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In a notable move, just ahead of the forthcoming state Assembly elections, Chief Minister of Maharashtra, Eknath Shinde declared a complete toll relief for light motor vehicles at all the five toll booths entering Mumbai. The toll waiver will be effective from Monday midnight as the motorists enter the city, providing them a relief. The government's decision is viewed as a strategic move to facilitate smoother travel and encourage increased voter turnout in the upcoming elections.
Reliance Jio has requested communications minister Jyotiraditya Scindia to command the Telecom Regulatory Authority of India to send out a clear and fresh consultation on the allocation of the satellite spectrum, alongside considering the auction a part of the discussions.
An analysis of the economic and technical feasibility of spectrum auctions for satellite services payable to the linkup between telecom services and satellite.
The issue underscores the fact that the Telecom Act has opened doors of opportunities for administrative allocation (without a need for auction) of spectrum for select services encompassing satellite communications. Alongside this, Jio has also requested the minister the hold a fair and open consultation on the assignment of spectrum’s methodology, focusing on the legislative objective as per the Telecom Act.
Hyundai is set to roll out its $3.3 billion Initial Public Offering (IPO) ON Monday in Mumbai. This marks the largest share offering in India and the second largest worldwide in 2024. The IPO shed lights on India's powerful capital market, which has already experienced growth of over $9 billion this year. The car company's South Korean parent will sell 17.5% of its stake, pricing the unit at $19 billion. No new shares will be issued. Trading will commence on 22nd October, where institutions will begin bidding from Monday, whereas retail investors from Tuesday.
According to reports from last, Saregama has set sights on a majority stake in Dharma Productions. Following the movez Reliance Industries Ltd (RIL) is reportedly in discourse to earn a stake in celebrated Bollywood filmmaker Karan Johar's Dharma Productions, as reported by The Economic Times. If finalized, the deal would fortify the oil-to-telecom magnate’s foothold on India's content production sector.
The precise size of the stake being discussed remains unknown. According to a source, Karan Johar has been looking to monetise his stake in Dharma Productions for some time, but previous deals fell through due to disagreements over valuation. If the acquisition goes through, it would strengthen Reliance's media and content portfolio, which already includes Jio Studios, Viacom18 Studios, Colosceum Media, and a minority stake in Balaji Telefilms. Earlier this month, reports suggested that Dharma was in talks with Saregama, part of the RP Sanjiv Goenka Group, to sell a majority stake. However, in an October 8 filing with the Bombay Stock Exchange (BSE), Saregama stated that there were no significant updates on the discussions.
