Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited. In December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing […]
Anil Ambani Group’s Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects. IREDA is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). Reliance Commercial Finance Limited, the company subsidiary that operates […]
Reliance Infrastructure said it disagreed with the decision by India Ratings, a unit of Fitch, to downgrade its debt over delays in equity infusion and monetization of assets. “The Company respectfully disagrees with the views of India Ratings,” it said today. “The Company has taken series of steps for asset monetization including inter alia filing […]
Reliance Communications inducted its CEO and the president of its telecom business into its board of directors. Punit Garg, President, Telecom Business and Chief Financial Officer V Manikantan have been appointed as non-indepedent directors on the company board. The move comes after the company’s plans to merge with Aircel Cellular fell through and the company […]
Reliance Defence, the defence-focused subsidiary of Reliance Infrastructure, said it entered into yet another agreement with an overseas company. This time, the company said it tied up with Daher Aerospace, France, a supplier of integrated systems for aeroplanes. “Daher Aerospace is tier one manufacturer in Aerostructures segment comprising Fuselage Sections and Fairings made of composites […]
Reliance Defence, the defence manufacturing arm of the Anil Ambani group, said it will form a joint venture in India with global defence manufacturer Thales to carry out some contracts related to the Rafale jet deal. The Indian company will hold 51% of the equity while the foreign entity will hold the remaining. Reliance Defence […]
Anil Ambani Group’s telecom arm Reliance Communications said it has ‘formally’ communicated to its lenders that it will pay an amount of Rs 25,000 cr to them on or before Sept 30. The latest statement from the telecom operator comes as a way of reassuring investors and lenders that it is serious about paying back […]
Delhi Airport Metro Express Private Ltd, an associate company of Reliance Infrastructure, said it was awarded compensation of Rs 2,950 crore by a three member Arbitration Tribunal in a dispute with Delhi Metro Rail Corporation or DMRC. The tribunal was constituted from a panel nominated by DMRC. The Award to RInfra has been granted on […]
The Anil Ambani Group has relaunched Bigflix, the homegrown competitor to Netflix, with an expanded focus covering regional language content as well as an eye on audiences outside India. The service will have 2000 HD movies in nine Indian languages to start with, the group said. These languages are Hindi, Telugu, Tamil, Punjabi, Malayalam, Gujarati, […]
The shareholders of Reliance Communications approved the demerger of the wireless operations of the company into Aircel Limited and Dishnet Wireless Limited, the Anil Ambani Group company said. The Scheme was also approved at a meeting called on the directions of the National Company Law Tribunal. The shareholders of Aircel Limited also approved the scheme on April 22nd. […]
Anil Ambani Group said the Competition Commission of India has cleared the merger of its telecom unit Reliance Communications with the wireless operations of Aircel Cellular, owned by Maxis Berhad of Malaysia. The clearance was expected since the two companies have very small market shares. The deal had got approval from the Securities and Exchange […]
Reliance Communications, the telecom arm of Anil Ambani Group, has unveiled what is probably India’s cheapest 3G data plan. The company said its subscribers will get 0.5 GB of data every day for 28 days if they recharge with Rs 99. If they are in a non-3G circle, they can recharge with Rs 49 to […]
Fitch Ratings has downgraded India-based Reliance Communications Limited’s long-term rating to ‘B+’ from ‘BB-‘. “It is our view that Rcom’s plans to demerge its wireless business into a 50:50 joint-venture and sell 51% of its tower business, Reliance Infratel Ltd (Infratel), will be negative for Rcom’s creditors, even if receipts from the tower transaction are […]
Following on the heels of its announcement to sell its transmission assets to Adani Group, Reliance Infrastructure today said it has signed a share purchase agreement with Adani Transmission for the sale of 100% of its Western Region System Strengthening Scheme Transmission Assets. “SPA for Parbati Koldam Transmission Company Limited (PKTCL) shall be executed upon […]
Subash Chandra’s Zee Group is buying the general entertainment channels and FM radio business of the Anil Ambani group. Because of lock-in provisions, the acquisition of 59 FM radio licenses will be done in two stages. The FM channels are being broadcast under the brand “92.7 BIG FM”, reaching to 45 cities, 1200 towns and […]
Zee Entertainment Enterprises said it is acquiring the General Entertainment Broadcasting Business of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group. The TV Broadcasting business of Reliance Group Entities currently comprises two operational general entertainment channels — BIG Magic and BIG Ganga […]
Anil Ambani Group’s Reliance Communications has seen a sharp fall in its subscriber numbers after the migration of its CDMA network to LTE. According to the latest numbers released by the company, the total number of voice customers fell by 11.6% in the three months from June to September. Voice revenue fell 8.3% from the […]
Tata Power, one of India’s largest integrated power companies, said 42,157 power consumers in Mumbai moved to its network from those of its competitors last financial year, helping the company’s total subscriber base cross 2 mln. Tata Power supplies power to households directly in Mumbai and Delhi — two areas where privatization of electricity distribution was […]
Reliance Capital, the financial services arm of Reliance Anil ambani Group today appointed Jai Anmol Ambani, elder son of Anil Ambani to the companyś board and said he will be appointed as full time Executive Director at the companyś annual general meeting. Jai had first joined Reliance Capital in July 2014. Jai Anmol Ambani, born […]
Birla Corporation Limited said it agreed to buy the entire cement business of Reliance Infrastructure Ltd for a valuation of Rs 4800 crores including debt. The debt portion of the valuation will not go to Reliance Infrastructure. The equity value of Reliance Cement was not disclosed. The two companies have agreed that Birla Corp shall […]
