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Shares of Anil Ambani-led group firms -- <keyword id="20367971" type="General" weightage="20" keywordseo="reliance-home-finance" source="keywords">Reliance Home Finance</keyword> Ltd, <keyword id="6360089" type="General" weightage="20" keywordseo="Reliance-Power" source="Orion">Reliance Power</keyword> and <keyword id="46907" type="General" weightage="20" keywordseo="Reliance-Communications" source="Orion">Reliance Communications</keyword> -- hit their <keyword id="10112182" type="General" weightage="20" keywordseo="lower-circuit-limits" source="Orion">lower circuit limits</keyword> on Monday as investors continued to desert the counters after markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> barred the industrialist and 24 others from the securities market for five years on charges of diversion of funds from <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> Home Finance Ltd. The stock of Reliance Power dropped 4.99 per cent to hit the lower circuit limit of Rs 32.73 on the BSE. Shares of Reliance Home Finance Ltd tumbled 4.93 per cent to Rs 4.24 -- the lowest trading permissible limit for the day. Reliance Communications dived 4.92 per cent to touch the lower circuit of Rs 2.32. Reliance Infrastructure also declined 2.90 per cent to Rs 205.55. Shares of Reliance Infrastructure, Reliance Home Finance and Reliance Power had slumped on Friday also. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from serving as a director or Key Managerial Personnel (KMP) in any listed company or Sebi-registered entity for five years. Besides, a fine ranging Rs 21 crore to Rs 25 crore has been levied on 24 entities. Also, the regulator barred Reliance Home Finance from the securities market for six months and slapped a fine of Rs 6 lakh on it. After receiving multiple complaints alleging the diversion/siphoning of funds of Reliance Home Finance Ltd, Sebi conducted an investigation for the period of FY 2018-19 to ascertain any regulatory violations. In its probe, Sebi found that <keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>, with the help of RHFL's KMPs -- Amit Bapna, Ravindra Sudhalkar and Pinkesh R Shah -- have orchestrated a fraudulent scheme to "siphon off" funds from RHFL by disguising them as loans to entities linked to him. Although the board of directors of RHFL had issued strong directives to stop such lending practices and review corporate loans regularly, the company's management ignored these orders. Sebi, in its 222-page order on Thursday, noted the cavalier approach by the company's management and promoter in approving loans worth hundreds of crores to companies that had little to no assets, cash flow, net worth, or revenue. This suggests a sinister objective behind the 'loans'. The situation becomes even more suspicious when considering that many of these borrowers were closely linked to the promoters of RHFL. Eventually, most of these borrowers failed to repay their loans, causing RHFL to default on its own debt obligations. This led to the company's resolution under the RBI Framework, leaving its public shareholders in a difficult position.

Reliance Home Finance, Reliance Power shares hit lower circuit limits

New Delhi: <keyword id="24017188" type="General" weightage="20" keywordseo="Dubai-based-siblings" source="keywords">Dubai-based siblings</keyword> Jainam and Jivika, the owners of <keyword id="23661436" type="General" weightage="20" keywordseo="Jiohotstar" source="keywords">jiohotstar</keyword>.com domain, have decided to transfer it to Reliance "free of cost", resting speculations on social media platforms. The story of the <keyword id="24017189" type="General" weightage="20" keywordseo="internet-domain-name" source="keywords">internet domain name</keyword>, which grabbed a lot of attention on social media platforms in the recent past, ended with "seva and kindness", according to the duo. The unique website ID was said to have been initially registered by a Delhi-based app developer last year amid speculation about the potential merger of <keyword id="19896911" type="General" weightage="100" keywordseo="Reliance-Jio" source="keywords">Reliance Jio</keyword> and <keyword id="20445926" type="General" weightage="20" keywordseo="Disney-Hotstar" source="keywords">Disney Hotstar</keyword>. Last month, the developer came up with the demand for funding his higher studies at the Cambridge University in return of the domain's ownership transfer, days after Reliance Jio and The Walth Disney formally announced the merger of their media businesses. Later, the Dubai-based siblings purchased jiohotstar.com domain from its registered owner. According to industry observers, the domain was sold to Dubai-based siblings after Reliance declined his offer. The siblings now shared an update, saying the Reliance IP Legal team approached them and the duo has decided to pass the ownership to them (Reliance), hoping that it would be "useful for them". "Reliance IP legal team has approached us, and we will be transferring this domain to them, free of cost," they said in a message on the website. "There have been some rumours online suggesting that there is a payment or deal involved, but we want to make it clear -- this is not true," the message said. Moreover, the duo in his video also clarified there is "no pressure from anyone" and denied of having a "deal of any kind". "This is purely a transfer of the domain from our side because we believe it could be useful for them. Whether or not they choose to use it is up to them," the message added. PTI reached out to Reliance for its comment on the development but did not receive any response. In their previous message, the siblings said they had received numerous offers, including some genuine ones offering significant amounts. However, they had said that the domain was not for sale. While announcing the "journey with jiohotstar.com is coming to an end", the duo said they are waiting for a draft from the Reliance legal team for the transfer. "The Reliance IP legal team has contacted us. We have told them that the <keyword id="24017190" type="General" weightage="20" keywordseo="domain-transfer" source="keywords">domain transfer</keyword> will only happen after the agreement is signed. They have asked us to visit Mumbai to sign the agreement," they said, expecting the agreement to be signed soon. "As soon as this happens, we will transfer the domain and this website will come to an end," the message said. Reliance had last week announced completion of the merger of its media assets with the India business of global media giant The Walt Disney, forming a <keyword id="19967298" type="General" weightage="20" keywordseo="joint-venture" source="keywords">joint venture</keyword> worth around Rs 70,352 crore (USD 8.5 billion). The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson.

