The Hindu Business Line : Corporate developments

IOL Netcom Ltd has entered into CDMA franchisee agreement with Mahanagar Telephone Nigam Ltd (MTNL) as a lead consortium partner to provide CDMA mobile services in Mumbai and Delhi, which have the highest tele density and growth. IOL Netcom plans to introduce ‘IOL mobile’ brand within 90 days. The combined average revenue per user is expected to be over Rs 450 a month with a targeted base of over 1 million in the next few months. The revenue from this service is expected to contribute significantly to the topline of the company. The initiation of IOL Netcom’s CDMA mobile services will now allow IOL Netcom to offer multi play services comprising of mobile, data card, desktop CDMA phone, PCO, IPTV, broadband and VOIP. With the above mentioned capabilities, IOL Netcom joins select large telecom companies in the country capable of offering multi play services all over India.

Jagran 18 Publications Ltd’s board of directors, which reviewed the launch of business paper in regional languages, has decided that given the prevailing market conditions its prudent to defer the project.

Tata Motors Ltd has informed that the company would determine detailed terms of the proposed rights issue of ordinary shares and ‘A’ ordinary shares aggregating up to Rs 4,200 crore, including the issue price, on September 2.

Valecha Engineering Ltd’s board has fixed October 3 as the record date for the bonus issue.

More Stories on : Announcements

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page