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Airtel gets payment from Jio for new poIs; joint testing now

Bharti Airtel sought Jio’s cooperation for timely testing and commissioning of the network ports.
•    Airtel said interconnect agreement provides for a commissioning period of 90 days.
•    The telecom operator said it has ensured there are no capacity constraints from its end. 
•    We hope Jio will extend its full cooperation to ensure timely testing and commissioning of the PoIs it said in a statement. 
•    Airtel released ‘demand notes’ for the additional PoIs on September 14 itself.
•    The payment against the demand notes was received in parts by Airtel on September 15, 2016 and September 16, 2016.
•    As per the bilateral agreement, Airtel and Jio will now have to jointly undertake the physical connection and testing of the PoIs. 
•    Consequent to successful testing of the PoIs, these will be opened for traffic. 

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ICICI Pru Life Rs. 6057 crore IPO

ICICI Prudential Life Insurance's IPO, worth up to Rs 6,057 crore and biggest for Indian markets in about six years, will hit the capital market on Monday.
•    Ahead of the IPO, ICICI Prudential has allocated over 4.89 crore shares at Rs 334, the top-end of the price band, aggregating Rs 1,635.33 crore to a clutch of anchor investors from India and abroad. 
•    It marks one of the biggest anchor investor placements in the Indian IPO market.
•    Among the 40-odd anchor investors are Morgan Stanley, Goldman Sachs, Nomura, Government Of Singapore, UTI MF, Russell Investment, GMO Emerging, SBI MF, Tata MF, HDFC Standard Life, Reliance, Birla Sun Life, Kotak Mahindra, IDFC,National Pension Service Managed By Oaktree Capital Management L P and The Boeing Company Employee Retirement Plans Master Trust.
•    The offer would constitute 12.63% of the company's post-offer paid-up equity share capital. 
•    At the upper end of the price band, the offer would be worth Rs 6,057 crore.
•    This would be the biggest initial public offering after Coal India. 
•    The state-run firm had hit the capital markets in 2010 to raise over Rs 15,000 crore.

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RCom-Aircel Merger to Create a Dominant Force


Anil Ambani-led Reliance Communications and Maxis Communications Berhad (MCB), promoters of Aircel, on 14 September 2016 agreed to merge their wireless businesses to form the fourth-largest telecom operator in the country.
The merger is termed as the biggest consolidation deal in India's telecom sector.
•    Sistema will continue to hold 10 per cent in standalone R-Com.
•    Both R-Com and Maxis will hold 50 per cent each in the new entity.
•    The merged company will be one of India’s largest private sector companies. It will have an asset base of over 65000 crore rupees and net worth of 35000 crore rupees.
•    The company will be managed by an independent professional team under the supervision of the board.
•    After completion of the merger in 2017, RCom’s overall debt will reduce by 20000 crore rupees or over 40 per cent of its debt.
•    Aircel’s debt will reduce by 4000 crore rupees.
•    It will enjoy enhanced business continuity through extended validity of spectrum holdings till 2033-35.

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