Pradipta Mukherjee / Kolkata April 10, 2008
Reliance HR Services (RHRS), a human resources company formed by the Reliance Anil Dhirubhai Ambani Group (ADAG), will recruit half a million people for the group in the next four years.
These recruits will be deputed to Reliance Communications, Reliance Webstores, Reliance Capital, Reliance Consumer Finance, Reliance Money, Reliance Life Insurance and Reliance Energy.
About 90 per cent of these employees will be on sales functions, while the rest will be on the back-end and customer service functions.
Amitava Ghosh, CEO, RHRS, said, “Currently, about 20,000 employees are on RHRS payroll, serving various ADAG companies.”
RHRS has also formulated a plan for the five forthcoming financial years to become a global HR outsourcing and consultancy organisation.
“By 2013, RHRS will evolve into an end-to-end HR outsourcing provider and an HR consultant,” Ghosh said. By 2009, RHRS plans to offer HR outsourcing services.
“We can offer HR outsourcing services to companies that operate in sectors such as retail, IT BPO, among others,” Ghosh said.
RHRS also plans to offer consultancy services, including compensation surveys and feedback reports.
To recruit a sizeable number of people, RHRS is planning a series of job fairs in the country. Guwahati has been selected as a pilot location.
The company will recruit freshers, who will be paid Rs 7,000 to Rs 12,000 a month, depending on the cost of living of the city.
Wednesday, April 9, 2008
Tuesday, March 25, 2008
Anil Ambani eyes video rental business
The Reliance Anil Dhirubhai Ambani Group (R-ADAG) has chalked out a roadmap for its online and offline video rental business - BigFlicks - which works on the lines of the US video rental distribution network - Blockbuster.
The group plans to raise the number of such stores to 500 across 35-40 cities by April 2009 from the current 22 stores in 6 cities.
The retail video service had a soft launch last year following the video-on-demand portal BigFlicks' launch in August 2007. Currently, 22 such rental stores are in Mumbai, Delhi, Pune, Hyderabad, Chandigarh and Bangalore.
By mid-April, the company intends to set up 28 additional stores in four more cities including Indore, Ahmedabad, Kolkata and Chennai.
"This apart, Reliance World outlets will house around 75 shop-in-shop format stores and the remaining 375 stores will be opened through the franchise model," said Kamal Gianchandani, COO, home entertainment, Reliance Entertainment.
He added that the franchise model was still being worked out for a likely start in May. During the launch of BigFlicks last year, the company said that Reliance- ADAG would invest around $100 million in the next 3 years.
Gianchandani added that almost 40 per cent of the proposed investment has already been done since August last.
Customers have two choices, opting either for a subscription model or paying as they walk in a store. The price points for the second choice range between Rs 40 and Rs 80 per DVD/ VCD, depending on the language.
The subscription model, which contributes almost 95 per cent to the business, has three monthly unlimited DVDs plans of Rs 250 (for one DVD, which means a customer can take only one DVD at a time), Rs 400 (two DVDs) and Rs 500 (three DVDs), respectively.
The home entertainment company also offers an online, complimentary mail order service. "With this venture, our vision is to build a scalable business model that brings entertainment to all types of customers and homes through a multi-channel distribution platform - broadband, internet, home delivery and retail," said Gianchandani.
Meanwhile, the online video-on-demand portal bigflicks.com has witnessed over 10 lakh visitors. The portal has around 1,000 movie titles in Hindi, English, Bangla, Bhojpuri, Kannada, Tamil, among others. Eyeing the diaspora, bigflicks.com covers over 100 countries.
NRIs can either download a film on rent (45 days) or buy it for $2.5-10.
The group plans to raise the number of such stores to 500 across 35-40 cities by April 2009 from the current 22 stores in 6 cities.
The retail video service had a soft launch last year following the video-on-demand portal BigFlicks' launch in August 2007. Currently, 22 such rental stores are in Mumbai, Delhi, Pune, Hyderabad, Chandigarh and Bangalore.
By mid-April, the company intends to set up 28 additional stores in four more cities including Indore, Ahmedabad, Kolkata and Chennai.
"This apart, Reliance World outlets will house around 75 shop-in-shop format stores and the remaining 375 stores will be opened through the franchise model," said Kamal Gianchandani, COO, home entertainment, Reliance Entertainment.
