February 25, 2017 3:11 AM ET

Diversified Telecommunication Services

Company Overview of Reliance Jio Infocomm Limited

Company Overview

Reliance Jio Infocomm Limited provides broadband services to customers using WI-MAX as access technology pan India. The company was formerly known as Infotel Broadband Services Limited and changed its name to Reliance Jio Infocomm Limited in January, 2013. The company was incorporated in 2007 and is based in Mumbai, India. Reliance Jio Infocomm Limited operates as a subsidiary of Reliance Industries Limited.

Makers Chambers IV

9th Floor

222 Nariman Point

Mumbai,  400 021

India

Founded in 2007

Phone:

91 22 4477 0000

Key Executives for Reliance Jio Infocomm Limited

Chief Executive Officer
Age: 55
Managing Director and Director
Age: 67
President of Network, Global Strategy, and Service Development
President of Devices Business
Senior Vice President
Age: 54
Compensation as of Fiscal Year 2016.

Reliance Jio Infocomm Limited Key Developments

Reliance Jio and Uber Announce Strategic Partnership

Reliance Jio Infocomm Ltd. and Uber have announced a strategic partnership aimed at bringing the benefits of Jio Digital Life ecosystem to their users. As part of the partnership, Jio and Uber will work together and explore various opportunities to progressively enrich and enhance the Digital Life experience of their users through complementary programmes. JioMoney, the PPI wallet offered by Reliance Payment Solutions Ltd, and Uber announced an agreement that will enable Uber riders to pay for their rides using JioMoney and thereby enhance the digital transaction ecosystem in India. Similarly, JioMoney users will soon be able to request and pay for Uber rides from within the JioMoney app. The partnership will give a major boost to cash-free payments in India and provide mobility options to millions of Jio users. Starting on February, Uber will gradually rollout the JioMoney payment option for its users across the country. This integration provides a hassle-free payment experience to Uber riders and will be an added avenue for digital transactions for JioMoney's rapidly growing user-base across India.

Reliance Jio Planning To Issue Rights Share To Raise Funds For Expansion.

Reliance Industries Limited's (NSEI:RELIANCE) telecom arm Reliance Jio Infocomm Limited is planning to issue rights shares to raise resources for a planned INR 300 billion (about $4.4 billion) network expansion to boost coverage and increase capacity, which would help the company reduce its dependence on other telecom operators for interconnectivity. The fresh investment in network expansion will take total investment in the network close to INR 190 billion. "In view of the unprecedented customer response to Reliance Jio's services as well as address the anticipated growth in demand for digital services, additional investments are proposed to be made into the network to enhance its coverage and capacity," Reliance Jio said in a rights issue notice for existing shareholders on Friday. These investments are proposed to be financed largely through an equity offering to strengthen its balance sheet for growth, it added. "The company wishes to inform that board of directors at its meeting held on January 13, 2017, has decided to make a rights issue of 6 billion - 9% non-cumulative optionally convertible preference shares of INR 10 each for cash, a premium of INR 40 per OCPS, aggregating INR 30,000 crore," the notice read.

Vodafone Reportedly Seeks Merger Partner For Indian Arm

Vodafone Group Plc (LSE:VOD) is reportedly weighing a potential merger of its Indian arm Vodafone India Limited with rivals as it seeks a turnaround in India mobile market. Vodafone Group’s board is now understood to be looking at the possibility of a tie-up with either Reliance Jio Infocomm Limited (Jio), or Idea Cellular Limited (NSEI:IDEA) (Idea), another of the top four providers. Jio and Idea could themselves combine, however.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
September 12, 2016
--
Merger/Acquisition
July 15, 2016
Reliance Communications Ltd., Spectrum Across 13 circles
Private Placement
July 14, 2016
--
 

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