Ref: SECTL/2022 - 11 | January 15, 2022 |
BSE Limited | National Stock Exchange of India Limited |
Phiroze Jeejeebhoy Towers, | Exchange Plaza, 5th Floor, Plot No. C/1, G-Block, |
Dalal Street, | Bandra-Kurla Complex, Bandra (East) |
MUMBAI - 400 001 | MUMBAI - 400 051 |
Scrip Code: BSE - 532974 | NSE - BIRLA MONEY |
Dear Sir / Madam, | |
Sub : Intimation under Regulations | 33 and 47 of the SEBI (Listing Obligations and |
Disclosure Requirements) Regulations, 2015.
Pursuant to Regulations 33 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the newspaper advertisements regarding the Unaudited financial results of the Company for the quarter and nine months ended 31st December 2021 published in Business Standard and Jai Hind.
The same shall be uploaded on the Company's website www.adityabirlamoney.com.
This is for your information and record.
Thanking you,
Yours faithfully,
For Aditya Birla Money Limited
SANGEETA MUKESH SHETTY
Digitally signed by
SANGEETA MUKESH SHETTY
Date: 2022.01.15 11:53:19 +05'30'
Sangeeta Shetty Company Secretary
MUMBAI | FRIDAY, 14 JANUARY 2022
TAKE TWO 7
. | < |
VIL's tough future call
The question of what happens if the telco is unable to repay the government in four years remains unanswered
SURAJEET DASGUPTA
New Delhi, 13 January
n | Tuesday, | the | ||||||||||||||
announcement that the | ||||||||||||||||
Ogovernment | had | |||||||||||||||
acquired 35.8 per cent in | ||||||||||||||||
Vodafone-Idea Ltd (VIL) | ||||||||||||||||
sparked off a debate on the | ||||||||||||||||
consequences of | the | move | ||||||||||||||
for the country's troubled | ||||||||||||||||
telecom business. | ||||||||||||||||
This development was the | ||||||||||||||||
result of VIL accepting the one- | ||||||||||||||||
time opportunity offered by the | ||||||||||||||||
government to convert into | ||||||||||||||||
equity the | interest amount | |||||||||||||||
arising on the four-year defer- | ||||||||||||||||
ment on the four-year morato- | ||||||||||||||||
rium on payments for spectrum | VIL'S TWO BIG CHALLENGES | |||||||||||||||
and dues on adjusted gross | ||||||||||||||||
revenue (AGR). | QuarterSub base (in millions) | ARPU (~) | ||||||||||||||
Some analysts and compet- | Q2 FY21 | 119 | ||||||||||||||
271.8 | ||||||||||||||||
ing telcos said VIL has been | ||||||||||||||||
Q3 FY 21 | 269.8 | 121 | ||||||||||||||
given a reprieve that only | ||||||||||||||||
postpones | the | inevitable | Q4 FY 21 | 267.8 | 107 | |||||||||||
private duopoly | in | mobile | Q1 FY 22 | 255.4 | 104 | |||||||||||
telephony. They predict that | ||||||||||||||||
Q2 FY 22 | 253 | 109 | ||||||||||||||
VIL will face a herculean task | ||||||||||||||||
Source: Company | ||||||||||||||||
repayingitsduesoncethemora- | ||||||||||||||||
torium is over. | ||||||||||||||||
If it fails to do so, the govern- | decentupsidetothisbuyaswell. | ernment - judging by its cur- | increasing subscriber churn | |||||||||||||
ment might be forced to take | CLSA estimates that | the | rent mood - has made it clear | with more government control | ||||||||||||
the option available to it to con- | four-year moratorium will lead | that it is not interested in doing | and an eventual merger with | |||||||||||||
vert the due amount pertaining | to a cash flow saving of | so, VIL will be in the hot seat in | BSNL are downsides. | |||||||||||||
to the deferred payment at the | ~80,300 crore for VIL till FY25. | that eventuality. | The other key area is tariff | |||||||||||||
end of the morotorium also into | So it will have more leeway to | To get its house in order in | increases. From VIL's point of | |||||||||||||
equity, increasing its holding | invest (especially as telcos move | four years, VIL needs to do two | view, the good thing is the gov- | |||||||||||||
further. Already | the | single | towards | 5G), | stem | the | keythingsapartfromimproving | ernment'snudgetoalltelcoslast | ||||||||
largest shareholder in VIL - | haemorrhaging of its customer | its operational efficiencies. It | November that saw prepaid tar- | |||||||||||||
post-conversion, Vodafone plc | base (see chart) and move its | needstoraisefreshfundsquick- | iffs rise 20 per cent. Telcos say | |||||||||||||
