September 02, 2020
The Manager ‐ Listing Department The Manager ‐ Listing Department National Stock Exchange of India Limited BSE Limited Bandra Kurla Complex 1st Floor, P. J. Towers, Bandra (E) Dalal Street, Mumbai 400051 Mumbai 400001 NSE Scrip Code: IDFC BSE Scrip Code: 532659
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Sub: Newspaper publication ‐ Notice of 23rd Annual General Meeting (AGM), E‐ voting information
Please find enclosed copies of the Advertisement published on September 2, 2020 in the 'Hindu Business Line' (All India Edition) and 'Makkal Kural' (Chennai Edition) Newspapers intimating about dispatch of Notice of AGM & Annual Report and Remote e‐voting, in compliance with the applicable provisions of the Companies Act, 2013 read with applicable rules and Secretarial Standard‐ 2 issued by the Institute of Company Secretaries of India.
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CHENNAI BusinessLine 2 NEWS WEDNESDAY • SEPTEMBER 2 • 2020
GMR plans to consolidate airports business 10 YEARS TO PAY AGR DUES Will it be enough to keep Voda Idea afloat? Eyes selective divestment of other assets; ZY the pandemic, we have con- been signed and partial con- sidered postponing parts of sideration received. Telecom operator what it was in FY17. Market may tread cautiously on expansion plans planned capital expenditure On the highways, it plans share shifts continued towards to subsequent periods,” Rao to pare its debt following a will have to hike Reliance Jio and Bharti Airtel VRISHI KUMAR we believe that in spite of the informed shareholders. favourable judgment in an tariffs, bring with both operators gaining Hyderabad, September 1 ongoing turbulence, the air- The airports in India were arbitration claim on Hydera- 470 basis points (bps) and 200 The GMR Group, which has port business has huge un- witness to a strong growth bad-Vijayawada and Chennai new investor bps market share versus their recently announced demer- derlying strength and will momentum, which was dis- ORR4. The monetisation to FY20 levels to 38 per cent and 33 ger of its airports business continue to be the growth rupted due to Covid, neces- gain momentum post arbit- RAJESH KURUP percent, respectively.Vodafone and other verticals, plans to engine for the Group. The sitating caution in capex ration claim settlement. THOMASK THOMAS Idea’s revenue market share consolidate its airports busi- fundamental long-term spend. Mumbai, September 1 losses are no longer just being The Supreme Court’s decision Vodafone Idea has to pay driven by its weaker markets. ness while eyeing selective growth drivers for the Indian “The fundamental Coal assets to allow 10 years to pay AGR ₹53,000 crore to the Centre During Q1, 60 per cent of Voda- divestment opportunities in economy and aviation sector long-term growth drivers Energy segment With regard to its coal assets, dues will prevent Vodafone which means it will have to fone Idea’s 5.8 percentage the power segment, includ- remain intact and strong. We for the economy and In the energy sector, in line it plans to re-start the pro- Idea from shutting down im- fork out over ₹5,000 crore a point (ppt) market share loss ing its barge-mounted pro- are actively pursuing suit- aviation sector remain with the effort towards li- cess of divestment once coal mediately, but it will have to do year just to pay past AGR dues came from its top-3 markets ject, highways and coal, to able airport opportunities in intact and strong.” quidity enhancement and prices stabilise. monetise some assets. India as well as globally,” GM debt reduction, it managed The company also sees po- multiple things to stay alive in that form 35 per cent of its rev- GM RAO, ahighly competitive telecom balance sheet, would focus on enues. Given the tough business Rao Chairman, GMR Group, Chairman, GMR Group to execute the debt resolu- tential to monetise its vari- environment due to Covid, said in the company annual YZ tion plan for GMR Rajahmun- ous land assets at the air- market. delivering better customer ex- According to Kapoor, Voda- GMR’s focus is on reducing report. dry Energy Limited and con- ports and also its assets in Vodafone Idea has to pay perience instead of competing fone Idea could also sell equity debt and improving cash The company operates In- pansion, which has been well cluded divestment of GMR strategic industrial locations ₹53,000 crore to the Centre, on pricing,” said Sanjay Ka- stake to a financially strong in- flow and profitability. dira Gandhi International funded, is insulated in the Chhattisgarh Energy Lim- —GMR Krishnagiri Special In- which means it will have to poor, former CEO of Airtel. vestor. “There could be in- Airport at Delhi, Rajiv Gandhi near term from the disrup- ited. The gas-based assets of vestment Region and Kakin- fork out over ₹5,000 crore a vestors interested in putting Strong growth drivers International Airport at Hy- tions caused by the pan- the company are well suited ada SEZ Limited to benefit year just to pay past AGR dues. Material impact money into Vodafone Idea After its first quarter num- derabad in India and Mactan demic. “Further, to ensure ju- for round-the-clock clean en- from manufacturing disloca- In addition, the operator will With the AGR outflows likely to given that the company has a bers and ahead of its 24th An- Cebu International Airport dicious use of funds during ergy by bundling with re- tion from