RInfra will utilise proceeds of stake sale to reduce debt. As part of the deal, generation, distribution and transmission assets of Mumbai will become part of the new SPV.
Deal gives RCom access to 850 MHz band which can be used for 4G services.
Reliance Capital is the financial services arm of Anil Ambani-led business conglomerate Reliance Group
Anil Ambani said his group firm RCom is tying up ‘trading and sharing’ of spectrum with Mukesh Ambani-led Reliance Jio including for the much-awaited 4G services.
Anil Ambani’s company says it won’t exit project; seeks amicable solution.
Anil Ambani said that the group’s recent acquisition of Pipavav Defence Company with assets worth more than Rs 10,000 crore would be converted into a global centre of shipbuilding.
Sistema Shyam is one of the market’s smallest players with nearly 10 million customers and less than a one per cent market share. Yevtushenkov owns around 62 per cent in the Russian parent.
Reliance communications and AFK Sistema have entered into exclusive discussions on potential merger between the SSTL and RCOM through a stock swap.
Apart from Mahindra & Mahindra, the Hero Group too had reportedly shown interest in acquiring the company.
The companies will first offer the app in seven of India’s 22 regions, or zones and it will then go nationwide in the next 90 days.
On the other hand Reliance Capital which is the parent of Reliance Media Works will use the realisation for debt repayment.
Reliance MediaWorks-Carnival Cinemas deal will exclude Mumbai’s IMAX Wadala and some other properties worth Rs 200 cr.
Modi had used Gandhi Jayanti to start the cleanliness drive and ordered ministers to sweep areas clean.
EPC business revenue stood at Rs 590 crore and the order book at Rs 6,181 crore, the company said.
The process of issuing speed certificate for the Mumbai Metro is almost over, sources at the RDSO told PTI.