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Jio To Offer Cheap Broadband, Calls, Videos under Rs. 1,000/month

30May By Lavina TolaniNo Comments

News

Jio To Offer Cheap Broadband, Calls, Videos under Rs. 1,000/month

After shaking the telecom market with a new kind of data revolution in the country, Reliance Jio has once again created a buzz as it is about to offer internet, videos and voice call for less than Rs 1000 a month. Such a disruptive offering will not only amp up competition in the telecom sector but surely give an edge to Jio over rival broadband and DTH players. Considering a move targeted on bundled tariffs, a report published on a popular daily has said that the internet telco is venturing into wider internet segment by the end of this year. This will also bring Jio's fibre-to-the-home (services) under unlimited calling through a VoIP (Voice over Internet Protocol) phone as well as JioTV. Reliance Jio presently offers free broadband within unlimited internet at 100 Mbps against ...

28May By Sheldan RungasamyNo Comments

ANALYSIS

Tata vs Reliance: Who is the Biggest?

Tata Consultancy Group and Reliance Industries are currently the two biggest companies in India but differ greatly in terms of the way their businesses operate and in terms of revenues and market valuations. Valuation Tata Consultancy Group leads the race between the two, currently, the Indian company with the highest valuation, Rs 6.11 trillion as of January 2018, while Reliance Industries Group holds a valuation of 6.10 trillion, trailing the software major by little. It should also be noted that TCS has been leading the Indian ground in terms of market capitalization for years since 2013 to be precise. At the time, TCS was leading RIL by up to Rs 4 trillion. However, in April 2017, RIL re-gained its perch of the leader after 4 years with an m-cap of Rs 4.60 trillion. Since then, both co...

Reliance Industries Unit Invests Rs 10 Cr in Digital Healthcare Startup

24May By Lavina TolaniNo Comments

FUNDING

Reliance Industries Unit Invests Rs 10 Cr in Digital Healthcare Startup

Mukesh Ambani led firm Reliance Industries Ltd. (RIL) has invested a mammoth amount of Rs. 10 crores in an early stage healthcare technology platform called KareXpert Technologies Pvt. Ltd. According to the sources, the investment has been made by RIL’s subsidiary and investment arm, Reliance Industrial Investments and Holdings Ltd (RIIHL). A person familiar with the matter said, "RIIHL has bought 22,222 preference shares in KareXpert Technologies Pvt. Ltd by way of private placement at a cost of Rs 4,500 a share and later may buy the entire lot of 66,666 preference shares in a few tranches, probably by pumping in another Rs20 crore." KareXpert Technologies is a digital healthcare provider startup founded in 2004 by Nidhi Jain. Based in Gurugram, company claims its technology to b...

Reliance Industries to Inject Rs 60,000 Crore Capital in Jio

7May By Sheldan RungasamyNo Comments

BUSINESS

Reliance Industries to Inject Rs 60,000 Crore Capital in Jio

Reliance Industries is set to pour Rs 60,000 crore capital in its telecom business, Jio, this fiscal year as the company wishes to roll out its broadband services and expand its wireless network faster, according to two people close to the company. Additionally, Reliance Jio Infocomm Ltd might also borrow the astronomical sum of Rs 1 trillion, according to those sources who wished to remain anonymous. “This is being done as Jio wants to fast-track its plan to scale up its capacity and coverage which would require further infusion of funds,” said one of the sources. Anshuman Thakur, head of strategy and planning at Jio did reveal in an interview on 27 April that the company would keep investing on laying fiber even though it already had the largest optical fiber network in India. ...

Mukesh Ambani’s Daughter To Marry Business Tycoon Soon

7May By Sheldan RungasamyNo Comments

News

Mukesh Ambani’s Daughter To Marry Business Tycoon Soon

Isha Ambani, daughter of India’s richest person, Mukesh Ambani and Nita Ambani, is set to marry Anand Piramal, son of Ajay Piramal and Swati Piramal, in India this year. Anand and Isha have been long-time friends and the former dropped the knee over the weekend at a temple in Mahabaleshwar. Once the proposal accepted, the couple celebrated the joyful news with their parents and other family members, including Isha’s brothers Akash and Anant. Anand, founder of Piramal Realty, one of India’s most successful real-estate companies is also an acclaimed businessman. In 2012, when the real estate business was crashing down. Anand Piramal founded Piramal Realty and raised about Rs 2,700 crore from famous global funding corporations Goldman Sachs and Warburg Pincus. The company grew very ...

Reliance and JM Financial’s Joint Bid Rejected For Alok Industries

16Apr By Lavina TolaniNo Comments

BUSINESS

Reliance and JM Financial’s Joint Bid Rejected For Alok Industries

Reliance Industries has reported that its resolution plan for acquiring Alok Industries in conjunction with JM Financial Asset Reconstruction Company has been rejected by the committee of creditors (CoC). JM Financial had bid jointly with Reliance Industries to acquire mega textile producer Alok Industries. As per the guidelines of Insolvency and Bankruptcy Code, a failure in approval of the resolution plan within the prescribed timeline can make the assets go into liquidation. A RIL spokesperson in a regulatory filing to the exchanges said, We have been lately informed that our plans have not aligned favorably with Committee of Creditors as required under the Insolvency and Bankruptcy Code. Alok Industries had earlier reported that Corporate Insolvency Resoluti...

Reliance Acquires Online Education Portal Embibe

13Apr By Sheldan RungasamyNo Comments

ACQUISITION

Reliance Acquires Online Education Portal Embibe

Reliance Industries recently purchased a majority stake of 72.69% in Indiavidual Learning Pvt Ltd’s online education platform Embibe. Mukesh Ambani’s company is set to pour $180 million over the next three years in the company, according to stock market filings. The deal will also see Lightbox and Kalaari Capital leave the online learning platform’s board as Reliance Industries is buying out their stakes. The two venture funds had invested a combined $4 million in the company back in 2013. The investment in Embibe underlines Reliance’s commitment to growing the education sector in India and the world and making education accessible to the widest possible group of students by deploying technology. Reliance aims to connect over 1.9 million schools and 58,000 universities across India wit...

Mukesh Ambani Draws Salary of Rs 15 Crore For 9th Year in a Row

28Jun By Press Trust of IndiaNo Comments

News

Mukesh Ambani Draws Salary of Rs 15 Crore For 9th Year in a Row

Reliance Industries boss Mukesh Ambani kept his annual salary capped at Rs 15 crore for the ninth year in a row and did not take any stock option even as the remuneration of most executive directors on the board rose. Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs 15 crore since 2008-09, forgoing almost Rs 24 crore per annum. "The chairman and managing directors compensation has been set at Rs 15 crore as against Rs 38.75 crore as approved, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," RIL said in its annual report for 2016-17. His remuneration for 2016-17 included Rs 4.16 crore as salary and another Rs 60 lakh by way of perquisites and allowances. He got retirement benefits ...

CIC Urged RBI To Make Payments Banks as a Members

21Aug By AdityaNo Comments

News

CIC Urged RBI To Make Payments Banks as a Members

Ahead of the commercial launch of payments banks, credit information companies (CICs) have urged RBI to ensure these newbies in the banking space become their members and share data on the transactions. "Payments banks will not be into lending, but the transactions which they undertake will help understand borrowers. Therefore, we have requested the RBI to make them our members," Experian Credit Information Company Managing Director Mohan Jayaraman said. He said RBI has been receptive to the idea and has shown its willingness for the demand, but the changes cannot happen overnight as it will require amendments to the Credit Information Companies (Regulation) Act. Jayaraman further said even though payments banks will not be lending themselves, the data they share will help analyse bor...