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<keyword id="8187544" type="COMPANY" weightage="20" keywordseo="tata-digital">Tata Digital</keyword> Limited, a subsidiary of Tata Sons Private Ltd will acquire majority stake in digital health company <keyword id="2962726" type="PERSON" weightage="20" keywordseo="1mg">1MG</keyword> Technologies Private Ltd (1MG). Incorporated in 2015, 1MG is a leading player in the <keyword id="1324270" type="COMPANY" weightage="20" keywordseo="eHealth">eHealth</keyword> space and enables easy and affordable access to a wide range of products like medicines, health &amp; wellness products, diagnostics services and tele-consultation to customers. The company operates three state-of-the-art diagnostics labs, has a supply chain covering over 20,000 pin codes across the country and through its subsidiaries is also engaged in the business of B2B distribution of medicines and other healthcare products. The investment in 1MG is in line with <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword>'s vision of creating a digital ecosystem which addresses the consumer needs across categories in a unified manner. E-pharmacy, e-diagnostics and tele-consultation are critical segments in this ecosystem and have been among the fastest growing segments in this space, as this sector enabled access to healthcare through the pandemic, said a joint statement by Tata Digital and 1MG. Pratik Pal, CEO of Tata Digital, said: "The investment in 1MG strengthens Tata's ability to provide superior customer experience and high quality healthcare products &amp; services in e-pharmacy and e-diagnostics space through a technology led platform." Prashant Tandon, <keyword id="1718234" type="COMPANY" weightage="20" keywordseo="Co-Founder-CEO">Co-Founder &amp; CEO</keyword>, 1MG, said: "We are delighted to join hands with one of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s most iconic &amp; respected conglomerates. This marks a significant milestone in 1MG's journey to make high quality healthcare products &amp; services accessible to customers across India." SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/here-are-the-coolest-ios-15-features-coming-to-iphones/slidelist/83362145.cms" style="">Here are the coolest iOS 15 features coming to iPhones</a> <a href="https://www.businessinsider.in/cryptocurrency/news/paraguay-could-become-the-second-country-to-adopt-bitcoin/articleshow/83363776.cms" style="">After El Salvador, Paraguay considers Bitcoin adoption</a> <a href="https://www.businessinsider.in/careers/news/google-microsoft-apple-and-many-others-are-hiring-for-various-it-roles-in-india/articleshow/83365305.cms">Google, Microsoft, Apple and many others are hiring for various IT roles in India —data scientists and cloud architects in high demand</a>

Tata Digital to buy majority stake in online pharma startup 1MG

The Cabinet Committee on Economic Affairs on Wednesday approved the FDI proposal for acquisition of 12.32 per cent of equity share capital, on a fully diluted basis, of <keyword id="7564494" type="COMPANY" weightage="20" keywordseo="ATC-Telecom-Infrastructure-Pvt-Ltd">ATC Telecom Infrastructure Pvt Ltd</keyword> by ATC Asia Pacific PTE Ltd. The acquisition is being done as a result of exercise of option by <keyword id="563005" type="COMPANY" weightage="20" keywordseo="Tata-Tele-Services-Ltd">Tata Tele Services Ltd</keyword> (TTSL) and <keyword id="5004980" type="COMPANY" weightage="20" keywordseo="tata-sons-pvt-ltd">Tata Sons Pvt Ltd</keyword> (TSPL). This share purchase would lead to <keyword id="10331238" type="UNKNOWN" weightage="20" keywordseo="foreign-direct-investment-inflow">foreign direct investment inflow</keyword> of ₹2,480.92 crore, a government statement said. With this approval, the cumulative FDI of ATC Asia Pacific PTE Ltd (<keyword id="10331237" type="COMPANY" weightage="20" keywordseo="atc-singapore">ATC Singapore</keyword>) into ATC Telecom Infrastructure Pvt Ltd (<keyword id="2206370" type="COMPANY" weightage="20" keywordseo="ATC-India">ATC India</keyword>) will be ₹5,417.2 crore in financial years 2018-19 to 2020-21. ATC Telecom Infrastructure Pvt Ltd is engaged in the business of providing <keyword id="10331236" type="UNKNOWN" weightage="20" keywordseo="passive-telecom-infrastructure-services">passive telecom infrastructure services</keyword> to telecom operators, pursuant to various approvals granted to it by <keyword id="116246" type="COMPANY" weightage="20" keywordseo="Department-of-Telecommunications">Department of Telecommunications</keyword>. The company has existing FDI approval up to 86.36 per cent and with this approval, it will rise to 98.68 per cent, on a fully diluted basis. The inflow of foreign investment to India will spur economic growth; as well as foster innovation, the government release said. FDI up to 100 per cent is allowed in telecom services sector wherein 49 per cent is under automatic route and beyond 49 per cent through government route, subject to observance of licensing and security conditions by the licensee as well as investors as notified by the Department of Telecommunications (DoT) from time to time.