Dubai-based siblings to transfer jiohotstar.com domain to Reliance 'free of cost'

<ul class="summary-list"><li><keyword id="23150740" type="General" weightage="20" keywordseo="Daniel-Daggers" source="keywords">Daniel Daggers</keyword>, star of the Netflix show "<keyword id="23150739" type="General" weightage="100" keywordseo="buying-london" source="Orion">Buying London</keyword>," sells some of the UK's most expensive homes.</li><li>He spoke to BI about what selling multimillion-dollar properties to the supersuccessful is like.</li></ul>This as-told-to essay is based on a transcribed conversation with Daniel Daggers, a luxury real-estate agent and star of the Netflix show <a href="https://www.businessinsider.com/netflix-buying-london-luxury-real-estate-market-super-prime-property-2024-5" target="_blank">"Buying London."</a> It has been edited for length and clarity. I came from humble beginnings. When I was a kid, I would never have believed it if someone had told me, "You're going to be representing the most successful people on the planet and bouncing around the world, seeing incredible homes." When I was 17, a short internship with a local real-estate agent led to a full time job. I spent 10 years carrying the keys, driving around, and learning the industry. Then, I moved into a big firm where I started dealing with the <keyword id="23150738" type="General" weightage="20" keywordseo="super-prime-market" source="keywords">super-prime market</keyword> — properties valued in excess of $12.8 million. Now, I run my own agency. <h2>There's nuance in what makes a property super-prime</h2>People misinterpret shiny as luxury. It's not about that. Maybe it's an incredible location, the specification of finishes is out of this world, or the live style, meaning how you live in a property, is groundbreaking. There's all this nuance and when you get a number of those assets right, that's what makes a super-prime property. To be an agent at this level, you need to use different language with your client — be more articulate, provide more detailed information, and have a different attitude to work. A knowledge of <a target="_blank" class="" href="https://www.businessinsider.com/rich-real-estate-estate-gift-tax-avoidance-wealth-planning-inheritance-2024-4">taxation</a>, structure, interior design, art, and the legal system becomes more important because you're in more of an advisory role. <h2>This job gives me a wider understanding of what's shaping our world</h2>These people are often very time-poor. There is no finishing work at 6 p.m. You have to be available by phone for help or advice at any moment in the day. But working at the top end of the market is very enjoyable. I am blessed with access to some of the best minds on the planet. We talk about anything, not just real estate. It could be children, society, art, the legal system, friends, technology, how the industry's changing — the much more macro, big-picture things. It gives you a wider understanding of what's shaping our world and how business takes place. <div type="image" title="Daniel Daggers stands against a white background in a white shirt and suit trousers smiling with his hands in his pockets." height="1280" width="855" msid="112782190" hostid="261"></div><h2>Buyers are getting younger</h2>I noticed about a decade ago that buyers were becoming much younger. Internet 2.0 enabled anyone to build businesses online, which meant the entry barrier to being <a target="_blank" class="" href="https://www.businessinsider.com/meet-the-15-youngest-billionaires-in-america-forbes-2021-10#1-sam-bankman-fried-crypto-entrepreneur-15">a successful entrepreneur</a> dropped drastically when it came to age and increased when it came to talent. I tend to attract a lot of entrepreneurs. They come into the market after five or 10 years of hard work. You can almost watch the pattern play out with how they want to live compared to people who've grown up with wealth. They are contemporary and mobile, have a different perspective on life, and an appetite for a different kind of real estate. The traditionalists will stay in the "<a target="_blank" class="" href="https://www.businessinsider.com/london-eaton-square-where-russian-billionaires-live-red-square-2022-3">golden postcodes</a>." Contemporary money is indifferent; they don't necessarily want that period house in Belgravia or Mayfair. They're happy to have more properties but smaller ones worldwide. There's also a massive thunderstorm of change in our industry regarding how people are made aware of real estate. We've sold properties over social media for over a decade, and now all the top agents around the world know one another and can refer business across this network. I sold a $51 million property through my close friend's network on Instagram. I was one of the first people ever to sell a property over <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-says-twitter-could-be-western-wechat-china-superapp-2022-6">WeChat</a>, a Chinese app I used to communicate with the buyers, a 25-year-old billionaire who didn't speak very good English. <h2>I call myself 'Mr. Super Prime.' Building a brand in this industry is essential.</h2>It's essential to build your <keyword id="20587722" type="General" weightage="20" keywordseo="personal-brand" source="keywords">personal brand</keyword> if you want to be successful in this industry. When I worked in the firm, I started traveling to the US and saw how entrepreneurial they are. Every day is their best opportunity. I realized that being that person, sharing information and access was valuable. So, I started curating content, documenting my days, and building my brand online. I called myself "Mr. Super Prime," and the nickname stuck. My colleagues thought it was an ego play. I got a lot of pushback even though I was telling them all to do the same. But I was generating £400 million worth of leads a month. Now, I've scaled things up a level with <a href="https://www.businessinsider.com/netflix-buying-london-luxury-real-estate-market-super-prime-property-2024-5" target="_blank">my Netflix show,</a> "Buying London." This city is a hidden gem, and my agency, DDRE Global, has access to some of the most desirable homes here. People are interested in very expensive and special properties. We are all voyeurs occasionally, and there's an element of aspiration to the show. <div type="image" title="Daniel Daggers and the cast of Selling London at the premiere of the show, standing by a board with the DDRE Global branding." height="3500" width="5250" msid="112782192" hostid="261"><payload><![CDATA[Daniel Daggers and the cast of "Buying London" at its premiere]]></payload></div>Most real-estate agents are outgoing people, and if you put cameras inside anyone's house for a year and squeeze it into three hours, there will always be some drama — the show also has a fair amount of it among my employees. But competition is a healthy ingredient for people who want to be successful. Without it, you can become lazy and weak. You just need to remember that anyone you do business with today may be needed in the future. Correction: August 30, 2024 — An earlier version of this story incorrectly named the Netflix show. It is titled "Buying London," not "Selling London."

