'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
Billionaire Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market valuation mark. The market heavyweight's stock jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE. It finally settled at Rs 2,928.95 per piece, up 0.90 per cent on the bourse.
Faced with numerous challenges relating to spectrum allocation, spectrum charges, tariffs and challenges on the regulatory front, the telecom sector hopes for positive steps in the Union Budget 2013-14 to provide the much needed momentum to the sector.
For the PMO this is urgent as the Digital India framework would depend on how the telecom companies perform. It is also linked to the proposed auction of 5G airwaves.
On Monday, Attorney General R Venkataramani, appearing for the Centre, mentioned an interim application before a bench of Chief Justice D Y Chandrachud and Justice J B Pardiwala.
Faced with numerous challenges relating to spectrum allocation, spectrum charges, tariffs and challenges on the regulatory front, the telecom sector hopes for positive steps in the Union Budget 2013-14 to provide the much needed momentum to the sector.
Buyers from 19 countries participated and showed interest in sourcing from India.
The Symbiosis Institute of Telecom Management invites applications for admission to its two-year, full-time autonomous Post-graduate Diploma in Telecom Management Programme.
Delinking spectrum from the licences in the aftermath of the 2G scam, Sibal said, "In future, the spectrum will not be bundled with licence. The licence to be issued to telecom operators will be in the nature of 'Unified Licence' and the licence holder will be free to offer any of the multifarious telecom services."
Sixth Pay Commission has urged the government that all Indian Telecom Service (Group A) officers be absorbed in the public sector telecom service providers, Bharat Sanchar Nigam Ltd & Mahanagar Telecom Nigam Ltd, or sent to the surplus pool. It has also suggested winding up of the Telecom Commission saying BSNL and MTNL now provide extensive services along with several private sector operators. The report states there is no need to retain the 2400 cadre strong-ITS (Group A).
Analysts expect structural risks such as risk to voice revenues, steep correction in data realisations, capex spend and rise in churn and subsequent increase in costs to continue in the medium term
The Mubble app helps users track and control their mobile data usage and telecom spends.
In a setback to former Telecom Minister Sukhram, the Delhi high court on Wednesday upheld his conviction and three year jail term in the 1996 telecom scam.
Telecom minister A Raja on Tuesday said he followed the same procedures as his predecessors in awarding licences and allotting spectrum and decisions were taken in conformity with the opinion of the top law officer.
Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
Internet major Google will make the Pixel series of smartphones in India and they will become available from 2024 onward, a senior company official said on Thursday. Google senior vice president for devices and services, Rick Osterloh, said the company will partner with international contract manufacturers to make the phones in India.
Mobile phone firms are willing to let go of inactive subscribers because holding on to them doesn't help in any way in the new order.
Telecom Minister Kapil Sibal asked private telecom operators to replicate the success story of telecom revolution -- witnessed in urban India-- in rural areas as well.
Vodafone Idea on Monday paid Rs 2,500 crore to DoT and promised to pay another Rs 1,000 crore before the end of the week.
Inter-ministerial body Telecom Commission on Tuesday approved hiking foreign direct investment limit in the sector from 74 per cent to 100 per cent.
German MNC Siemens on Tuesday announced consolidation of its telecom operations in India by buying out 100 per cent equity stake in its telecom company, Siemens Public Communication Networks Pvt Ltd, for a consideration of Rs 195 crore (Rs 1.95 billi
The commission has disagreed with another key proposal -- that of allowing operators a deferred payment scheme after the auction.
A Bench headed by Justice Altamas Kabir sought an reply from 11 repondents Telecom Regulatory Authority of India, Association of Unified Telecom Service Providers of India, Reliance Communications, Tata Teleservices, Vodafone Essar Mobile Services, Cellular Operators Association of India, Bharti Airtel, Idea Cellular, BPL Mobile Communications, HFCL Infotel, and Spice Communications -- as to why they should not pay ADC to BSNL.
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.
Close to half the telecom equipment revenue came from carrier equipment manufacturers, which saw a 12.12 per cent dip in earnings to Rs 58,294 crore during the year, according to the survey 'V&D 100' by Voice&Data journal.
Given the escalating cost of doing business, the revenue opportunity is decreasing and consolidation is an inevitable part of the industry.
Sibal said that Trai had compared India with China.
A crown of thorns awaits the next telecom minister at Sanchar Bhawan as the new incumbent will have to address a host of tricky issues like industry infighting, tariffs and improving financial health of the Rs 2.3 lakh crore industry.
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.
Manoj Sinha will retain his current role in the railways.
Amidst the controversy over the allocation of spectrum and grant of telecom licences, the government on Monday said all licences are proposed to be renewed after 10 years instead of the 20-year period earlier.
Nearly 20 lakh jobs will be up for grabs for those having skill such as IoT, mobility solutions, telecom infrastructure, network architectures, sales among others.
The Department of Telecom on Monday said it would hold consultations with various operators on the issue of foreign direct investment but denied that the FDI issue was in any way linked to unified licencing regime.
It's difficult to say whether the CBI will find enough proof against telecom minister A Raja or whether it will get caught in the parcel of half-truths he's been dishing out on how he's just followed the recommendations of the Telecom Regulatory Authority of India and the actions of his predecessors.
'I feel more like a chess player, thinking for long hours how to make the next move," Telecom Secretary Aruna Sundararajan tells Surajeet Das Gupta.
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.
