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RCOM board approves 26% stake sale
Reliance Communications board has approved sale of 26% stake opening the doors for Etislat deal [read: Etisalat Reliance Communications Tie up—Tangles untangled)
The company had net debt of Rs 19,889 crore at March-end with annual earnings before interest, tax depreciation and amortisation (EBITDA) of Rs 7,820 crore. Add to that the cost of 3G and WiMax spectrum and its debt to EBITDA multiple, used as a measure of a company’s future access to cash, will be above five times, much higher than its competitors. – source
Indiagames to change brand to ‘UTV IndiaGames’
Indiagames will now function under the brand name of UTV Indiagames. The company will adopt the new brand name as part of its ongoing synergy with its majority stake holder – UTV Software Communications Ltd (UTV). The registered name of the company will continue to be Indiagames Ltd. There is no change in the company’s management, or operations and the shareholding pattern remains unaltered. – more
Future Innoversity, Future Group enters Education Sector
Future Group has announced entry in the Education sector with the launch of Future Innoversity. Future Innoversity will launch fulltime 2-year and 3-year MBA and BBA programmes with specialisation in retail or entrepreneurship [source] and has three campuses in Bangalore, Kolkata and Ahmedabad.
BWA Bid has touched Rs. 9,387 Cr on the 11th day of the auction (dot site (pdf), translating into revenue of Rs 29,512 crore for the government.
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