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Tag: Dhirubhai Ambani

  • Reliance Jio to raise Rs 3000 crore via debentures

    Reliance Jio to raise Rs 3000 crore via debentures

    MUMBAI: Even as it gears up to launch its much touted 4G service pan India, Mukesh Ambani’s Reliance Jio Infocomm is planning to raise Rs 3000 crore by issuing secured redeemable non-convertible debentures on private placement basis.

     

    As was reported earlier by Indiantelevision.com, Reliance Jio is slated to launch its 4G services across India on 28 December, which also happens to be the birth anniversary of the family’s patriarch Dhirubhai Ambani.

     

    In a regulatory filing, Reliance Jio said, “… pursuant to the approval of the board of directors and shareholders, the company proposes to issue secured redeemable non-convertible debentures aggregating up to Rs 3,000 crore on private placement basis,”

     

    It may be recalled that in May this year, Reliance Jio had taken a 12-year loan of Rs 4500 crore from Korea Trade Insurance Corporation (K-sure) for its 4G rollout. The funds were to be used to finance goods and services from Samsung Electronics and Ace Technologies Corp, which are being tapped for its infrastructure rollout. Thereafter in July, the company announced plans to raise Rs 4,500 crore through debentures.

     

    Reliance Jio is currently present across all 29 Indian states, with a direct physical presence in approximately 18,000 cities and towns, and more than one lakh villages. Ambani plans to launch 4G services with an approximate investment of Rs 100,000 crore.

  • Reliance Jio plans soft launch on Dhirubhai Ambani’s birth anniversary

    Reliance Jio plans soft launch on Dhirubhai Ambani’s birth anniversary

    MUMBAI: Touted as the most anticipated launch in the Indian telecommunications space, Mukesh Ambani’s Reliance Jio is planning a soft launch on the late family patriarch – Dhirubhai Ambani’s birth anniversary i.e 28 December, 2015.

     

    While Jio’s launch is being regarded as the game changer of the Digital India vision, the task cut out for the newest telecom company in the fray is not as simple as rival Bharti Airtel, which is also gearing up to launch its 4G network.

     

    During the company’s Annual General Meeting earlier this year, Reliance Industries chairman Mukesh Ambani spoke about Jio’s commercial launch in December 2015. However, a source close to the development tells Indiantelevision.com that while the soft launch will happen in December this year, the commercial launch will only be somewhere around March 2016.

     

    “Airtel has a full fledged 3G network across the country and hence if consumers are out of the 4G network area coverage, they can operate on 3G. However, Reliance Jio cannot follow this proposition due to unavailability of the 3G network. We are planning for a soft launch on a good day in December,” the source says.

     

    The source also confirmed that Reliance Jio’s commercial launch, which will facilitate consumers from across 5,000 cities and towns, might get delayed to March.

     

    Recently, Reliance Jio Infocomm signed a deal with US-based test and measurement equipment provider Keysight Technologies to test its 4G network. Analysts peg that the testing deal may have cost Reliance Jio approximately Rs 100 crore.

     

    Ambani plans to launch 4G services in over 5,000 cities and towns across India with an approximate investment of Rs 100,000 crore. Test runs have already begun in some parts of the country.

  • Scarecrow Communication adds only Vimal to its kitty

    Scarecrow Communication adds only Vimal to its kitty

    MUMBAI: Reliance’s textile company ‘Only Vimal’, started by Dhirubhai Ambani with ‘dare to dream and learn to excel’ spirit. Scarecrow Communications has been appointed as the creative agency for the brand.

    According to the sources, the account size is Rs 30 crore.The creative agency has won the account in a multi agency pitch. The former agency on the account was Grey Worldwide.

    Scarecrow founder director Manish Bhat said, “Vimal is a truly iconic Indian brand. The brand pioneered lifestyle communication in India by using brand ambassadors like Sir Vivian Richards. In fact, with communication that was ahead of its times, the brand was a guiding light for the Indian advertising industry. Scarecrow is thrilled to contribute to the task of bringing back the brand’s iconic status.”

    Scarecrow Communication founder and director Raghu Bhat

    “It is interesting and challenging to reposition a strong Indian lifestyle brand in a scenario where Indians are constantly upgrading their lifestyles and global lifestyle brands are trying to penetrate the Indian Market,” added Scarecrow founder director Arunava (Joy) Sengupta.

    Scarecrow Communication founder and director Raghu Bhat said, “Winning the Only Vimal account is a definite landmark in the journey of Scarecrow. It is a brand we have grown up with and the task of re-launching it is a responsibility we shall do our best to live up to. We are thankful to the Vimal management for having reposed so much faith in a young agency like ours.”

    Officials have confirmed that the agency is working on the plans for TVCs.