China. It has a pool have to fund its current pay- have a material impact on lot of value,” Kapoor said. nual General Meeting, the in the Philippines. It has two the pandemic, we continue newable which has received of about 10,500 acre that has ments towards licence fees, cashflows of telcos, analysts at Sonam Chandwani, Man- company management, assets under development — to look at partially reschedul- government focus recently. significant potential to un- spectrum usage charges, be- Jefferies equity research expect aging Partner at KS Legal & As- through its Investors Greenfield Airport at Mopa, ing future capital expendit- According to the company, lock large latent value. sides capital expenditure to- aminimum 10 per cent tariff sociates, said: “Payment tenure Presentation, and the Group Goa and Crete International ure,” he said. the cash flow from thermal During the AGM slated to wards network roll out. The op- hike in the near term. “Assum- of 10 years would pose as a Chairman GM Rao, in his ad- Airport in Greece where it is For the Delhi airport, GMR assets is sufficient to service be held on September 21, it erator’s balance sheet will be ing an incremental EBITDA grave challenge for debt-rid- dress to shareholders, indic- being executed with Greek had raised $350 million from debt, there are strong pro- plans to seek shareholders highly leveraged to make fresh margin of 65 per cent, to com- den Vodafone Idea as the repay- ated how its airports busi- partner TERNA Group. It has overseas bond of 10 years spects for divestment of nod for an enabling resolu- investments into network roll- pletely offset the impact of AGR ment of such expenditure ness, with major also bagged few other air- tenor and followed it up by thermal assets given im- tion to raise up to ₹5,000 out or acquiring fresh spec- dues, Bharti Airtel will have to would require higher tariffs, investments, is well poised port projects that include raising additional $150 mil- proved performance. And for crore in one or more tranche trum. increase ARPUs by 10 per cent cost savings, and an equity cap- for the next phase of growth. Bhogapuram and Bidar. lion. “However, to ensure the monetisation of Barge (s), through issue of It is expected that the Centre and Vodafone Idea by 27 per ital infusion. Also, most finan- “In line with our strategy, The Hyderabad airport ex- prudent use of funds during Plant, an agreement has securities. will hold 5G spectrum auction cent,” analysts at Jefferies said. cial institutions are likely to re- sometime next year and, going Other analysts said that to frain from lending large by the existing reserve price for get to cash flow breakeven amounts of money to VIL.” the airwaves, Vodafone Idea through price increases re- The impact of the apex court may find it difficult to particip- quires Vodafone Idea to triple order on other telecom operat- Brookfield completes RJio telcom tower assets buy ate in a bidding process in view its EBITDA. To achieve this ors will be less critical. Bharti of the already large debt on its through price alone would re- Airtel will have to pay ₹2,600 books. quire an average revenue per crore upfront and an annual To invest $600 million; gains access to by fibre backhaul. Jio is an an- for 2020,” said Sam Pollock, ner and Head of India and the user of ₹275 compared to ₹114 payment of ₹3,500 crore. Reli- chor tenant of the business Chief Executive Officer of Middle East for Brookfield. Ringing in tougher times now. “This would require com- ance Jio being a new player has 1.3 lakh newly-built telecom towers under a 30-year master ser- Brookfield Infrastructure. “We are looking forward to “The Supreme Court order plete focus on execution. Cus- to pay just about ₹200 crore, vices agreement, providing a “The acquisition of this large- continuing to work alongside means that Vodafone Idea will tomer experience and services which it has already deposited. OUR BUREAU lion. Brookfield has acquired secure, long-term source of scale, high-quality telecom Reliance, which has estab- not die now but if it wants to will haveto bethe prime driver. The Supreme Court has asked Mumbai, September 1 135,000 recently constructed revenue and incremental tower business significantly lished itself as a leading tele- survive in the long term, it will Vodafone Idea could stop servi- NCLT to take a decision on the Brookfield Infrastructure communication towers that business plan tower build-out expands and diversifies our com and technology com- have to increase tariffs imme- cing low paying customers al- companies which under in- Partners LP has completed the form the infrastructure back- to drive growth that is expec- data infrastructure segment pany in India. The recent diately. No where in the world together even if that means los- solvency. The key question here acquisition of Reliance Jio’s bone of RJio’s telecom ted to bring the portfolio to and competitively positions investments by leading global you would get 15-16 GB data for ing subscriber market share,” is whether spectrum owned by telecom tower assets. Brook- business. 