For almost a year, I have been confused about how Future retail stores are getting funding to operate given – the poor financial health of the group; and 2020 deal with Reliance retail not getting concluded due to the legal dispute with Amazon. Operating the stores meant expenses in the form of lease payments, employee … Read more
After days of Godrej Properties getting forced to withdraw from it’s proposed strategic partnership with DB Realty (DBR), the latter gets support from the ace investor, Rakesh Jhunjhunwala (RJ’s) and others. Key points to note – DBR was issuing 5 crore equity warrants to GP. The same quantum now will be instead issued to the … Read more
After Vodafone Idea (VIL), Tata Teleservices Maharashtra (TTML) now opts for this conversion. For VIL, it made sense (check the article). However for TTML to opt for this is highly confusing and mysterious. Why? The interest amount that TTML had to pay was only Rs 850 crore. For Tata group this is nothing. In lieu … Read more
Contrary to general consensus, Vodfaone Idea (VIL) informed that the board has approved conversion of interest on delayed payment of spectrum and Adjusted Gross Revenues (AGR) dues to the Government into equity. Key points to note The option was available to the Company in line with the telecom relief package announced by the Government in … Read more
Airtel has informed that it will not be going ahead with the corporate restructuring plan it had announced in April 2021. What was the restructuring plan? Airtel categorises it’s business under four verticals – India, International, Digital and Infrastructure. The 1st two consist of it’s telecom operations. As per the restructuring plan, it wanted to … Read more
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
Mr Vishwavir Ahuja, the MD & CEO of RBL bank is stepping down. Though the technical term used is ‘going on leave’, for all practical purposes it’s innings over for him at the bank. Key point to note – Mr Ahuja has been leading RBL for more than a decade and is responsible for it’s … Read more
L&T Finance Holdings LTd (LTFH) in a bid towards consolidating towards core business and unlock value from the non core businesses, has decided to sell out the mutual fund business. It’ is selling the business to HSBC India. Key points to note – L&T Mutual Fund (LTMF) is operated as a 100% subsidiary of LTFH. … Read more
The paid amount relates to the deferred liabilities for the spectrum acquired in the 2014 auction. Key points to note – The company had acquired 128.4 MHz spectrum (including Telenor spectrum) for a consideration of Rs 19,051 crores in the 2014 auction, of which Rs 5,597 crore was given upfront. Balance amount was due in … Read more