I sell multi-million dollar homes to London's super-successful. The internet has meant buyers have become much younger.

<ul><li><keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> has denied reports that it is in talks to acquire a stake in <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>.</li><li>One97 Communications, the parent company of Paytm has also denied reports of a stake sale.</li><li>Recent media reports claimed that Adani Group is looking to enter the UPI and e-commerce segments.</li></ul> Gautam Adani-led conglomerate Adani Group has denied reports that it is in talks with Vijay Shekhar Sharma-led One97 Communications, the parent company of Paytm, for acquiring a stake in the fintech company. Amid reports that the Adani Group is looking to enter the <a href="https://www.businessinsider.in/business/news/adani-group-plans-to-foray-into-e-commerce-and-upi-segments-to-compete-with-mukesh-ambani/articleshow/110495484.cms">UPI and e-commerce</a> segments, a <a href="https://timesofindia.indiatimes.com/business/india-business/adani-in-talks-with-vijay-shekhar-sharma-to-acquire-stake-in-paytm/articleshow/110509772.cms">report</a> by the Times of India claimed that the company is in talks with One97 Communications for a stake acquisition, citing sources familiar with the matter. The report claimed that Paytm founder and CEO <keyword id="20004114" type="General" weightage="20" keywordseo="Vijay-Shekhar-Sharma" source="keywords">Vijay Shekhar Sharma</keyword> had met <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> at its Ahmedabad headquarters on Tuesday, May 28, regarding the deal. The report led to immense speculations across the business and political circles as expectations around Adani Group taking on the likes of JioFinance and Google Pay grew ripe. The share price of One97 Communications climbed 5%, hitting the upper circuit. The company’s share price reached INR 359.55. The opposition party Congress’s leader Jairam Ramesh launched a scathing attack on the Prime Minister, posting on X "Remember when Paytm was referred to as Pay to Modi? Prophetic words! Atmanirbhar to Parmatmanirbhar to Adaninirbhar!" <cmsannotation type="cmsannotation" annotationid="Adani Group issues a denial" comment="subhead" text="Adani Group issues a denial">Adani Group issues a denial</cmsannotation> The Adani Group has now come out and denied the media report. “We categorically deny this baseless speculation. It is totally false and untrue,” the Adani Group said in a statement. <cmsannotation type="cmsannotation" annotationid="One97 Communications also denies talks" comment="subhead" text="One97 Communications also denies talks">One97 Communications also denies talks</cmsannotation> In an official statement, One97 Communications denied reports of its talks with Adani Group. "We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard. We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," One97 Communications said in an official filing. <cmsannotation type="cmsannotation" annotationid="Adani Group looking to enter the UPI and e-commerce segments" comment="subhead" text="Adani Group looking to enter the UPI and e-commerce segments">Adani Group looking to enter the UPI and e-commerce segments</cmsannotation> Earlier, media reports claimed that the Adani Group is looking to enter the UPI and e-commerce segments in India. According to the reports, the Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. The group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). A deal with Paytm, which has several years of experience in both e-commerce and payments, could have helped the Adani Group establish itself in these segments and take on existing players such as Reliance Industries, Google, PhonePe and more. Paytm has been facing several regulatory challenges in recent years, with the Reserve Bank of India (RBI) ordering Paytm Payments Bank Ltd to stop the bulk of its activities earlier this year. The action led to a whopping 50% drop in One97 Communications share price within two weeks in February. SEE ALSO: <h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/business/news/adani-group-plans-to-foray-into-e-commerce-and-upi-segments-to-compete-with-mukesh-ambani/articleshow/110495484.cms">Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google</a></h3><h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a></h3><h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/tech/mobile/news/poco-f6-with-snapdraon-8s-gen-3-chipset-launched-starting-at-29999/articleshow/110367623.cms">Poco F6 with Snapdraon 8s Gen 3 chipset launched starting at ₹29,999</a></h3>

Adani-Paytm Deal: Both One97 Communications and Adani Group deny reports as ‘baseless’ and ‘speculative’

