RCom and Aircel had signed binding agreements in September 2016 for the merger which would have created an entity with assets worth Rs 65,000 crore.
Reliance Communication has registered a Rs 1, 210 crore loss in the first quarter of FY 2016-17.
Two foreign funds buy 4.5 percent stakes in Anil Ambani led Reliance mutual Fund ahead of the scheduled IPO in October. The IPO is set to generate Rs 1,800 crore which will be used to grow the business and create new inorganic opportunities.
Anil Ambani said Reliance MF has grown from an AUM (assets under management) of under Rs 60 crore in 1995 and Rs 2,200 crore in 2002 to Rs 2.25 trillion now, which is an over 100 times of growth, while the total AUM of the AMC (asset management company) currently is Rs 3.58 trillion.
Anil Ambani said the free market is a force for generating wealth and transforming lives and the real promise of GST is promise of economic liberation. With the promise of ‘One Nation, One Tax, One Market’, it would create a borderless world of 1.3 billion people engaged in a seamless exchange of goods and services, skill sets and capital, labour and ideas.
Within the proposed JV, Reliance Defence will have a 51 per cent shareholding, whereas the remaining 49 per cent will be held by Thales
“Two companies will work together in the field of ammunition amongst others, with projected minimum requirement of Rs 20,000 crore over next 10 years from Indian armed forces,” Reliance Defence Ltd (RDL) said in a statement.
This comes just days after the company’s debt was downgraded by three credit agencies amid fears of a default.
RCom will consider strategic sale of global business to further pare debt, said Anil Ambani.
Reliance Power will set up a 2 million tonnes a year floating LNG import terminal with a floating storage and re-gasification unit (FSRU) to bring the fuel in ships for firing the power plant.
Under the agreement with Antonov, Reliance and Antonov will jointly bid for the Medium Military Transport Aircraft programme of HAL.
Of the two panel session hosted, a panel headed by G. Mohan Kumar, the Secretary at the Ministry of Defence will take on key issues on Defence Procurement Procedure (DPP) of 2016.
To manufacture a wide range of defence equipment. The Indian Army will spend an additional Rs 50,000 crore over the next 10-15 years on different combat vehicles.
Today, only 20 million homes in India have a broadband or another Internet connection – indicating huge potential in a country with a population of some 1.3 billion.
RCCPL has an integrated cement capacity of 5.08 million tonne per annum (MTPA) at Maihar, Madhya Pradesh and Kundanganj, Uttar Pradesh and a grinding unit of 0.5 Mtpa at Butibori, Maharashtra.