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<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

Founder <keyword id="20198157" type="General" weightage="20" keywordseo="Ritesh-Agarwal" source="keywords">Ritesh Agarwal</keyword> has invested Rs 830 crore through his Singapore-based entity Patient Capital in <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword>'s latest <keyword id="20080855" type="General" weightage="20" keywordseo="funding-round" source="keywords">funding round</keyword> -- wherein the <keyword id="21745043" type="General" weightage="20" keywordseo="travel-tech-platform" source="keywords">travel tech platform</keyword> raised Rs 1,457 crore, sources said. Post the equity dilution in the <keyword id="22756111" type="General" weightage="20" keywordseo="Series-G-funding" source="keywords">Series G funding</keyword>, Agarwal's holdings will increase from 29.97 per cent earlier, to 32.57 per cent post the investment, sources told PTI. According to sources close to the transaction, "Ritesh has invested to protect his ownership dilution in OYO as well as a signal of confidence in the company's prospects. The investment is backed by Singapore-based family offices." <keyword id="20517346" type="General" weightage="20" keywordseo="Oravel-Stays-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Oravel Stays Ltd" meta.hostid="261" meta.entityid="Oravel Stays Ltd">Oravel Stays Ltd</keyword>, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round. The additional equity issuance was approved by 99.99 per cent shareholders in an Extraordinary General Meeting (EGM) held on August 8. The additional fundraise values the company at USD 2.4 billion, as the first Series G tranche issued to InCred in July. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The capital will be used to support OYO's growth and its global expansion plans, sources said.

Founder Ritesh Agarwal invests Rs 830 crore in OYO's latest funding round; Platform raises Rs 1,457 crore

<ul class="summary-list"><li>Large sporting events like the Olympics require huge amounts of connectivity infrastructure.</li><li>The infrastructure is used after the events themselves, leaving a legacy for host-city dwellers.</li></ul>In Paris, <a target="_blank" class="" href="https://www.businessinsider.com/alev-kelter-olympic-womens-rugby-us-training-2024-7">athletes are bringing their best and breaking records</a>. But achievements at the 2024 Summer Games go beyond the physical feats broadcast around the world.Behind the scenes, <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-internet-connection-5g-mobile-technology-2024-7">5G infrastructure</a> is powering live broadcasts worldwide and the moments spectators and athletes capture and post on social media.High-speed fiber-optic networks, 5G cellular towers, and advanced WiFi systems have been deployed at 120 sites across Paris to handle the internet demands of global broadcasters, millions of visitors, and the Games' intricate operations.Events as expansive and popular as the Olympics demand robust and high-capacity networks to broadcast live events to viewers worldwide and support the digital needs of athletes, officials, and spectators.Rolf Werner, the head of mobile networks in Europe at Nokia, said that with careful planning, these types of <a target="_blank" class="" href="https://www.businessinsider.com/5g-advanced-standalone-6g-qualcomm-huawei-mwc-2024-3">5G connectivity investments</a> can last for years."By investing in 5G infrastructure, cities can create a <a target="_blank" class="" href="https://www.businessinsider.com/5g-transforms-businesses-better-security-remote-capabilities-2024-5">robust digital foundation</a> that benefits local communities long after the event has concluded," Werner told Business Insider. That includes strengthening local businesses' internet connectivity, he said.Sandeep Raithatha, the head of strategy, innovation, and 5G IoT products at Virgin Media O2, said private 5G networks that were initially deployed in Olympic venues for broadcast-service use could be repurposed for live events."Once installed, these networks can continue to be utilized for future events as well, ensuring a lasting benefit beyond the initial investment," Raithatha told BI.That's been the case for Olympic host cities like London and Tokyo, where 5G installations continue to power connectivity for residents and visitors.<h2 id="6014d88e-fe10-42a7-a8e7-2e9ad0a2a87e">London 2012: Stratford Halo</h2>Virgin Media O2 upgraded London's connectivity infrastructure when the city hosted the Games in 2012."This included installing additional masts around major airports to ensure tourists could get online immediately and deploying small cells around the venues so that fans could consistently connect in densely populated areas, whether to send selfies, stream videos, or share their location for safety reasons," Raithatha said.One key build was the Stratford Halo, which acted as the TV broadcasting tower for the Games. After the event, it became a hub for YouTubers and other content creators because of its gigabit-speed internet connectivity. It was considered revolutionary because the average internet speed in the UK at the time was slower.The planning efforts allowed the Stratford Halo to be repurposed into a residential building two years after the closing ceremony.In the lead-up to the Games, connectivity infrastructure was embedded in the London Underground light-rail network and the Westfield shopping center in Stratford. Communities continue to rely on this technology for internet access.<h2 id="0f74ba14-8f70-4b55-aea6-131d7970ae5f">Tokyo 2020: Tokyo Data Highway</h2>Japan has a reputation as a technology innovator. But its capital, Tokyo, which in 2021 hosted the delayed 2020 Summer Olympics, had a meager showing of 5G infrastructure.5G technology wasn't adopted at a consumer level until 2019, and Japan's 5G-infrastructure rollout was <a target="_blank" href="https://www.reuters.com/article/idUSKBN22R0XP/">delayed by the COVID-19 pandemic</a>. In 2020, just 10 5G towers were installed.But 5G technology became more common by 2021, two years after Tokyo launched its 5G-infrastructure project, the Tokyo Data Highway. Buoyed by the Olympics, the city added dozens of 5G towers to its connectivity system, expanding to 149 installations in 2021.The goal is to have 5G available throughout the city by 2030, though it's unclear how far along the project is.<h2 id="39507179-0379-4d14-9e10-fe6309766453">Beijing 2022: Beijing-Zhangjiakou high-speed railway</h2>The 108-mile Beijing-Zhangjiakou high-speed railway connected the host city of the 2022 Winter Olympics with the rest of China.It linked Beijing to the competition space outside the Chinese capital where events like ski jumping, snowboarding, and freestyle skiing took place. Athletes were able to take the driverless train between the two locations at speeds of up to 217 mph.But the railway's legacy goes beyond the hyperfast transportation it continues to provide; it was also the first high-speed train equipped with 5G coverage.The train route was also lined with 5G signal towers to ensure reliable, high-speed internet. In 2022, the 5G technology was fast enough that train riders could watch the opening ceremony on their personal devices. Now riders can enjoy superfast interest connections while traveling on the railway.