Sales of telecom equipment have surpassed the Rs 50,000 crore milestone under the Production Linked Incentive (PLI) scheme. According to a press release by the Ministry of Communication, this accomplishment reflects the success of governmental efforts to bolster <keyword id="20053977" type="General" weightage="20" keywordseo="domestic-manufacturing" source="keywords">domestic manufacturing</keyword> and reduce import dependence, aligned with Prime Minister Narendra Modi's vision of 'Atmanirbhar Bharat'. Within three years of its inception, the Telecom <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> has attracted an investment of Rs 3,400 crore, surpassing the Rs 50,000 crore milestone in telecom equipment production, with exports reaching approximately Rs 10,500 crore. This achievement has resulted in the creation of more than 17,800 direct jobs and numerous indirect employment opportunities, underscoring the robust growth and competitiveness of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s telecom manufacturing sector. Government initiatives aimed at promoting local production and reducing import dependency have played a pivotal role in this success, aiming to bolster domestic manufacturing capabilities and position India as a global hub for telecom equipment production, read the press release. The Production Linked Incentive Scheme for Large Scale Electronic Manufacturing of Electronics, encompassing mobile phone and component manufacturing, has significantly boosted both production and export figures. From producing 5.8 crore mobile phones and importing 21 crore units in 2014-15, India manufactured 33 crore phones domestically in 2023-24, with only 0.3 crore units imported and nearly 5 crore units exported. The value of mobile phone exports surged from Rs 1,556 crore in 2014-15 to Rs 1,28,982 crore in 2023-24, highlighting substantial growth and reduced import reliance. India, historically a net importer of telecom gear, has seen a transformative shift due to initiatives like <keyword id="20262813" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make-in-India</keyword> and the PLI scheme, resulting in domestic equipment production valued at over Rs 50,000 crore, read the press release. The <keyword id="22354280" type="General" weightage="20" keywordseo="telecom-equipment-manufacturing" source="keywords">telecom equipment manufacturing</keyword> sector has shown exceptional growth under the PLI scheme, with total sales exceeding Rs 50,000 crore, marking a 370 per cent increase compared to the base year of FY 2019-20. Generating over 17,800 direct jobs and additional roles across the manufacturing value chain, fostering economic growth and development. Encouraging local production, the scheme has reduced India's reliance on imported telecom equipment by 60 per cent, enhancing national security and self-reliance in critical technologies. Indian manufacturers are now competing globally, offering high-quality products at competitive prices, particularly in advanced telecom technologies like 5G. Under the stewardship of the Department of Telecommunications (DoT) and Ministry of Electronics and Information Technology (MeitY), initiatives like the PLI Scheme for Telecom and Networking Products have significantly narrowed the gap between telecom imports and exports, read the press release. In FY 2023-24, exports of telecom equipment and mobiles combined totaled over Rs 1.49 lakh crore, slightly below imports valued at Rs 1.53 lakh crore, reflecting India's growing export prowess in the sector. Minister of Communications and Electronics, Ashwini Vaishnaw, posted on X, "The reality of mobile phone, electronics and telecom product manufacturing is known to all except those who don't like our country's progress. In 2014-15, India produced only 5.8 Crore mobile phones and imported about 21 Crore mobile phones. In 2023-24, Bharat produced 33 Crore phones and exported close to 5 Crore mobile phones. Telecom equipment manufacturing was a dream for India. PLI enabled telecom manufacturing. In 2023-24, telecom equipment production topped benchmark of Rs. 45,000 Crore. Exports crossed Rs. 10,500 Crore. Guess who else, apart from Congress, doesn't like our country emerging as a manufacturer of mobile phones and telecom equipment?" Over the past five years, the trade deficit in telecom products has decreased from Rs 68,000 crore to Rs 4,000 crore, demonstrating the PLI schemes' success in enhancing India's global competitiveness and attracting investments in cutting-edge technologies. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank">Xiaomi SU7 with up to 800 km range showcased in India but you can’t buy it</a><a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank">Redmi 13 5G with 120Hz display launched in India starting at ₹13,999</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-how-to-watch-expected-launches-and-everything-you-need-to-know/articleshow/111626712.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-how-to-watch-expected-launches-and-everything-you-need-to-know/articleshow/111626712.cms" target="_blank">Samsung Galaxy Unpacked – How to watch, expected launches and everything you need to know</a>

India's telecom equipment manufacturing sales cross ₹50,000 crore under PLI scheme

<keyword id="2003276" type="General" weightage="80" keywordseo="jio" source="Orion">Jio</keyword> Platforms, the digital arm of Reliance Industries Ltd, will buy communications equipment maker <keyword id="6059988" type="General" weightage="100" keywordseo="mimosa" source="Orion">Mimosa</keyword> Networks for USD 60 million as it looks to bolster its 5G telecom and broadband services. Radisys Corporation, a subsidiary of Jio Platforms, signed a definitive agreement with US-based <keyword id="2512697" type="General" weightage="80" keywordseo="airspan" source="Orion">Airspan</keyword> Networks Holdings for acquisition of "Mimosa Networks for USD 60 million on a debt free, cash free basis," the companies said in a statement. While Jio Platforms is the owner of India's biggest telecom firm, <keyword id="1543410" type="General" weightage="50" keywordseo="reliance-jio-infocomm" source="Orion">Reliance Jio Infocomm</keyword>, Mimosa has a portfolio of point-to-multi-point products based on WiFi-5 and the newer WiFI 6E technologies as well as related accessories. "These solutions have use cases in the backhaul requirements for 5G and FTTX/ FWA rollouts," the statement said. "Jio has been a major customer of Mimosa." The deal comes at a time when countries across the world are looking to move away from Chinese technology. Airspan acquired Mimosa in 2018 to target cost-effective fixed wireless access network connections. Mimosa's product development, manufacturing, and sales teams of 56 employees will continue with Mimosa following the acquisition by Radisys. Speaking about the transaction, <keyword id="2080408" type="General" weightage="50" keywordseo="mathew-oommen" source="Orion">Mathew Oommen</keyword>, President of Jio, said, "Over the years, our collaboration with Airspan has resulted in groundbreaking architectures for high-speed connectivity for both the end user and for backhaul applications." "Acquisition of Mimosa will further accelerate Jio's innovation and leadership in the production of telecom network products that deliver value to consumers and enterprises across the globe with cost-effective, rapidly deployable fixed and mobile broadband," he said. Eric Stonestrom, Chairman and CEO of Airspan, said the transaction "not only puts a very capable product team with one of the world's most innovative and transformative technology and telecommunications companies, but it also strengthens Airspan's balance sheet enabling the company to pursue 4G and 5G private and MNO networks which have been our main focus." Reliance Jio Infocomm USA Inc, a wholly owned step-down subsidiary of Jio, is a shareholder of Airspan and maintains a seat on its Board of Directors. PJT Partners acted as financial advisor to Airspan. Cravath, Swaine &amp; Moore LLP and Dorsey &amp; Whitney LLP acted as legal advisors to Airspan. Covington &amp; Burling LLP acted as legal advisors, and Ernst &amp; Young acted as accounting and tax diligence advisor to Radisys. The transaction is subject to certain regulatory and other customary closing conditions, including the Committee on Foreign Investment in the United States (CFIUS) review and approval by Airspan's senior lender, and is expected to complete in the third quarter of 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/athletes-dont-belong-in-court-corridors-shouldnt-be-subjected-to-mental-agony-delhi-hc/articleshow/98520433.cms">Athletes don't belong in court corridors, shouldn't be subjected to mental agony: Delhi HC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/reliance-brings-back-the-iconic-campa-beverage-brand/articleshow/98520789.cms">Reliance brings back the iconic Campa beverage brand</a>

Jio Platforms buys US-based communications equipment maker Mimosa Networks for $60 million

