Jio prepays Rs 30,791 crore of deferred spectrum liabilities to DoT

The amount relates to the entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right to use with Bharti Airtel Limited. Key points to note: The amount includes accrued interest as well. These liabilities were due in annual instalments from … Read more

Future Retail misses debt repayment obligation of Rs 3,495 crore

The Company has missed the last date for payment of Rs 3,494.56 crore to banks and others lenders. Key points to note – The last date for payment was December 31, 2021. The due date was as per the One Time Restructuring (OTR) plan approved by the lenders in April 2021 under an RBI announced … Read more

SBI does a Rs 100 crore private equity into JSW Cement. Why?

As per the media reports, State Bank of India (SBI) is investing Rs 100 crore into JSW Cement for a minority stake. Key points to note – Investment is through Compulsory Convertible Preference Share (CCPS) and the valuation linked to the Company’s future performance would be determined at the time of proposed IPO of the … Read more

Jio seems to have decided for peace

All indications seem to be suggesting this. Jio recently decided to follow Airtel and Vodafone-Idea in raising the tariffs. Industry was not sure whether this would happen, as Jio may want to continue going aggressive in attracting customers from the competitors. Whereas Sunil Mittal (Airtel) has been calling for peace, for the first time Mukesh … Read more

Promoters feud may be nearing end at Indigo

The Company has called for an extraordinary general meeting (EGM) on 30 December, seeking approval to amend it’s Articles of Association (AoA) and remove restrictions on promoter share transfer. Key points to note – Indigo has two founders – Rahul Bhatia and Rakesh Gangwal Bhatia group owns 37.83% stake of Indigo and Gangwal group 36.61% … Read more

Amicable family settlement happens at the Inox group

Currently Inox group is run by the 3rd generation of promoters – Brothers Pavan Jain (70) and Vivek Jain (66). Brothers have reached an amicable family settlement. Pavan Jain gets the control of – Inox Leisure – listed, movie theater business Inox Air Products – unlisted, industrial and medical gases manufacturer Inox India – unlisted, … Read more