Reliance Jio gets licence for pan-India 4G services
11 Oct 2013
The Indian telecom ministry has approved a new telecom licence for the country's only pan-India 4G spectrum holder, Reliance Jio Infocomm Ltd, and has issued letter of intent to the company owned by Mukesh Ambani's Reliance Industries Ltd for taking up the licence.
"The telecom minister (Kapil Sibal) has approved it (Unified Licence for RJIL) and a letter of intent was issued last week," news agency PTI quoted unnamed officials as saying.
The company has now to submit a one-time entry fee of about Rs1,673 crore, a performance bank guarantee of Rs220 crore and a financial bank guarantee of Rs44 crore for procuring the licence.
Reliance Jio (RJIL) had applied for unified licences on 21 August and stated its net worth at Rs5,033.32 crore.
Under the Unified Licence, Reliance, will be able to provide services as a full-fledged mobile operator.
The new telecom licence will pave the way for Mukesh Ambani's second innings in the mobile telephony space after his first stint at Reliance Infocomm, which is now known as Reliance Communications and is controlled by his brother Anil Ambani under a family agreement.
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