New Delhi, Walt <keyword id="19899232" type="General" weightage="20" keywordseo="disney" source="keywords">Disney</keyword> CEO <keyword id="20023956" type="General" weightage="20" keywordseo="bob-iger" source="keywords">Bob Iger</keyword> has said a joint venture with <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> Industries after merging its <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> business would benefit the company in terms of profit and also "derisk" its business in the Indian market. The merger deal will create a big entity and help it to stay in the market at a "significant level", said Iger at a Morgan Stanley investor conference earlier this week. "We had an opportunity to align with Reliance, which is obviously the company that has done very well there and one that we respect. And in doing so, end up owning part of a bigger media company. And we believe that, that not only should benefit us in terms of the bottom-line, but derisk us as well there," he said. Last month, Walt Disney Co. and Reliance Industries announced signing of binding pacts to merge their media operations in India. Under the deal, Reliance and its affiliates will hold 63.16 per cent and Disney will have 36.84 per cent in the JV, which will create India's leading media company that will house two streaming services and around 120 television channels. "We wanted to stay in India. We made a big investment in India when we purchased the assets of 21st Century Fox. We are one of the biggest media companies in India. But even though it is the most populous country in the world, we felt we want to be there because of that, we also know that there are challenges in that market," he said. Iger said, the merger will create a big entity and help it to stay in the market at a "significant level". "So, it's kind of the best of both worlds. We stay in the market at a significant level. We have a very good partner in Reliance, and we get to have a chance of growing a business and lowering the risk of doing so," he added. The transaction values the joint venture at Rs 70,352 crore (USD 8.5 billion) on a post-money basis, excluding synergies. Billionaire Mukesh Ambani-led Reliance has also agreed to invest at closing Rs 11,500 crore into the joint venture to give it the muscle to fight rivals such as Japan's Sony, and Netflix. Its OTT platform Disney + Hotstar has seen its paid subscriber base decline from around 55 million to 40 million in the first quarter of FY24 because of Reliance's <keyword id="19985346" type="General" weightage="20" keywordseo="jio-cinema" source="keywords">Jio Cinema</keyword> winning exclusive rights for live sports. The combined entity will have the largest OTT subscriber base. Disney + Hotstar was launched in India in 2020, post the acquisition of the entertainment assets of 21st Century Fox at a valuation of USD 71.3 billion, thereby taking over the operations of Star India and Hotstar. It housed entertainment and cinema channels such as StarPlus and StarGold as well as sports channels like Star Sports. While Disney + Hotstar rapidly increased its subscriber base initially with the streaming rights of cricket matches (IPL, World Cup), it lost the bid for the digital streaming rights in 2023-27 cycle, which was won by Reliance-backed Viacom18 for USD 720 billion, 12.92 per cent higher than what Star India had paid on an average per match value. Media ventures of Reliance are currently housed in Network 18, which owns TV18 news channels as well as a plethora of entertainment (under the 'Colors' brand) and sports channels. NW18 also has stakes in moneycontrol.com, bookmyshow and publishes magazines. NW18 owns news channels CNBC/CNNNews. Reliance separately owns a movie production arm - JioStudios, and majority stakes in two listed cable distribution companies, Den and <keyword id="20777796" type="General" weightage="20" keywordseo="hathway" source="keywords">Hathway</keyword>. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-february-2024/slidelist/108323754.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-february-2024/slidelist/108323754.cms" target="_blank">Top selling cars in India in February 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-and-xiaomi-14-ultra-with-snapdragon-8-gen-3-launched-in-india/articleshow/108304169.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-and-xiaomi-14-ultra-with-snapdragon-8-gen-3-launched-in-india/articleshow/108304169.cms" target="_blank">Xiaomi 14 and Xiaomi 14 Ultra with Snapdragon 8 Gen 3 launched in India</a><a href="https://www.businessinsider.in/business/auto/news/retail-auto-sales-grow-by-13-in-february-but-elevated-inventory-levels-a-concern/articleshow/108289901.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/retail-auto-sales-grow-by-13-in-february-but-elevated-inventory-levels-a-concern/articleshow/108289901.cms" target="_blank">Retail auto sales grow by 13% in February, but elevated inventory levels a concern</a>

Merger with Reliance would boost company's profits and reduce risk in India: Disney CEO Bob Iger

