the next three-year period.
Tata Communications has invested around Rs 6.5 billion in developing its IoT business, which is being managed by some 75 executives over the past three years.
The DoT is acting as a liaison between telecom companies and the CAG for an audit by the latter.
TCL wants to raise around Rs 10 billion through a rights issue, sources familiar with the developments said. This means the government will have to invest Rs 2.6 billion to retain its stake in the company, in case it approves the issue. The company needs to raise fresh equity for any fresh borrowing, as it has already reached the maximum limit of debt vis-a-vis its net worth, as stipulated under the shareholder agreement.
As Reliance Communications (RCom) is struggling to sew up a deal with South African telecom major MTN, another Indian telecom service provider Tata Communications is all set to get a majority stake in South African telecom firm Neotel.
The service will cover areas where no network is available and will be provided by INMARSAT, which has 14 satellites.
Tata Communications on Monday said it had not received any communication from the Department of Telecommunications (DoT) on the issue of demerger of the company's surplus land.
The partnership would allow Tata Indicom broadband customers to set up Wi-Fi hotspots at their premises instantly, the company said.
The promoters of large companies such as Wipro and Tata Communications will have to shell out more stake to comply with the public shareholding norms after the Sebi said capital issued outside India would not be accounted for in the calculation of "public shareholding".
The IZO platform provides large business houses to jointly use their private IT network along with public network.
Tata Group is set to become India's first homegrown iPhone maker after Taiwan's Wistron Group agreed to sell a plant in Bengaluru to India's largest conglomerate. Wistron's board approved the sale of Wistron InfoComm Manufacturing (India) Private Ltd to Tata Electronics for $125 million, the Taiwanese electronics manufacturer said in a statement on Friday. The unit operates an iPhone assembly plant near Bengaluru.
After making its entry into the Bombay Stock Exchange's benchmark 30-share index Sensex in May
Chandrasekhar's letter seeks to convey the impression that the Tata Group kept quiet when it stood to benefit from violations of norms.
In its first official comment on the Corus deal since a rival bid came up, Tata Steel said on Tuesday that its offer for buying out the Anglo-Dutch steelmaker remains valid in spite of a counter bid from Brazil's CSN.
Tata Motors, India's leading manufacturer of heavy and light automobiles, is planning to launch 20 new variants in coming two years
The CEOs, sources said, also discussed the steps to raise domestic production of coal.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
Industry executives say the government could help in lowering prices of green vehicles by encouraging domestic research and development.
A host of passenger and commercial vehicle manufacturers displayed 'green' vehicles at the Auto Expo. Maruti Suzuki, Hyundai and Tata Motors displayed 100 per cent plug-in electric car concepts, while commercial vehicle manufacturers like Ashok Leyland displayed concept hybrid buses, fuelled both by electricity and diesel.
IT major Tata Consultancy Services has bagged the contract to implement end-to-end solutions for national flag carrier Shipping Corporation of India.
Tata Motors on Thursday launched a new model in its Indigo XL range, which comes with a longer wheel base.
Ahead of two crucial audits, the Ministry of Civil Aviation (MoCA) has proposed to allow deputy director generals (DGs) and officers of Indian Air Force (IAF) to apply for the post of chief of India's aviation regulator. The current head of the Directorate General of Civil Aviation (DGCA), Arun Kumar, has been promoted as secretary and is expected to move out some time soon. DGCA has four Deputy DGs with experience in different fields of aviation.
Infosys chairman N R Narayana Murthy has emerged as India's most admired business leader for the fourth consecutive year, according to a survey by brand consulting, advertising and PR firm Brand-comm.
The government on Saturday said it would present a bill on the revised Companies Act in Parliament before June 2005.
The increase in bus and truck sales of Tata Motors and Ashok Leyland pushed commercial vehicle sales up by a robust 35.7 per cent in the first eleven months of this fiscal.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The market position from here on is expected to go up'.
Tata Group's CLiQ is the latest to join the e-commerce club, to compete with the likes of Amazon, Flipkart and Snapdeal.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
From Kudankulam to the Land Bill, the author takes the Twitter route to capture the infra action of 2013.
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