and Idea together own 46.3 per | 2G | and | 3G | subscribers, | ly and increase tariffs. | they have informally indicated | ||||||||||
cent - the government may | which account for 55 per cent of | The VIL board had cleared a | to the government an overall | |||||||||||||
end up with yet another trou- | its 253 million subscribers, to | ~25,000-crorefund-raisingexer- | 40 per cent increase over 12 to | |||||||||||||
bled telco in addition to BSNL, | 4G (for example, Reliance Jio | cise backinSeptember2020but | 18 months, which precludes the | |||||||||||||
the all-India service provider, | has only 4G customers). That | despitenumerouspromisesand | possibility of a continuing price | |||||||||||||
and MTNL, service provider for | way, it can increase average rev- | deadlines, that is still to happen. | war that brought VIL to its | |||||||||||||
Mumbai and Delhi. | enue | per | sub- | On Wednesday, | knees in the first place. That | |||||||||||
VIL's top management led | scriber /user in a | In four years VIL has | Takkarsaidthegov- | would help VIL's sagging | ||||||||||||
by CEO Ravinder Takkar is con- | month (ARPU). | to not only stop the | ernment's backing | ARPUs, currently the lowest | ||||||||||||
fidentthattheliquidityproblem | However,ana- | has allayed poten- | amongst the private telcos, and | |||||||||||||
tide of losing | ||||||||||||||||
is over. In a video presser on | lysts say that VIL | tial investors' mis- | it meets one of the manage- |
NEWSMAKER / SP MAURYA / MLA
Crossing the bar | take remedial action. Yogi Adityanath was | ||||
propelled centre-stage by the party leader- | |||||
ship at the last national executive where he | |||||
was made to open proceedings, a privilege | |||||
usually reserved for the party president. He | |||||
ADITI PHADNIS | has been given unprecedented positioning | ||||
rightnexttoPrimeMinisterNarendraModi. | |||||
The taxonomy of Swami Prasad Maurya's | All this signals to BJP-minded voters that | ||||
political career is well known: a five-time | their faith in him and the "double-engine" | ||||
MLA and an influential non-Yadav OBC | government is not misplaced. In this | ||||
leader from Uttar Pradesh who has won | scheme of things, Maurya and others of his | ||||
the last three Assembly elections from | ilk are just "turncoats". | ||||
Padrauna in the Kushinagar district of | But Dalit scholar and ideologue | ||||
Uttar Pradesh. | Chandrabhan Prasad doesn't agree. He | ||||
Maurya, 68, began his career as con- | feels Maurya's defection is a sign of a | ||||
vener of the Yuva Lok Dal in 1980s, went | process that is much more pervasive and | ||||
to the Janata Dal and joined the Bahujan | widespread than the BJP realises or con- | ||||
Samaj Party (BSP) in 1996. He won | cedes. "There was a time when OBCs | ||||
Assembly elections on a BSP ticket in 1996 | meant only Yadav and Kurmi. Mayawati | ||||
and eventually became a minister in the | did include some lower OBCs in power | ||||
BJP-supported Mayawati government a | but to a limited extent. BJP gave a big boost | ||||
year later. He was considered second in | to non-Yadav OBCs. Lower OBCs had gone | ||||
command to Mayawati, and stayed in the | across to BJP en masse, on two grounds: | ||||
BSP for two decades. He was a minister | in touch with the BJP to join it or had | first, that the Yadav should go because | |||
twice, leader of the Opposition twice and | sought a ticket. In the run-up to the 2017 | they appropriate everything in the name | |||
president of the party once. In 2016, | elections, the BJP had inducted many lead- | of OBCs; and second, the anti-Muslim | |||
months ahead of 2017 assembly polls, he | ers from the SP, the BSP and the Congress. | polarisation," he said. | |||
joined the Bharatiya Janata Party (BJP). | It gave tickets to more than 50 new party | Now, Prasad contends, people have | |||
He sought and got a nomination for daugh- | members. As many as 12 of them even | tested that. "These guys who are running | |||
ter, Sanghmitra, who has been a BJP MP | became ministers in the state government. | away - whether they ran away from the | |||