<ul><li>This March, RIL and Reliance Communications (RCom) terminated the sale agreement by mutual consent after Department of Telecommunications (DoT) refused to clear the sale </li><li>The lenders of RCom too wanted the new buyer to take some of the debt off the books, which was at ₹46,000 crore. </li><li>RCom is sitting on valuable assets like 43,000 telecom towers and 4G spectrum, apart from real estate. </li></ul> Mukesh Ambani’s Reliance Industries might revive its plans to purchase the assets of bankrupt Reliance Communications which belongs to his brother, Anil Ambani,<a href="https://www.businesstoday.in/top-story/mukesh-ambani-reliance-industries-may-bid-for-anil-rcomm-in-bankruptcy/story/364881.html"> according to reports</a>. This March, Reliance Industries had to go back on its plans to buy Reliance Communications due to the many legal and other hurdles created by the by Telecom Ministry and the younger Ambani's lenders. Both the parties terminated the sale agreement by mutual consent after Department of Telecommunications (DoT) refused to clear the sale as they still owed them payments. The lenders of RCom too wanted the new buyer to take some of the debt off the books, which was at ₹46,000 crore. However, the buyer was not too keen on taking it on, leading to differences. Now that RCom is in bankruptcy court, the situation might have a buyer’s advantage. For Mukesh Ambani’s Jio, which started operations on 2016, RCom’s assets will come in handy. Not only is Jio planning to gain as much as half the share of the country’s telecom usage, it is also<a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-speeds-up-its-broadband-plan/articleshow/70139677.cms"> building a massive</a> fibre-to-home infrastructure and cater to the data needs of 75 million homes. Jio is also <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-may-go-public-next-year-as-debt-for-discounts-starts-to-bite-and-5g-era-beckons/articleshow/69885410.cms">raising capital </a>and taking debt off its books by bringing in investors into investment trusts (INVITs), which might provide it with the headroom for an acquisition. This is expected to bring in as much as ₹20,000 crore, as <a href="https://www.livemint.com/companies/news/ril-to-infuse-another-20-000-crore-into-jio-1560880046085.html">per reports</a>. Even as RCom shut shop, it is sitting on valuable telecom assets. For one, it has 43,000 telecom towers and 4G spectrum (airwaves) in the 850 MHz band, apart from wireless infrastructure, cable, switching nodes and much more. RCom is also sitting on real estate in the prized Navi Mumbai SEZ area, which was acquired by the father, Dhirubhai Ambani himself. In Anil Ambani’s words, the land assets at Dhirubhai Ambani Knowledge Centre (DAKC) are valued at over ₹26,000 crore, said the Business Today report. RCom has been on Mukesh’s radar for a long time, as it is said that he had envisioned the group’s entry into the telecom sector, and laid the groundwork. However, when the group split in 2004, RCom went into Anil’s kitty.RC Gradually, as RCom shifted technology from CDMA to GSM, it had made investments to expand and shift gears. By then, new competition had come in the form of Tata Docomo that took pricing power away, throwing it into trouble. The rest of the damage was done by evolving technologies which RCom could not keep up with, or even sell assets like it wanted to. All in all, RCom almost took the promoter Anil Ambani to jail. Supreme Court had ordered him to pay dues to the tune of ₹460 crore to Ericsson its vendor or go to jail. Mukesh had to step in and make the payment last minute to save him. SEE ALSO <a href="https://www.businessinsider.in/anil-ambani-goes-from-yacht-to-almost-jail-to-bankruptcy/articleshow/69835915.cms">Anil Ambani may not be a billionaire anymore — here's how he lost it all in just a decade</a> <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-may-go-public-next-year-as-debt-for-discounts-starts-to-bite-and-5g-era-beckons/articleshow/69885410.cms">Mukesh Ambani’s Reliance Jio may go public next year as debt for discounts starts to bite and 5G era beckons</a>

Mukesh Ambani may now have a reason to buy Anil Ambani's bankrupt RCom, say reports

<ul><li><keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> has made an upfront ₹9,500 crore offer for all of Rcomm’s assets.</li><li>Mukesh Ambani’s <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> has only offered a ₹3,600 crore cash payment.</li><li>But even the highest bid is still just one fourth of the company’s debt of ₹46,000 crore.</li></ul><keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s <keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> has received bids from Airtel, Jio and others for its assets. While that is good news for shareholders, the amounts they receive show that its many lenders might recover only a sliver of the massive ₹46,000 crore debt. The highest bid was by Bharti Airtel which made a ₹9,500 crore upfront offer, sources told <a href="https://www.livemint.com/industry/telecom/bharti-airtel-offers-highest-upfront-cash-for-rcom-assets-but-with-riders-11574922030448.html">Mint.</a> Meanwhile Anil Ambani’s elder brother Mukesh Ambani’s Jio has offered ₹3,600 crore as cash payment, but hasn’t bid on spectrum or real estate assets. The others who bid include UV Asset Reconstruction and US-based equity fund Varde Partners. Rcom’s assets include airwaves in 14 telecom circles, 43,000 telecom towers, licence for its 800 MHz 4G spectrum--that is set to expire in July 2021. RCom’s real estate assets are also up for offer. Lenders have been trying to sell all of its assets at one go, instead of auctioning each asset individually. Reliance Communications slipped into bankruptcy in May this year, after which resolution professionals took over the company. It had been losing customers for years before due to extreme competition and an excessive debt that ate into its equity value as well. It had tried to sell its assets to Jio earlier this year but it could not go through after Ericsson filed a case in courts on non-payment of <a href="https://www.businessinsider.in/anil-ambanis-rcom-could-get-refund-from-ericsson-says-india-court/articleshow/68794729.cms">dues</a>. See Also: <a href="https://www.businessinsider.in/stock-market/news/anil-ambanis-rcomm-and-rnel-stocks-gain/articleshow/72256319.cms">Two Anil Ambani Group stocks — which were trading for less than ₹1 — are buzzing again</a> <a href="https://www.businessinsider.in/anil-ambani-owned-rcom-assets-may-fetch-less-than-25-of-dues-to-chinese-banks/articleshow/70942671.cms">Chinese banks have a lot to lose as Anil Ambani’s RCom assets may be worth a quarter of the loans</a>

