Private equity (PE) investments in India have fallen to a 6-year low at $24.2 billion in the financial year ending March 2024. Investments via PE deals are down 47 per cent compared to FY23, when private equity deals worth $45.8 billion were signed. According to data sourced from Bloomberg, PE firms had signed record deals worth $80 billion in the financial year ending March 2022.
Companies such as Tata Sons and Bharti Telecom, which are unlisted but have listed subsidiaries, may soon have to file periodic financial statements with the registrar of companies under the new provision of the Companies Act. The provision requires greater financial disclosures by a certain category of unlisted companies.
Telecom Secretary R Chandrashekhar on Thursday said 100 per cent foreign direct investment (FDI) in telecom would not be possible before the 2G auction.
During the proceedings, Spice Telecom's counsel Mukul Rohatgi contended that DoT decided not to allow the licence as the operator had a turnover of only Rs 1,100 crore (Rs 11 billion). The decision was discriminatory, he said. However, Telecom Dispute Settlement and Appellate Tribunal declined to pass any interim relief to the firm.
The SC had reserved its verdict on a bunch of similar petitions.
Sistema Shyam Teleservices on Wednesday said that it has no plans to acquire any telecom service provider and it will wait for the outcome of its curative petition filed before the Supreme Court.
The network sharing agreement is the start of a new era of partnership between the brothers. More deals on sharing towers and intra-city fibre network are likely.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
Among the Sensex firms, major winners included Tata Steel, rising 3.77 per cent, followed by HCL Tech, which gained 3.62 per cent. IndusInd Bank and PowerGrid closed with a gain of 3,60 and 3.34 per cent, respectively. Other gainers were Tech Mahindra, Hindustan Unilever, Bajaj Finserve and Bharti Airtel, among others. On the other hand, ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance and TCS were the only laggards, sliding up to 2.94 per cent.
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.
The telecommunications industry in India is one of the fastest growing sectors in the world. The booming telecom industry has been attracting large amount of investments in the country.
The government on Friday reduced the rate of interest and penalty for delayed payments for telecom companies having unified access licensees, including basic companies migrating to UASL, national long distance and international long distance players,
This investment, up from $20 billion seen last year, would be for continuing the development of 3G, Broadband Wireless Access and expansion of existing networks, said R K Pathak, secretary of the Telecom Equipment & Services Export Promotion Council, in Singapore at the CommunicAsia 2010, a Singapore exhibition for global telecom industries.
Telecom Minister A Raja said on Friday that he has met Home Minister P Chidambaram over the issue of import of telecom equipment, especially from China, and hoped the issue would be resolved "in a couple of weeks".
'In the next 15-20 years, India will have at least 50 new (AI-driven) billion-dollar companies that are going to solve problems for the largest companies around the world.'
The phone will work on both 2G, 3G as well as 4G networks seamlessly.
The telecom and banking departments along with the railways accounted for the maximum number of public grievances among the various arms of the government in the last three years.
According to data released by the telecom regulator, the wireless subscriber base increased from 601.22 million in April to 617.53 million by the end of May 2010, registering a growth of 2.71 per cent.
Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival -- it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn.
After falling 11 per cent over the past six months, shares of Bharti Airtel gained over three per cent on news that the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) had given a split verdict on inter-circle 3G roaming arrangements between Bharti, Idea and Vodafone.
The government takes pragmatic steps on telecom.
The industry had seen a robust growth of 20 per cent in revenues at Rs 1,55,683 crore (Rs 1,556.83 billion) in 2008-09.
The 2G judgment and Trai spectrum pricing have led to a policy that makes sense for only one survivor.
Private telecom operators have created ripples in the Indian telecom market by accounting for 43 per cent of total telecom services revenue in 2004-05.
Asserting that leading international consultancy firm A T Kearney had rated India as the third hottest FDI destination, India on Thursday sought investment from Taiwan in telecom and ICT ventures.
Anil Ambani group company FLAG Telecom on Wednesday announced the appointment of Punit Garg, who was heading Reliance Infocomm's international business, as its president.\n\n
Telecom equipment maker Ericsson said on Thursday it had signed a deal to supply a CDMA mobile network to India's Shyam Telecom.
GSM operators say upcoming auctions will be a dud, while govt hopes to rake it in.
The Supreme Court Registry is learnt to have refused to accept the Centre's plea seeking modification of its 2012 verdict in the 2G spectrum case which had said the State was duty bound to adopt the auction route while transferring or alienating the country's natural resources.
The latest row -- termed as independent India's largest financial scam -- is centered on the allocation of scare 2G spectrum at throwaway prices.
Mobile operator Spice Telecom, which is planning to tap the capital market with an initial public offer, has got Foreign Investment Promotion Board's nod for the public issue.
This move gives Airtel and Chinese major immense benefits.
The robust earnings, shown by corporate India in the first half of this year, may not sustain the momentum due to slowdown in performance of IT and telecom sectors, making it difficult to match the forecasted growth for the entire fiscal.
The public issue of 39,56,808 equity shares would open on December 4 and close on December 7. The company has fixed a price band of Rs 125 to Rs 150 per equity shares to be decided through book building.
The launch of 5G services in India turbocharged mobile download speeds here, pushing the country's ranking 72 notches higher to 47th spot in Speedtest Global Index, ahead of nations like Japan, the UK and Brazil, according to Ookla. India's speed performance has zoomed up 3.59 times since the introduction of 5G, it said dubbing the country's 5G advancement as "remarkable". In this global pecking order, India ranked not only ahead of its neighbours like Bangladesh, Sri Lanka, and Pakistan, but also some G20 countries, such as Mexico (90th), Turkey (68th), the UK (62nd), Japan (58th), Brazil (50th place), and South Africa (48th place).
France Telecom is close to buying the IT business of communication infrastructure provider GTL in the next few days for about $70 million, intended to enter the fast growing Indian telecom space.
