Tuesday, November 5

Tag: Reliance Communication

Reliance Jio Raises Rs 2,000Cr Through Electronic Bidding Platform (EBP)
FUNDING

Reliance Jio Raises Rs 2,000Cr Through Electronic Bidding Platform (EBP)

Reliance Jio Infocomm Ltd. today raised Rs 2,000 crore through issuance of non-convertible debentures on the BSEs new platform and the proceeds would be utilised for roll out of its digital services business. The issue received bids worth over Rs 3,500 crore. The five-year debentures will bear a coupon of 8.32% per annum. "The proceeds of the issuance shall be utilised by Reliance Jio Infocomm Ltd for rolling out a state-of-the-art digital services business in India," it said. Reliance Jio said it is the first non-financial company to raise funds digitally through an electronic bidding platform (EBP). “This is also the largest debt issuance in the Indian market by any issuer since the electronic bidding platform has been mandated by Securities and Exchange Board of India (Sebi) for pr...
Facebook fights for free Internet in India, global test-case
News

Facebook fights for free Internet in India, global test-case

Reuters: India has become a battleground over the right to unrestricted Internet access, with local tech start-ups joining the front line against Facebook Inc founder Mark Zuckerberg and his plan to roll out free Internet to the country's masses. The Indian government has ordered Facebook's Free Basics plan to be put on hold while it decides what to do. The program, launched in around three dozen developing countries, offers pared-down web services on mobile phones, along with access to Facebook's own social network and messaging services, without charge. But critics say the program, launched 10 months ago in India in collaboration with operator Reliance Communications, violates principles of net neutrality, the concept that all websites on the internet are treated equally. It wou...
India is temporarily banning Facebook’s plan to provide free internet to the developing world
News

India is temporarily banning Facebook’s plan to provide free internet to the developing world

Facebook's plan to provide free internet to the developing world just hit another hurdle: The Indian regulator is ordering a temporary ban on the service, called Free Basics, reports The Times of India. Free Basics - part of Internet.org - is a service offered by the social network in some emerging markets that lets users access some websites for free. source- gettyimages The aim is to help bring people online for the first time, but has come under sustained criticism for allegedly violating the principles of net neutrality. Net neutrality dictates that all data should be treated equally, and companies cannot pay for faster access or preferential treatment, so as not to stifle innovation and create hurdles for startups unable to pay. But because Free Basics zero-rates - that is...
Reliance Communication Acquires Sistemas Indian Telecom Business
News

Reliance Communication Acquires Sistemas Indian Telecom Business

Billionaire Anil Ambani-led Reliance Communications today said it will take over Russian conglomerate Sistema's Indian mobile telephony venture that operates under the MTS brand. While financial details of the deal were not immediately announced, RCom said Sistema Shyam Teleservices Ltd (SSTL) will hold a 10 percent equity stake in RCom as a result of the deal. In addition, RCom will assume the liability to pay the government installments for SSTL's spectrum, amounting to Rs 392 crore per annum for the next 10 years. "RCom will acquire approximately 9 million customers and approximately Rs 1,500 crore of annual revenues by virtue of the transaction," the company said in a statement. In addition, RCom will acquire SSTL's most valuable and superior 800/850 MHz band spectrum, idea...