Companies in the debt-laden telecom sector witnessed a double whammy after the entry of Reliance Jio Infocomm Ltd brought tariffs to rock-bottom levels and hit revenue streams of other operators.
The board approved the issue of foreign currency bonds of up to $1 billion (Rs 6,482 crore) and sought fresh shareholder approval for issuance of non-convertible debentures of up to Rs 10,000 crore on a private-placement basis, the company said in a release to the BSE. During the day, it soared 5.68 per cent to Rs 424.80.
The company will now approach shareholders for final approval of the proposed funds. "Nothing changes. Also, interest rates are rising overall; so, maybe they want to raise funds right now before cost of borrowing goes up further", this analyst said on the condition of anonymity. "The latest net asset value of each Subscription Share, based on BTL's Indian GAAP standalone management accounts as of 31 December 2017 was approximately INR23.8 and accordingly, the aggregate net asset value of the Subscription Shares is approximately $40.7m (INR2b)". Shares of Bharti Airtel were trading 4.12% up at Rs418.50 on BSE.
Back in December previous year, the Bharti group had announced plans to sell a fifth of its DTH arm to an affiliate of global private equity firm Warburg Pincus, for around Rs 2,258 crore ($350 million), with most of the funds being consumed by Bharti Airtel to fight mounting competition from Reliance Jio.
Last month, Bharti Airtel had said it would transfer its 25 % stake in Bharti Telemedia to wholly owned arm Nettle Infrastructure Investments.
The promoters of Idea Cellular Ltd - Birla TMT, Elaine Investments, Oriana Investments - have already invested Rs 3,250 crore to strengthen its balance sheet amid intense competition and before a planned merger with Vodafone India Ltd.
The Button Cell report gives the clear understanding of Button Cell market with 6 years of the forecast from 2018 to 2023. It includes Button Cell market values with regard to growth rate , consumption, and Button Cell market share.
Forecasters say a build up of pressure over Scandinavia will bring a chilly blast of easterly winds to the region this weekend. This week, low pressure will be in control of the weather bringing in heavy rain, marking a miserable week of wet weather.
Sacred Heart Hospital in Pensacola confirmed on its website that it had received 18 patients from the bus wreck on Tuesday. An official with the bus charter company, First Class Tours of Houston , said the company was working on a statement.
Question Hour and Zero Hour were washed out after members from the TDP, Congress , AIADMK, TRS, etc. trooped into the Well. While the upper house has been adjourned till 2 PM, the proceedings in lower house has been adjourned for the day.
Citigroup maintained Silgan Holdings Inc. (NYSE:EDR) has "Outperform" rating given on Tuesday, February 23 by RBC Capital Markets. Glenhill Advisors Llc decreased Tenet Healthcare Corp (NYSE:THC) stake by 459,018 shares to 711,382 valued at $11.69M in 2017Q3.
Wilson provides Adam Gase's offense with a slot receiver who can take Landry's spot for a fraction of the cost. Landry, by comparison, had 112 catches past year alone, even though he averaged only 8.8 yards per catch.
Army Reserve Element, a public affairs office for the NASA Ames Research Center, and a public affairs specialist for the U.S. According to the Washington Post , Schwab was previously a public affairs specialist for the U.S.
Holmes and Beauty and the Beast . (Condon most recently helmed Disney's live-action Beauty and the Beast ). Jeffrey Hatcher has written the screenplay for " The Good Liar ", based on the novel by Nicholas Searle.
Company executives have said those stores would begin liquidating inventory in February and be closed by mid-April. Payless ShoeSource, JC Penny, Macy's, and Radio Shack all had to close down several locations a year ago .
Summit to hold egg hunt on March 24
Dogs must be leashed during the event, but owners afterward may let their dogs run off leash in the 3-acre, fenced-in Bark Park. The bunny will be spreading 10,000 eggs filled with candy and toys across The Green to be hunted.
GTA V Premium Edition due out next month claim sources
First there was a listing on Amazon Germany , then this past weekend the game got rated by the South Korean Rating's Board . The GTA 5 Premium Edition features the base game as well as all the DLCs that have been released in the past four years.
Judge Rules Grandson Gets Charles Manson's Body
Mr Brunner was backed by another purported son, Matthew Lentz, who claims he was fathered by Manson during a Wisconsin orgy. Freeman said Manson's body will be cremated and a private service will be held, but he did give specifics.
Princess Eugenie Makes Instagram Debut
The 27-year-old daughter of Prince Andrew , Duke of York, and Sarah, Duchess of York now has three photos in her account. She has uploaded images of her with her fiance Jack Brooksbank, showing the pair of them gazing at her engagement ring.
2019 election timetable: Senate blows hot, warns INEC
According to them, it is a step forward in sanitizing the political environment for safe conduct of elections in Nigeria. The House said it would remain firm on the bill, especially the provision on the re-ordering of the 2019 elections.