RCom lenders might recover just a fourth of their loans after asset sale

Phoning home becomes becomes increasingly difficult as we venture further into <keyword id="41531" type="General" weightage="20" keywordseo="space" source="Orion">space</keyword>. Even India's Chandrayaan-3 lunar mission, despite its relatively close proximity to <keyword id="6359982" type="General" weightage="100" keywordseo="earth" source="Orion">Earth</keyword>, relied on computer simulations instead of a live feed of its landing. Much of this is due to our reliance on <keyword id="12905" type="General" weightage="20" keywordseo="radio" source="Orion">radio</keyword> waves for space communication poses a significant challenge. While radio waves are somewhat reliable, it is difficult for them to carry as much data as other types of emissions. <keyword id="6360409" type="General" weightage="50" keywordseo="nasa" source="Orion">NASA</keyword>'s <keyword id="19594526" type="General" weightage="50" keywordseo="deep-space-optical-communications" source="Orion">Deep Space Optical Communications</keyword> (DSOC) experiment has made a major breakthrough in this area. Travelling on NASA's <keyword id="176204" type="General" weightage="80" keywordseo="psyche" source="Orion">Psyche</keyword> spacecraft, the experiment successfully transmitted data via a near-infrared <keyword id="6534807" type="General" weightage="20" keywordseo="laser" source="Orion">laser</keyword> to Earth from a distance of 16 million kilometres — 40 times the distance between Earth and the <keyword id="42440" type="General" weightage="50" keywordseo="moon" source="Orion">Moon</keyword>. This achievement marks the first time such capabilities have been demonstrated with near-infrared emissions. Laser beams offer a distinct advantage over radio waves: they can transmit vastly more data at significantly higher speeds. In fact, the DSOC technology aims to achieve transmission rates 10 to 100 times greater than current top radio communication systems. This breakthrough will enable us to transmit immense amounts of information about the cosmos and facilitate the development of next-generation space satellites capable of capturing higher-resolution data. Faster communication speeds would also allow for live video streams from the surface of <keyword id="47638" type="General" weightage="50" keywordseo="mars" source="Orion">Mars</keyword>, providing real-time glimpses of the Red Planet's landscapes. Despite these advancements, there are still challenges to overcome. Precisely aligning laser beams becomes increasingly difficult over long distances, requiring effective calibration between space and ground satellites. Additionally, signal weakening as the laser beam travels introduces delays in communication. During the November 14 test, it took approximately 50 seconds for the data-carrying photons to travel from Psyche to Earth. When Psyche reaches its farthest point, this delay will extend to around 20 minutes. To compensate for these shifts, real-time adjustments must be made to both the ground-based and spacecraft-based lasers to ensure uninterrupted communication. This was the first test to fully incorporate the ground assets and flight transceiver, requiring the DSOC and Psyche operations teams to work in tandem, explains Meera Srinivasan, operations lead for DSOC at <keyword id="136455" type="General" weightage="50" keywordseo="jpl" source="Orion">JPL</keyword>. "It was a formidable challenge, and we have a lot more work to do, but for a short time, we were able to transmit, receive, and decode some data." The DSOC experiment is a significant step forward in space communication, paving the way for faster, more reliable data transmission from deep space.

Earth receives first transmission via laser beam from 16 million kilometres away!

New Delhi, Reliance Capital's (RCAP) expression of interest (EOI) for asset monetisation garnered mega response with 60 bids being received. <keyword id="13222" type="DOMAIN" weightage="20" keywordseo="SBI">SBI</keyword> Life and Apollo are among the 10 new bidders who have submitted expressions of interest for Reliance Capital's assets, taking the total number of bids to 60. December 1 was earlier the deadline for the submission of EOIs. Over 60 different bids have been received with SBI Capital Markets Limited and JM Financial Services Limited, the advisors to the lenders. Later the date for submitting the bids was extended to December 17. Over eight bidders have bid for entire RCAP assets on an as-is-where-is basis. The prominent among them are Oaktree, J.C. Flower and multiple ARCs. For Reliance General Insurance, which is owned 100% by RCAP, there are 18 bidders and prominent among them are, Chryscap, J.C. Flower, Blackstone, KKR, CVC Capital Partners, and Bain Capital. For Reliance Nippon Life Insurance, in which RCAP owns 51% controlling stake, has received 16 bids, including Bain Capital, NIIF, Arpwood Partners, Dabur Investments, Bandhan Bank, and <keyword id="884924" type="COMPANY" weightage="20" keywordseo="Multiples-Asset-Management">Multiples Asset Management</keyword> among others. For Reliance Securities, there are eight bidders, including Bain Capital, Religare Broking, Edelweiss Securities and other ARCs. For Reliance ARC, there are six bidders, including Bain Capital, International Asset Reconstruction Company and other ARCs. For Reliance Health, there are eight bidders - Blackstone, Bain Capital, Arpwood Partners, and other ARCs. There are also multiple bidders for RCAP's stake in ICEX and Paytm E-commerce business. Reliance Capital asset monetization process, to unlock value of its underlying businesses and to make RCAP debt free, was launched on October 31, 2020. The monetization process being run under the aegis of Committee of Debenture Holders and <keyword id="10477607" type="COMPANY" weightage="20" keywordseo="the-debenture-trustee-vistra-itcl-india-ltd">the Debenture Trustee Vistra ITCL India Ltd</keyword> - which represents 93% of total outstanding debt of Reliance Capital. EOIs were invited for all or part of RCL's stake in the following key subsidiaries and assets individually or in any combination thereof. This includes 100% stake in Reliance General Insurance Company Limited (RGI). It has a paid up capital of Reliance General Insurance is ₹252 crore as of September 30, 2020. It is the 4th largest <keyword id="10477608" type="COMPANY" weightage="20" keywordseo="private-general-insurance-company">Private General Insurance Company</keyword> with market share of 4.5% as of March 2020 in the General Insurance category. It has shown consistent growth in AUM Year-on-Year with investment book of ₹12,315 crore as on September 30, 2020. The company performed its best even during COVID times with Gross Direct Premium Income of ₹4,501 crore during the first six months of FY20- 21. It has a strong distribution network of 134 branches with amongst largest agency force of 46,742 as of September 30, 2020 across the country. Bids have been invited for 51% stake in <keyword id="10203731" type="COMPANY" weightage="20" keywordseo="reliance-nippon-life-insurance-company-limited">Reliance Nippon Life Insurance Company Limited</keyword> (RNLI). The paid up capital of Reliance Nippon Life Insurance is ₹1196 Cr. as of September 30, 2020. RNLI is a joint Venture with Japan's largest life insurer - Nippon Life which holds 49 % shareholding. It is the 10th largest <keyword id="10203730" type="COMPANY" weightage="20" keywordseo="private-sector-insurer">Private Sector Insurer</keyword> (in terms of Individual WRP) and amongst largest Non-Banca company with a network of 717 offices. It witnessed sharp turnaround in performance during FY19-20 with a profit after tax of ₹35 crore and 75% growth (12% CAGR) in embedded value over last four years. It has an impressive claim settlement ratio of 98.1% in FY19-20 and a higher Solvency ratio of 207% (as against regulatory requirement of 150%). As on September 30, 2020, the AUM was ₹21,912 crore and an individual premium market share of 2.20% amongst private insurers. Bids have been invited for 100% stake in Reliance Securities Limited - Broking &amp; distribution company offering services across asset classes including equities, commodities, derivatives, currency, mutual funds, bonds and corporate FDs. Also on offer is a 100% stake in Reliance Financial Limited - RBI registered NBFC, engaged in the business of financing, money lending, capital market linked financing activities, 49% stake in Reliance Asset Reconstruction Limited which manages portfolio of ₹1,996 crore as on September 30, 2020. A 20% stake in Indian Commodity Exchange is also being bid. Other key shareholders in ICEX are Central Warehousing Corporation, MMTC Limited, Indiabulls Housing Finance Limited, Indian Potash Limited and Bajaj Holdings and Investments. ICEX is a SEBI regulated commodity derivatives exchange. There is also 100% stake in Reliance Health Insurance Limited. Other PE investments like Naffa Innovations Private Limited, Paytm E-Commerce Private Limited. RCL's key businesses and subsidiaries are performing well and business will continue as usual. The management, professional team, customer and partners will be unaffected by the proposed asset monetisation programme of RCAP. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-spicejet-interglobe-aviation-tata-motors-pfizer-asian-paints-niit-lupin-and-others/articleshow/79849749.cms">Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms?upcache=2">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/startups/news/google-microsoft-invest-in-dailyhunt-for-its-short-video-platform-josh-making-it-the-latest-unicorn-in-india/articleshow/79850804.cms">Google, Microsoft invest in DailyHunt for its short video platform Josh – making it the latest unicorn in India</a>