since 2019. Now anticipating that someone | Maurya was one such. | BJP or not, that is not important. The | |||
else might be nominated from Padrauna | Consider the context of this election. | important thing is they are running away | |||
instead of him, he has crossed the floor, | If it had been normal times, despite polit- | from all that the BJP stands for. The edu- | |||
joining the Samajwadi Party (SP). The BJP | ical disruptions such as demon- | cated Dalit middle-class is | |||
is maintaining the moral high ground: that | etisation, the BJP would have | also moving away from | |||
he asked for nominations for a host of fam- | rested a bit content: the bene- | BJP is maintaining | the BJP to the SP because | ||
ily members and the party does not believe | ficiaries of various government- | the moral high | it judges that at this junc- | ||
in nepotism so it could not oblige, and he | run schemes are willy-nilly | ground: that | ture it is more important | ||
left the organisation. But the party had no | eager backers of the party and | he asked for | to defeat the BJP than | ||
difficulty in giving his daughter a ticket in | in all states, BJP booth-level | nominations | installing a Dalit CM or | ||
the Lok Sabha election though he was a | workers have corralled this | for a host of | PM," he added | ||
serving minister in the state government. | group to great political benefit. | family members | Prasad hastens to add | ||
End of story? | However, the current UP | that some of the caste | |||
Not quite. | election is taking place against | groups that were the BJP's | |||
Maurya represents the new strain in | the backdrop of a health crisis that, admit- | mainstay continue to be with it. "Thakurs | |||
the BJP. It may be the biggest political party | tedly, no party could have averted. "People | and Vaishyas are still with the BJP. So are | |||
on the planet. But not all of its members | are not blaming the BJP for Covid-19. But | Kurmis, Gujjar and Lodh castes - these | |||
are true-bluesigned-up Rashtriya | they are angry at their reduced circum- | are 100 per cent with the BJP still." But he | |||
Swayamsevak Sangh (RSS)-BJP and have | stances: loss of jobs, livelihood and lack of | has an interesting analogy. He says in the | |||
come to it from other parties. Home | access to basic amenities like hospital beds | UP election, "Hindutva has become like | |||
Minister Amit Shah made it a point to high- | and oxygen. No one has forgotten those | 'Dalda', the iconic ghee brand that lost | |||
light this when he commented with a chor- | dark days," said a professor at a major cen- | market share and became extinct because | |||
tle during the Maharashtra Assembly elec- | tral university who did want to be identi- | of a rumour, so much so that even | |||
tion campaign that everyone in every | fied. "There is a vast pool of the silent voter | Hindustan Lever could not revive it". He | |||
political party barring former Congress | in UP who must not, cannot, be ignored". | says: "I see Maurya's exit as a part of a | |||
chief minister Prithviraj Chavan had been | Recognising this, the party has tried to | process - not a one-off defection". |
Wednesday, he downplayed the | will find it diffi- | subscribers but | givings and a deal is | ment's persistent demands. |
also increase its | ||||
prospect of government inter- | cult to pay its lia- | expected soon. | As for VIL's competitors, | |
ARPU by about | ||||
ference or the possibility of a | bilities of around | The big ques- | they appear to have received the | |
three times from | ||||
board seat for the new share- | ~159,000 crore to | the current ~109 | tion, of course, is | clear message that the govern- |
holder. Aditya Birla group and | the government | whether prospec- | mentwantsatleastthreeplayers | |
Vodafoneplcwillremainincon- | after the morato- | tive investors see | in mobile telephony. The gov- |
India'snewCovidrulesaimto freeupresourcesbutcarryrisks
better to monitor the numbers of those in hospital, rather than infections, while targeting crowded spaces such as workplaces, dormitories etc with rapid testing.