175,000 towers in the near us in India’s growing data technology companies and just $2 a month. This will have said an industry expert. these companies can be sold field and its institutional part- “This portfolio provides a term,” Brookfield said in a industry.” private equity investors in Jio to increase to at least $7 a Vodafone Idea’s revenue through the insolvency pro- ners are making an equity in- well-placed platform to capit- statement. “We are confident about the are further testimony to the month. Airtel has already said market share has dipped cess. This could have an impact vestment of approximately alise on the rollout of 5G “We are pleased to have long-term prospects for data platform Reliance has built it wants to increase tariffs and sharply to 21 per cent during on Reliance Jio depending on $3.4 billion, of which Brook- across the country, as the closed this transaction, which sector growth in India,” said and its strength as our anchor Reliance Jio, with a zero debt the June quarter, nearly half of how the NCLT views the issue. field is investing $600 mil- towers are largely connected was one of our top priorities Anuj Ranjan, Managing Part- tenant. Bharti Infratel to go ahead with To boost output, Coal India Indus Tower merger plans to invest ₹1.22-lakh cr OUR BUREAU New Delhi, September 1 Telecom infrastructure pro- To spend on projects related to ture; ₹29,461 crore on project development; viderBharti Infratelon Tuesday ₹32,199 crore on diversification and clean coal said it will proceed with its evacuation, infrastructure, technologies; ₹1,495 crore on social infrastruc- merger with Indus Tower, for exploration and clean coal tech ture and ₹1,893 crore on exploration works by which the cash consideration 2023-24, the statement said. comes to around ₹4,000 crore. OUR BUREAU “To increase coal output and reduce import "After deliberations, the New Delhi, September 1 dependency of coal in the ensuing years, Coal board has decided to authorise Coal India Limited (CIL) plans to invest over India has identified a total of 15 greenfield pro- the chairman to proceed with ₹1.22-lakh crore on projects related to coal jects to operate through Mine Developer and the scheme (of arrangement) evacuation, infrastructure, project develop- Operator (MDO) model that would entail a and to comply with other pro- ment, exploration and clean coal technologies. total investment plan of about ₹34,600 crore, cedural requirements for com- This is being done to produce one billion of which the likely investment ending finan- pletion of the merger includ- tonnes of coal by 2023-24. cial year 2024 is about ing approaching the NCLT Addressing a stakeholders’ meet organised ₹17,000 crore. Evacuation in- (National Company Law by CIL through video-conferencing, Minister of frastructure is another ma- Tribunal) to make the scheme Coal and Mines Pralhad Joshi said, “Engage- jor area where Coal India effective subject to certain pro- ment and involvement of all concerned stake- will be infusing large sums cedural condition precedents,” holders in company’s affairs will reduce and of money into economy,” the Bharti Infratel said in a stock uncover the project risks. Such two-way inter- statement said. filing. actions help pave way for mutually-beneficial Investments in rail logist- The scheme will become ef- newer ideas, improvement areas and project ics like developing major fective on the date on which related expectations.” railways (about ₹13,000 the certified copy of the order Joshi said the company would be investing crore) railway sidings (about of NCLT is filed with the Regis- around ₹14,200 crore by 2023-24, in two phases ₹3,100 crore) and procure- trar of Companies, it said. for its 49 first mile connectivity projects — ment of own wagons (₹675 Based on the adjustments re- transportation of coal from pitheads to dis- crore) would total up to flecting current facts and cir- patch points. An official statement said this is likely investment of over cumstances, the likely share- being done to bring in improved efficiency in ₹16,500 crore by fiscal 2023- holding structure in the coal transport and to undertake computer- 24, the statement added. merged company could be — aided loading replacing the existing road Joshi also said that Coal In- Vodafone 28.2 per cent and transport between the two points. dia and its subsidiaries are private equity firm Providence engaged in procurement of 3.2 per cent; total for Indus Investment plan various types of goods, share swap 31.4 per cent and Out of the proposed spend of over ₹1.22-lakh works and services amount- current Infratel shareholders crore, CIL plans to invest ₹32,696 crore on coal ing to approximately 68.6 per cent. evacuation; ₹25,117 crore on mine infrastruc- ₹30,000 crore per year. Infosys to hire more American workers in next two years
OUR BUREAU Bengaluru, September 1 Infosys said it plans to hire 12,000 American workers over the next two years, bringing its hiring commitment in the country to 25,000 over five years. In 2017, Infosys committed to hiring 10,000 American work- ers over two years and has ex- ceeded that goal by creating 13,000 jobs in the US to date. Through this expanded com- mitment,Infosyswillhireanad- ditional 12,000 workers by 2022 across a variety of roles, a state- ment from the company said. The company will target ex- perienced technology profes- sionals as well as recent gradu- ates from major universities, liberal arts colleges, and com- munitycolleges. Utilising the training and reskilling programmes it has built with partners, including the recently-launched Reskill and Restart initiative, Infosys will prepare workers for 21st- centurycareers.
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