How Olympic host cities have recycled 5G infrastructure to improve locals' internet speeds and connectivity

As he takes the field for <keyword id="19929032" type="General" weightage="20" keywordseo="Gujarat-Titans" source="keywords" meta.keywordsubtype="org" meta.entityname="Gujarat Titans" meta.hostid="261" meta.entityid="Gujarat Titans">Gujarat Titans</keyword> (GT) during the Indian Premier League (<keyword id="19906063" type="General" weightage="20" keywordseo="IPL" source="keywords">IPL</keyword>) clash against <keyword id="19907060" type="General" weightage="20" keywordseo="Delhi-Capitals" source="keywords" meta.keywordsubtype="org" meta.entityname="Delhi Capitals" meta.hostid="261" meta.entityid="Delhi Capitals">Delhi Capitals</keyword> (DC) at the Arun Jaitley Stadium on Wednesday, skipper <keyword id="6362888" type="General" weightage="20" keywordseo="Shubman-Gill" source="Orion">Shubman Gill</keyword> will be featuring in the 100th match of his career in the cash-rich league. GT will be locking horns with DC in a mid-table clash in Delhi on Wednesday. In their last match, Delhi managed to beat Gujarat comprehensively, skittling out the 2022 champions for just 89 runs and chasing it easily. GT won its previous league match against Punjab Kings while DC registered a heavy loss to Sunrisers Hyderabad (SRH). Since his debut with Kolkata Knight Riders (KKR) following the ICC U19 World Cup win, <keyword id="19930297" type="General" weightage="20" keywordseo="gill" source="keywords">Gill</keyword> has managed to carve out an enviable IPL career within such a short span that not many have been able to. In 99 matches, Gill has scored 3,088 runs at an average of 38.12 and a strike rate of 38.12, with three centuries and 20 fifties. His best score is 129. He is already the 25th-highest run-scorer in league's history. Gill represented KKR from 2018-21 and the franchise played a crucial role in his development as a cricketer. He was given backing right from the first season, getting to play 13 matches, in which he scored 203 runs at an average of 33.83 and a strike rate of 146.04, with a knock of 57* as his solitary fifty. He went on to star in franchise's brilliant 2021 season, where it first won just three out of its first eight games but made it to the finals. He was his franchise's highest-run getter and overall eighth-highest run-getter with 478 runs in 17 matches at an average of 28.11 and a strike rate of 118.90, with three half-centuries and the best score of 57. Gill preserved his best for the knockout stages, scoring a quickfire 29 in 18 in a low-scoring eliminator against Royal Challengers Bengaluru (RCB), where KKR chased down 139 with two balls to go. Later, his useful knocks of 46 and 51 during the Qualifier two against Delhi Capitals and final against Chennai Super Kings (CSK) announced to the world that he was ready for big games. KKR parted ways with Gill in the 2022 season. In 58 matches for KKR, Gill made 1,417 runs at an average of 31.49 and a strike rate of 123.00, with 10 fifties and best score of 76. He signed with Gujarat Titans for the 2022 season and won the title with them in their debut season. Gill starred in this winning season, ending as the second-highest run-getter for GT with 483 runs in 16 games at an average of 34.50 and a strike rate of 132.33. He also scored four half-centuries, with his best score being 96. Gill's unbeaten 45* in the final helped the franchise chase down 131 runs in a low-scoring clash against Rajasthan Royals. These seasons served as a trailer for what Gill could accomplish. The batter's game was elevated multifold during the next season as he found runs and the ball found the middle of his bat like never before. Gill took home the 'Player of the Tournament' and 'Orange Cap' honours for scoring the most runs in the season, with 890 runs at an average of 59.33 and a strike rate of 157.80. His best score was 129 in just 60 balls, scored against Mumbai Indians (MI) in Qualifier two. GT finished as runners-up to CSK. In the ongoing season, Gill has scored 298 runs in eight matches at an average of 42.57 and a strike rate of 146.80. He has struck two fifties, with the best score of 89*. With GT, Gill has scored 1,671 runs in 41 innings at an average of 46.42 and a strike rate of over 147, with three tons and 10 fifties and the best score of 129. Promising rookie seasons, crucial knocks during knockout matches, IPL trophy, Orange Cap, Player of the Tournament award and captaincy. Gill has ticked a lot of franchise cricket boxes at such a young age of 24. Could he become the next captain to lead Gujarat to glory? SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a>