trol, he assured a sceptical | rium, which include spectrum | value in having the government | ernment's shareholding doesn't | ||
media. VIL's losses rose from | dues of ~108,000 crore and AGR | as the largest single shareholder | worry them either. They believe | ||
~6,985 crore in Q4 FY2021 to | dues of ~50,400 crore, until its | and the two promoters diluting | that will continue to nibble at | ||
~7,144 crore in Q2 FY2022. In the | cash flows improve substantial- their stake substantially from 72 | VIL's market share, more so | |||
same period, revenues shrank | ly. They agree that the company | to 46 per cent. | once 5G services are launched. | ||
from~9,607croreto~9,406crore. | would need an ARPU of | Citibank and Credit Suisse | Still, it is worth wondering | ||
The | Department | of | ~280-300 to achieve cash | suggest that investors may view | what the government will do if |
Telecommunications | (DoT) | breakeven. In other words, in | these developments favourably | VILisn'toutofthewoodsinfour | |
backed Takkar, emphasising | four years VIL has to not only | if the government involvement | years, not least because reviving | ||
that VIL would not be consid- | stop the tide of losing sub- | weretoimplyamoresupportive | BSNL and MTNL remain huge | ||
ered a public sector company | scribers but also increase its | policy environment. Banks, too, | challenges. A ~750-crore revival | ||
butrunprofessionallyandinde- | ARPUbyaboutthreetimesfrom | willbemorereadytorestructure | package has been finalised but | ||
pendently. DoT underlined the | the current ~109. | its loans with the government | BSNL's inordinate delay in | ||
intention behind the move: To | The point here is that if VIL | backing the company. The gov- | launching 4G services, which | ||
providetheindustrysomerelief. | is unable to repay the interest | ernment's stake could also get | looks possible only by the end | ||
It would sell its VIL stake at an | on its spectrum dues, the | dilutedandtherecouldbeapos- | of this year when competitors | ||
"appropriate time". VIL shares | government can move towards | sibility of it selling part of it to | will be offering 5G, suggests that | ||
were converted at par; if the | converting those dues into | the prospective investor. | it's also the government that's | ||
share price goes up, there is a | more equity. Though the gov- | Equally, the possibility of | taking a tough call on VIL. |
KRISHNA N DAS
New Delhi, 13 January
India has eased its Covid rules on testing, quarantine and hospital admissions in a bid to free up resources for its neediest people, a strategy hailed by experts even though it carries the risk of a heavy undercount of infections and deaths.
The moves will offer a breathing space for healthcare facilities, often overstretched in a far-flung nation of
1.4 billion, as they battle a 33- fold surge in infections over the past month. This week, federal authorities told states to drop
mandatory testing for contacts of confirmed cases unless they were old or battling other con- ditions, while halving the isola-
tion period to a week and advising hospital care only for the seriously ill.
"Contact-tracing has been the most resource-intensive activity since the pandemic began," said Sanjay K Rai, a professor of community medicine at AIIMS, New Delhi.
"That strategy did not work and wasted resources," he added, saying serological surveys had shown it had detected only a fraction of infections. "The new one will ensure optimum utilisation of what we have got."
Four Indian epidemiologists echoed Rai's view, saying it was
They added that the guidelines on shorter isolation and hospital admissions were in line with global practice.
But some experts say the new rules could lull people into taking infections lightly until it is too late, especially in the rural areas, home to two-thirds of the population, where few seek tests unless directed by authorities.
"This new strategy will affect data from rural India or certain states in a disproportionate way," said Bhramar Mukherjee, an epidemiology professor at the University of Michigan.
REUTERS
POSTAL BALLOT NOTICE AND E-VOTING INFORMATION
NOTICE is hereby given that the Company is seeking approval of its Members by way of a special resolution for buyback of up to 4,00,00,000 fully paid-up equity shares of face value of `1 each, representing 1.08% of the total issued and paid-up equity share capital, at a price of `4,500 per equity share payable in cash for an aggregate consideration not exceeding `18,000 crore (excluding transaction costs, applicable taxes and other incidental and related expenses), on proportionate basis, through Tender Offer route through Stock Exchange mechanism, approved by the Board of Directors of the Company at its meeting held on Wednesday, January 12, 2022.