Reliance Capital asset sale: SBI Life and Apollo join the race, nearly 70 bids received so far

<ul class="summary-list"><li>Entrepreneur and influencer <keyword id="13155047" type="UNKNOWN" weightage="60" keywordseo="gary-vaynerchuk" source="Orion">Gary Vaynerchuk</keyword> told <keyword id="12062982" type="UNKNOWN" weightage="60" keywordseo="cnbc" source="Orion">CNBC</keyword> that <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> are "grossly misunderstood."</li><li>Vaynerchuk, who has 2.9 million Twitter followers, is the creator behind the popular NFT series <a href="https://opensea.io/collection/veefriends">Vee Friends</a>.</li></ul>Entrepreneur and influencer <a href="https://twitter.com/garyvee">Gary Vaynerchuk</a> said there are serious misconceptions surrounding the digital asset space and zeroed in on the debate over whether non-fungible tokens have value. The NFT bull and CEO of VaynerMedia explained his stance in an <a href="https://twitter.com/garyvee/status/1491654217970462721">interview with CNBC</a> Wednesday that has gone <a href="https://twitter.com/garyvee/status/1491654217970462721">viral</a> on social media."I think NFTs are grossly misunderstood," he said. "People thought that Andy Warhols and Jackson Pollocks should not have value. People thought that sports cards should not have value. People thought that sneakers should not have value." People trying to assess value on something based on their opinions "has made me laugh my entire life and has been historically incorrect," Vaynerchuk continued, adding that the market will decide if something has value.Rather than try to put a price tag on NFTs, he said he tries to understand why people buy them and compared the purchases to high-end handbags, sneakers and cars. "It's about brand." The difference today is that people are projecting themselves online more, he said, pointing to teenagers on gaming platforms like Roblox and Fortnite."We are living more and more increasingly in a digital landscape, and NFTs become assets to communicate who you are," he said. "And that's something human beings have done forever — bought things to communicate. And NFTs will be the scaled version of that."Vaynerchuk, also known as <keyword id="13155048" type="UNKNOWN" weightage="60" keywordseo="gary-vee" source="Orion">Gary Vee</keyword>, has 2.9 million Twitter followers and is the creator behind the popular NFT series <a href="https://opensea.io/collection/veefriends">Vee Friends</a>. The price for a single Vee Friends NFT is currently 13.25 ETH, or about $41,000. The NFT market boomed in 2021 to about <a href="https://markets.businessinsider.com/news/currencies/nft-market-41-billion-nearing-fine-art-market-size-2022-1">$41 billion</a> in sales — nearing the size of the traditional art market — as celebrities, artists, and investors poured into the nascent Web3 space.That momentum has continued into 2022. Over the past week, there were over <a href="https://markets.businessinsider.com/news/currencies/nft-crypto-best-selling-collections-non-fungible-tokens-doodles-sandbox-2022-2">$535 million in NFT sales.</a>

You Searched For "reliance communications asset sale" and got 12 results

Reliance Home Finance, Reliance Power shares hit lower circuit limits

PTI

Dubai-based siblings to transfer jiohotstar.com domain to Reliance 'free of cost'

PTI

I sell multi-million dollar homes to London's super-successful. The internet has meant buyers have become much younger.

Polly Thompson

Adani-Paytm Deal: Both One97 Communications and Adani Group deny reports as ‘baseless’ and ‘speculative’

Sourabh Jain

India's telecom equipment manufacturing sales cross ₹50,000 crore under PLI scheme

ANI

Jio Platforms buys US-based communications equipment maker Mimosa Networks for $60 million

PTI

Merger with Reliance would boost company's profits and reduce risk in India: Disney CEO Bob Iger

PTI

Mukesh Ambani may now have a reason to buy Anil Ambani's bankrupt RCom, say reports

Katya Naidu

RCom lenders might recover just a fourth of their loans after asset sale

Sanchita Dash

Earth receives first transmission via laser beam from 16 million kilometres away!

Ankush Banerjee

Reliance Capital asset sale: SBI Life and Apollo join the race, nearly 70 bids received so far

IANS

Gary Vaynerchuk explains the value of NFTs: they are 'assets to communicate who you are'

Phil Rosen

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