Reliance Communications, Inc. provides communication solutions for the education market. The company offers SchoolMessenger notification service to deliver large volumes of messages through various channels, including voice, email, SMS text message, push notification, social media, Web post, desktop alert, and more; and a custom mobile application that allows districts to claim its place in the application stores, as well as deliver news, alerts, events, sports scores, lunch menus, and grades. It allows colleges and universities to send admission related reminders, campus parking ticket reminders, athletic event reminders, alumni relations campaign information, staff/faculty meeting reminder...
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Sale Of Indian Corporate Assets Has Begun To Tide Over Bad Loans Crisis
May 9 16
Many Indian Big shots are considering Assets Sale. It's even bigger than the government's planned divestment target. The Reserve Bank of India's has decided to clean up the balance sheets of Indian banks, which are collectively saddled with INR 0.5 trillion of bad loans, by the end of this fiscal. So, the banks have started cracking the whip on Indian companies to repay loans. Reliance Industries Limited (NSEI:RELIANCE) alone owes INR 0.012 trillion of loans to the banks and had an annual interest liability of INR 0.083 trillion. Some of the group’s firms, like Reliance Industrial Infrastructure Limited (NSEI:RIIL) and Reliance Defence, don't earn enough to service the interest outgo. Assets put on sale by the Reliance Group include about 44,000 telecommunications towers and optic fibre and related infrastructure from Reliance Communications, Inc., its flagship firm. Reliance Infrastructure is sitting on a debt pile of INR 0.25 trillion as of February, 2016. It is looking to sell its entire roads portfolio, valued at INR 0.9 trillion, for which three international bidders have been short-listed. Reliance Capital, with a debt of INR 0.24 trillion has sold stake, in phases, in its mutual fund and life insurance businesses to Nippon Life Insurance for INR 0.35 trillion. Shashi and Ravi Ruia's Essar Global Holdings Limited has gross debt of INR 1.01 trillion. The group is looking to sell about 50% stake of its family silver, i.e., Essar Oil's 20mtpa Vadinar refinery, for INR 0.25 trilion. The debt-laden group is also looking to sell stake in its ports business. Essar Steel and Essar Oil each account for one-third of the group debt, and Essar Power is one-fifth. Gautam Adani's Adani Enterprises Limited (BSE:512599), with INR 0.96 trillion debt, is under pressure to sell its stake in the Abbott Point coal mines, port and rail project. Manoj Gaur’s Jaiprakash Associates Limited (BSE:532532)’s debt is over INR 0.75 trillion. The group has agreed to sell its 20mtpa of cement assets to Kumar Birla-led Ultratech for INR 0.16 trillion. This will leave its listed entities with about 6mtpa of cement capacity, three thermal power plants, one hydropower plant, an expressway project and land parcels. It is looking to sell most of these assets at the right price, but buyers are not easy to come by. GM Rao's GMR Infrastructure Limited (BSE:532754)’s total debt has gone up from INR 0.42 trillion at the end of FY13 to INR 0.47 trillion as of March, 2015.The group is planning to raise about INR 50 billion this year by selling land parcels, energy assets and stake in its airport subsidiary. Last month, it announced it was selling part of a road project in Karnataka, to help it reduce its debt by more than INR 10 billion. It also plans to sell 30% in its airport arm, which is valued at a total of about INR 100 billion. Lanco International, Inc. plans to sell power assets worth INR 250 billion de-leverage its balance sheet and retire debts. It is also planning to sell a one-third stake in the Australian coal mine it acquired in 2011. GVK Biosciences Private Limited is in talks to sell 49%of its airport subsidiary. . The company is also exploring the possibility of bringing in equity investors into Hancock Infrastructure Pvt Ltd, its holding company for its rail and port projects in Australia. Jindal Steel & Power Ltd. (NSEI:JINDALSTEL) has agreed to sell its 1,000 MW power plant to his elder brother Sajjan Jindal and is looking to sell other assets to reduce debts. DLF Limited (NSEI:DLF) has sought expressions of interest from several top global investors to sell a 40% stake in its rental assets arm as it seeks to pare debt. Sahara India Pariwar Ltd.’s sale list is long: 86 real estate assets, a 42% stake in Formula One team Force India, four airplanes, and its hotels, the Sahara Hotel in Mumbai, Grosvenor House, London, the New York Plaza Hotel, and The Dream New York Hotel.