Cabinet approves ₹2,480 crore FDI in ATC Telecom

India's biggest auction of telecom spectrum kicks off today with seven operators in fray for a total of 2,354.55 MHz across seven bands, towards which a reserve price of Rs 5.66 lakh crore ($85 billion) has been fixed by the <a href="http://www.businessinsider.in/searchresult.cms?query=telecom&amp;sortorder=score">government</a>. 
 
The companies that have qualified for the auction are Bharti Airtel, Vodafone India, Reliance Jio Infocomm, <a href="http://www.businessinsider.in/searchresult.cms?query=telecom&amp;sortorder=score">Reliance Communications</a>, Idea Cellular, Aircel and Tata Tele, who have furnished total earnest money of Rs.14,653 crore. 
 
Given that earnest money deposit is roughly 10% of what a telecom operator can bid for, experts said the expectations of Rs 5.66 lakh crore ($8.5 billion) was already far-fetched. 
 
Top investment banker Goldman Sachs has predicted that total proceeds from the auction will be around $7 billion -- less than half of $16 billion that was fetched in the last year’s auction and sharply below $85 billion if all spectrum was sold at the reserve price. 
 
Ahead of the auctions,<a href="http://www.businessinsider.in/searchresult.cms?query=telecom&amp;sortorder=score"> Telecom</a> Secretary J.S. Deepak has said the process would be transparent and the award of airwaves quick. "One new bidding-friendly measure we have adopted this year is that spectrum won will be assigned within 30 days from the date of upfront payment." 
 
Interest on deferred payment will be 9.3 % this year against 10 per cent in 2015. 
 
For the auctions -- which will be an Internet-based, online process -- the government has hired the services of 'mjunction services'. The government said the mock auctions conducted earlier this week went off well. 
 
The auction timings are from 9 a.m. to 7.30 p.m., Monday to Saturday. 
 
The 2,300-plus MHz of airwaves on the block for telecom operators are in seven bands -- 700 MHz, 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz and 2,500 MHz. In the previous auction 470.75 MHz was on offer, which was set to fetch the exchequer $17 billion during its tenure. 
 
The government has decided to allot the right to the spectrum won through auction for 20 years. 
 
The operators will have the choice of both upfront and instalments payment options. The service providers who win airwaves below 1 GHz bandwidth will have to pay 25 per cent upfront, and for those winning above that, the upfront payment will be 50 per cent. 
 
For the successful <a href="http://www.businessinsider.in/searchresult.cms?query=telecom&amp;sortorder=score">bidder</a>, the lock-in period of equity in the company has been reduced to one year instead of the earlier stipulation of a minimum period of three years or completion of roll out obligation, whichever is later. 
 
In a meeting of the cabinet in June, chaired by Prime Minister Narendra Modi, an official nod was given for the reserve price and the auction norms. The spectrum usage charge was subsequently fixed at 3 per cent of the adjusted gross revenues of an operator. 
 
Coming to the finer points of the auction, and going by the earnest money deposited, four players appear to be serious -- Reliance Industries (Rs 6,500 crore), Vodafone (Rs 2,740 crore), Idea (Rs 2,000 crore) and Airtel (Rs 1,980 crore). 
 
"We expect the auction to be very important for Vodafone and Idea as they have their 3G plus 4G footprint in just nine and seven circles, respectively," Goldman Sachs analytic told a news agency. 
 
"Bharti and Jio have much wider network coverage for wireless broadband versus Vodafone and Idea and we believe operators will use the upcoming auction to plug 3G/4G gaps. We also expect Bharti and Jio to buy additional 3G and 4G spectrum to augment data capacity on their networks."

You Searched For "Tata Tele Services Ltd" and got 3 results

Tata Digital to buy majority stake in online pharma startup 1MG

IANS

Cabinet approves ₹2,480 crore FDI in ATC Telecom

IANS

The biggest airwave auction that will offer very high data speed starts today

BI India Bureau

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