Wednesday, March 18
New Delhi, Bharti Airtel has sought parity in the matter of adjusted gross revenue dues relief given to Vodafone Idea, a senior official of the company said on Friday.During the company's earnings call, Bharti Airtel Executive Vice-Chairman Gopal Vittal said that the company has written to the Department of Telecom and is waiting for their reply."We have written a few letters to the DOT, asking for clarification and basically requesting parity on the treatment of the AGR dues. We are yet to hear from the DOT."Once we hear from the DOT, we will then decide what our next steps are. So I think that's all that we have on information on the AGR. These letters have already been sent and we are awaiting their response," he said.Telecom operators total adjusted gross revenue dues up to financial y
Financial bids for the strategic disinvestment of IDBI Bank have been received and will be evaluated as per the prescribed procedure, the Department of Investment and Public Asset Management (DIPAM) under the Union Finance Ministry said on Friday, signalling progress in the government’s plan to sell its majority stake in the lender.“Financial Bids have been received for the Strategic Disinvestment of the IDBI Bank. They will be evaluated as per the prescribed procedure," the FinMin department announced on X. — SecyDIPAM (@SecyDIPAM) ET had reported last night that Toronto-headquartered Fairfax Financial and Kotak Mahindra Bank were expected to submit separate financial bids along with supporting documents for the 60.72% stake held by the government and Life Insurance Corporat
The National Stock Exchange of India (NSE) on Friday said its governing board has approved plans to undertake an initial public offering (IPO) through an offer for sale (OFS) by existing shareholders.NSE said the IPO will involve the listing of its equity shares on one or more recognised Indian stock exchanges, subject to applicable regulatory approvals, prevailing market conditions and other relevant factors.The development comes soon after NSE recently received a no-objection from market regulator Sebi to proceed with its IPO, ending a decade-long wait for approval for its public issue.As part of the listing preparations, the board also approved the reconstitution of its IPO Committee, which will carry out activities specifically delegated by the governing board for facilitating the IPO
Mahindra and Mahindra (M&M) on Friday announced a Rs 15,000 crore investment over a decade to set up its largest integrated manufacturing facility for automobiles and tractors in Nagpur, Maharashtra.The unit, aimed to expand its manufacturing footprint, will be developed across an area of 1500 acres in Vidarbha, complemented by a 150-acre supplier park in Sambhajinagar. Mahindra aims to start production in 2028.Shares of Mahindra & Mahindra (M&M) were trading at Rs 3565.05 per script, reporting a decline of Rs 6.35 (-0.18%) as on 14:03 on Friday on BSE.Mahindra will acquire land in the Igatpuri-Nashik region to expand its current product and engine capacities, as well as to support the growth of its Advanced Technology business. Under the Rs 15,000 crore plan, the company will
