Top Story

Home >> International >> Article

Agrani plans to offload 74% to foreign investors

18-July-2001
Font Size   16
Agrani plans to offload 74% to foreign investors

Agrani Satellite Services Ltd (ASSL), a subsidiary of Subhash Chandra-promoted ASC Enterprises Ltd. which plans to build and manage communication satellites, is planning to off-load 74 per cent to a consortium of foreign investors including a strategic partner. It has also indicated a project cost of Rs 1,197 crores ($245 million) which will be funded with a debt-equity ratio of 3:2.

The C- and Ku-band satellite proposed to be procured from ASI will be named Agrani-2 and is built around Alcatel's Spacebus satellite platform.

Once the system is in place, ASSL proposes to market and lease satellite transponder capacities over India and neighbouring countries and to provide bundled solutions to meet the fast growing telecommunications, television, Internet and other multimedia requirements in the region.

The Satcom policy announced by the department of space, permits a maximum 74 per cent shareholding in satellite operating companies.

ASC Enterprises was the first company to show interest in the satellite communication system owning and operating business, when in 1995 it obtained government approval to set up a joint venture with total FDI of $374 million to implement a GMPCS project. However, the project failed to take-off because of adverse business conditions.

Tags

Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer

Tim Castree is all praises for his team in India and trusts it to be a result of “an excellent execution of agency’s global strategy” headed by Kartik Sharma

Siddharth Dabhade says Criteo’s technology allows brands to engage with shoppers, create relevant experience on retail apps, thereby driving sales and profits

Shantanu Gangane says OTT platform Viu plans around 20+ originals and is all set to enter the Tamil market with a mix of syndicated and original content

right
left
OFF THE CUFF HAS JOURNALIST ARUN SHOURIE IN CONVERSATION WITH SHEKHAR GUPTA IN MUMBAI IAA HOSTS FIRST INDIAA REGIONAL AWARDS (TELUGU) IN HYDERABAD BREAK THE CEILING TOUCH THE SKY 2018 SEES OVERWHELMING INDUSTRY PARTICIPATION 10TH EDITION OF ABC EUREKA AWARDS IN MUMBAI CELEBRATES WORK OF PARTNER AGENCIES EMINENT JURY PICKS LOUDEST’S 100 MOST POWERFUL INDIAN MUSIC BUSINESS LEADERS MODE LOFT BY SABGROUP LAUNCHES SIGNATURE MENSWEAR POWER DRESSING CLOTHING LINE TOP MARKETERS DISCUSS ART AND SCIENCE OF EFFECTIVE LISTENING @PITCH CMO SUMMIT 2018, DELHI THIRD SEASON OF ‘INDIA’S TOP DIGITAL PLANNERS’ RECOGNIZES EXCELLENCE IN THE DIGITAL INDUSTRY WOMEN ECONOMIC FORUM 2018 SEES DISTINGUISHED GLOBAL PERSONALITIES IN ATTENDANCE PEPPER CREATIVE AWARDS 2018 RECOGNIZE THE BEST IN ADVERTISING IN SOUTH INDIA RADIO CITY’S POWER OF RADIO MEET HOSTS TOP ADVERTISING INDUSTRY LEADERS TOP INDUSTRY PERSONALITIES ATTEND ZOOM-MYNTRA EVENING TO CELEBRATE THEIR PARTNERSHIP LEADING MARKETERS, EXPERTS SHARE INSIGHTS ON DIGITAL TRANSFORMATION @ADOBE SYMPOSIUM IN MUMBAI NICKELODEON TRADE PARTY SEES MARKETING INDUSTRY LEADERS AND THEIR FAMILIES IN ATTENDANCE GOLDEN MIKES RADIO ADVERTISING AWARDS 2018 RECOGNIZE INDUSTRY’S MOST DESERVING ACHIEVERS AIMA MANAGING INDIA AWARDS HONOUR THE BEST IN THE INDUSTRY BW BUSINESSWORLD’S GREAT INDIA DEBATE BRINGS TOGETHER INTELLECTUALS ACROSS INDUSTRY SECTORS BW BUSINESSWORLD SMART CITIES CONCLAVE PATNA 2018 SEES EMINENT INDUSTRY LEADERS IN ATTENDANCE EMINENT JURY PICKS WINNERS OF GOLDEN MIKES RADIO ADVERTISING AWARDS MADDYS 2018 SEE TOP ADVERTISING AND MARKETING INDUSTRY LEADERS IN ATTENDANCE

Gaurav Dua, Executive Director, Relaxo Footwears talks to exchange4media about the brand's re-branding, marketing strategy, future plans and much more

The brand through its campaign is helping Indian professionals imbibe the new work-culture while making an effortless style statement at their workplace

In this campaign, the brand MRF tyres intends to communicate their proposition of 'comfort made more comfortable'