Shubman Gill to play 100th IPL game as Gujarat locks horns with Delhi today

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has become the world's largest mobile operator in terms of data traffic.</li><li>The total traffic on the <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase.</li><li>This surge is attributed to the growing adoption of <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> and Home services.</li></ul>Reliance Jio, the telecom giant of India, has become the world's largest mobile operator in terms of data traffic, surpassing <keyword id="20669190" type="General" weightage="20" keywordseo="China-Mobile" source="keywords" meta.keywordsubtype="org" meta.entityname="China Mobile" meta.hostid="261" meta.entityid="China Mobile">China Mobile</keyword>. The announcement came on Monday as Jio revealed its quarterly results, showcasing staggering numbers and milestones achieved in various segments. As of March 2024, Jio boasts a subscriber base of 481.8 million, out of which 108 million subscribers are on Jio's True5G Standalone network. The number reflects Jio's stronghold in the Indian telecom market. According to a press release, the total traffic on the Jio network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase. This surge is attributed to the growing adoption of 5G and Home services. Notably, 28 per cent of the traffic comes from 5G subscribers, indicating a swift transition towards next-generation connectivity. Additionally, Jio's Fixed Wireless Access (FWA) services have contributed significantly to the data traffic. Since the onset of the COVID-19 pandemic, there has been a dramatic 2.4x increase in annual data traffic, with per capita monthly data usage skyrocketing to 28.7 GB from just 13.3 GB three years ago. This surge underscores the growing reliance on digital connectivity in India. Commenting on the results, <keyword id="3820" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director of Reliance Industries Limited, expressed his satisfaction with the company's performance and its contribution to the Indian economy. He highlighted the significant achievements, including becoming the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits. Ambani said, "Initiatives across RIL's businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits." Ambani also emphasized Jio's role in driving the digital transformation in India, from upgrading 2G users to smartphones to leading the effort in producing AI-driven solutions. He noted, "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation's digital infrastructure." He reiterated Jio's commitment to strengthening the nation's digital infrastructure and its continued efforts to provide innovative solutions to consumers. The company's retail arm, Reliance Retail, also showed robust growth, with a 36 per cent increase in footfalls and strong digital commerce platforms offering a broad brand catalogue. "Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space", said Ambani. In addition to its telecom and retail segments, Reliance Industries Limited has shown resilience in its Oil to Chemicals (O2C) segment, despite challenging market conditions. The KG-D6 block has achieved significant production milestones, accounting for 30 per cent of India's domestic gas production. Ambani emphasised, "Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year." He added, "Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India's domestic gas production." In terms of financial performance, Reliance Jio has achieved several remarkable milestones. The consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) at Rs 178,677 crore, while the consolidated Profit Before Tax (PBT) has surpassed Rs 100,000 crore. The company's market capitalization has crossed Rs 20,00,000 crore, further solidifying its position as one of India's most valuable companies. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a>

Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

Just ahead of its mega <keyword id="20008249" type="General" weightage="20" keywordseo="FPO" source="keywords">FPO</keyword> opening to <keyword id="21332860" type="General" weightage="20" keywordseo="public-investors" source="keywords">public investors</keyword>, <keyword id="19899016" type="General" weightage="20" keywordseo="Vodafone-Idea" source="keywords">Vodafone Idea</keyword> (<keyword id="20062540" type="General" weightage="20" keywordseo="vil" source="keywords">VIL</keyword>) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the <keyword id="20132985" type="General" weightage="20" keywordseo="telco" source="keywords">telco</keyword>. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively. In a notification to the exchanges on Wednesday, VIL said it has allotted 490.9 crore shares to 74 funds at Rs 11 apiece, which is also the upper end of the price band. This translated into a transaction size to Rs 5,400 crore. Of the total allocation to <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword>, 79.52 crore stocks, or 16.2 per cent of the total, were allocated to five domestic mutual fund through a total of 11 schemes. Those who were allotted shares include GQG Partners Emerging Markets Equity Fund, Fidelity, UBS Fund Management, Abu Dhabi Investment Authority, Australian Super, Troo Capital, Morgan Stanley, Citigroup Global Markets Mauritius, and Jupiter Fund Management. Additionally, domestic investors, including Motilal Oswal Mutual Fund, HDFC Mutual Fund, SBI General Insurance and Quant Mutual Fund, were allocated shares in the anchor round. The Rs 18,000-crore FPO of Vodafone Idea will open for public subscription on April 18 and conclude on April 22, marking the biggest FPO in the country. The price band has been set at Rs 10-11 per share. Prior to this, the largest FPO in the Indian market was a Rs 15,000 crore share-sale by YES Bank in 2020. The fundraise would give the ailing telco the firepower to improve its positioning in the Indian telecom market, where it currently trails larger rivals such as Reliance Jio and Bharti Airtel, by a wide margin. The funds will also help VIL shore up finances for the much-delayed <keyword id="20366727" type="General" weightage="20" keywordseo="5G-rollout" source="keywords">5G rollout</keyword> and strengthening 4G services, and payment of vendor dues. On April 6, the VIL Board approved raising Rs 2,075 crore from promoter Aditya Birla Group and increasing its authorised share capital to Rs 1 lakh crore. Earlier this year, Vodafone Idea had outlined plans to raise Rs 45,000 crore through a mix of equity and debt as it looked to match services offered by rivals Reliance Jio and Bharti Airtel and arrest an alarming and prolonged subscriber churn. VIL has also been fighting a desperate battle for survival, saddled with debt of Rs 2.1 lakh crore and quarterly losses. According to Trai data, Vodafone Idea continued to bleed on the subscriber front. VIL lost 15.2 lakh wireless subscribers, plunging its mobile subscriber base to 22.15 crore in January, in sharp contrast to subscriber gains by Jio and Airtel.

Ahead of FPO, Vodafone Idea garners Rs 5,400 cr from anchor investors

<keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> on Friday announced that it is the only operator to provide its 5G services -- True-5G -- across the <keyword id="66" type="General" weightage="50" keywordseo="delhi" source="Orion">Delhi</keyword>-NCR region, including Delhi, Gurugram, Noida, Ghaziabad, Faridabad and other major locations. The telecom firm said it was rolling out the most-advanced True-5G network at a rapid pace and was covering major parts of this geography. A <keyword id="2003276" type="General" weightage="100" keywordseo="jio" source="Orion">Jio</keyword> spokesperson said, "Covering the majority of the <keyword id="6360421" type="General" weightage="50" keywordseo="national-capital" source="Orion">National Capital</keyword> and <keyword id="53426" type="General" weightage="80" keywordseo="ncr" source="Orion">NCR</keyword> region is a matter of pride for us... The reason Jio engineers are working round the clock to deliver True5G to every Indian is because of the transformational power of this technology and the exponential benefits it can deliver to every citizen." The telco said that this transformational network would be present across all important localities and areas including but not limited to most residential areas, hospitals, schools, colleges and universities, government buildings, malls, and markets. It is also said it will be available in high-footfall areas such as tourist spots and hotels, tech parks, roads, highways and metros. The telecom firm said lakhs of Jio users in the Delhi-National Capital Region (NCR) are already enjoying the Jio Welcome Offer, in which they experience unlimited data at up to 1 gigabit per second (Gbps+) speeds at no additional cost. The telecom firm also said this was possible because of stand-alone 5G architecture with zero dependencies on the 4G network, of the largest and best mix of 5G spectrum across 700 MHz, 3500 MHz, and 26 GHz bands and that it seamlessly combines this fifth-generation mobile (5G) frequencies into a single robust "data highway", using an advanced tech called Carrier Aggregation. It added more Jio users in Delhi-NCR will continue to be invited to the Jio Welcome Offer. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/one-in-every-five-online-orders-had-a-kurti-or-saree-in-their-cart-redseer/articleshow/95598263.cms">One in every five online orders had a kurti or saree in their cart: RedSeer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/2022-jeep-grand-cherokee-is-a-luxury-4x4-adventurer-at-77-5-lakh-heres-all-you-need-to-know/slidelist/95595383.cms">2022 Jeep Grand Cherokee is a luxury 4x4 adventurer at ₹77.5 lakh</a>

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Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

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Ahead of FPO, Vodafone Idea garners Rs 5,400 cr from anchor investors

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Jio 5G services now available across Delhi-NCR, says Reliance

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