This buy-back is in accordance with the provisions of the Companies Act, 2013 and rules framed thereunder, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended from time to time, read with SEBI Circular CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 read with Circular CFD/DCR2/CIR/P/2016/131 dated December 9, 2016 and Circular SEBI/HO/CFD/DCR-III/CIR/P/2021/615 dated August 13, 2021, as set out in the Postal Ballot Notice dated January 12, 2022.
The postal ballot notice is available on the Company's website https://on.tcs.com/Notice-Postal-Ballot-2022, website of National Securities Depository Limited (NSDL) https://www.evoting.nsdl.comand the website of the stock exchanges where the equity shares of the Company are listed i.e. BSE Limited (BSE) (www.bseindia.com) and National Stock Exchange of India Limited (NSE) (www.nseindia.com).
In compliance with the General Circular No. 14/2020 dated April 8, 2020, General Circular No. 17/2020 dated April 13, 2020, General Circular No. 22/2020 dated June 15, 2020, General Circular No. 33/2020 dated September 28, 2020, General Circular No. 39/2020 dated December 31, 2020, General Circular No. 10/2021 dated June 23, 2021 and General Circular No. 20/2021 dated December 8, 2021 issued by the Ministry of Corporate Affairs, the Company has sent the postal ballot notice on January 13, 2022 only through electronic mode to those Members whose e-mail addresses are registered with the Company/Depositories and whose names are recorded in the Register of Members of the Company or in the Register of Beneficial Owners maintained by the Depositories as on Wednesday, January 12, 2022 ("Cut-offdate").
The Company has engaged the services of NSDL to provide remote e-voting facility to its Members. The remote e-voting period commences from 9.00 a.m. (IST) on Friday, January 14, 2022 and ends at 5.00 p.m. (IST) on Saturday, February 12, 2022. The e-voting module shall be disabled by NSDL thereafter. Voting rights of the Members shall be in proportion to the shares held by them in the paid-up equity share capital of the Company as on Cut-off date. Communication of assent or dissent of the Members would take place only through the remote e-voting system. Only those Members whose names are recorded in the Register of Members of the Company or in the Register of Beneficial Owners maintained by the Depositories as on the Cut-off date will be entitled to cast their votes by remote e-voting. Once the vote on the resolution is cast by the Member, he/she shall not be allowed to change it subsequently.
The Members whose e-mail address is not registered with the Company/Depositories, to receive the postal ballot notice may register on or before 5:00 p.m. (IST) on Saturday, February 5, 2022 by clicking the link: https://tcpl.linkintime.co.in/EmailReg/email_registerand completing the registration process as guided therein.
For details relating to e-voting, please refer to the postal ballot notice. In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual for Shareholders available at the download section of https://www.evoting.nsdl.com. For any grievances connected with facility for voting by electronic means, please contact Ms. Pallavi Mhatre, Manager, NSDL, Email: evoting@nsdl.co.in, toll free no.: 1800 1020 990 /1800 224 430.
The Board of Directors of the Company has appointed Mr. P. N. Parikh (Membership No. FCS 327) and failing him Ms. Jigyasa Ved (Membership No. FCS 6488) of Parikh & Associates, Practising Company Secretaries, as the Scrutinizer to conduct the postal ballot through remote e-voting process in a fair and transparent manner.
The result of the postal ballot will be announced at or before 5:00 p.m. (IST), Tuesday, February 15, 2022. The said results along with the Scrutinizer's Report would be intimated to BSE and NSE and will also be uploaded on the Company's website https://www.tcs.com/events/tcs-buyback-2022and on the website of NSDL www.evoting.nsdl.com.
For TATA CONSULTANCY SERVICES LIMITED
Sd/-
Pradeep Manohar Gaitonde
Company Secretary
Place : Mumbai
Date : January 13, 2022
Registered Office:
9th Floor, Nirmal Building, Nariman Point, Mumbai 400 021. Tel: 91 22 6778 9595 Fax: 91 22 6778 9660
Email: investor.relations@tcs.comWebsite: www.tcs.com
Corporate Identity Number (CIN): L22210MH1995PLC084781
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Aditya Birla Money Ltd. published this content on 15 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 January 2022 07:54:01 UTC.