He added that the franchise model was still being worked out for a likely start in May. During the launch of BigFlicks last year, the company said that Reliance- ADAG would invest around $100 million in the next 3 years.
Gianchandani added that almost 40 per cent of the proposed investment has already been done since August last.
Customers have two choices, opting either for a subscription model or paying as they walk in a store. The price points for the second choice range between Rs 40 and Rs 80 per DVD/ VCD, depending on the language.
The subscription model, which contributes almost 95 per cent to the business, has three monthly unlimited DVDs plans of Rs 250 (for one DVD, which means a customer can take only one DVD at a time), Rs 400 (two DVDs) and Rs 500 (three DVDs), respectively.
The home entertainment company also offers an online, complimentary mail order service. "With this venture, our vision is to build a scalable business model that brings entertainment to all types of customers and homes through a multi-channel distribution platform - broadband, internet, home delivery and retail," said Gianchandani.
Meanwhile, the online video-on-demand portal bigflicks.com has witnessed over 10 lakh visitors. The portal has around 1,000 movie titles in Hindi, English, Bangla, Bhojpuri, Kannada, Tamil, among others. Eyeing the diaspora, bigflicks.com covers over 100 countries.
NRIs can either download a film on rent (45 days) or buy it for $2.5-10.
Reliance Energy Gains Most in Two Months on Buyback
March 25 (Bloomberg) -- Reliance Energy Ltd., India's third-biggest utility, rose the most in two months after starting a buyback of shares today.
The shares gained as much as 169.1 rupees, or 15 percent, to 1,320 rupees on the Bombay Stock Exchange. The start of the offer was postponed from March 17, the Mumbai-based company said in a filing to the exchange yesterday, without explaining.
Reliance Energy, India's best-performing benchmark company last year, approved the buyback after shares in the group slumped this year. Chairman Anil Ambani last month offered free shares to investors in his generating business, Reliance Power Ltd., after the stock slumped 17 percent on listing.
Reliance Energy plans to spend 20 billion rupees ($499 million) on the buyback at a maximum price of 1,600 rupees apiece. The price represents ``a premium of over 30 percent to the low of 1,225 rupees recorded during the calendar year 2008 and a premium of approximately 10 percent to the closing share price on the date of the board meeting,'' the company said on March 5.
The last date of the offer is March 4. The buyback, aimed at reducing ``short-term volatility'' and deterring ``speculative activity,'' will be done in two phases, with 12 billion rupees being spent in the second phase, the company said.
Reliance Power plans to issue three shares for every five held. The free shares won't be given to Ambani and the founder group, including Reliance Energy, which hold a combined 90 percent stake.
Share Gains
Reliance Energy gained 149.25 rupees, or 13 percent, at 1,300.15 rupees at the 3:30 p.m. local time close, its biggest advance since Jan. 23. The exchange's 30-share, benchmark Sensitive Index gained 6.1 percent to 16,217.49 points. Reliance Power rose 13.05, or 4.3 percent, to 319.55 rupees.
The company plans to change its name to Reliance Infrastructure Ltd. to reflect the current nature of its businesses. The power producer is working on construction contracts worth 80 billion rupees, including a metro rail and a bridge in Mumbai and a 100-storey office tower in the southern city of Hyderabad, the company said on March 10.
To contact the reporter on this story: Manash Goswami in New Delhi at mgoswami@bloomberg.net.
The shares gained as much as 169.1 rupees, or 15 percent, to 1,320 rupees on the Bombay Stock Exchange. The start of the offer was postponed from March 17, the Mumbai-based company said in a filing to the exchange yesterday, without explaining.
Reliance Energy, India's best-performing benchmark company last year, approved the buyback after shares in the group slumped this year. Chairman Anil Ambani last month offered free shares to investors in his generating business, Reliance Power Ltd., after the stock slumped 17 percent on listing.
Reliance Energy plans to spend 20 billion rupees ($499 million) on the buyback at a maximum price of 1,600 rupees apiece. The price represents ``a premium of over 30 percent to the low of 1,225 rupees recorded during the calendar year 2008 and a premium of approximately 10 percent to the closing share price on the date of the board meeting,'' the company said on March 5.
The last date of the offer is March 4. The buyback, aimed at reducing ``short-term volatility'' and deterring ``speculative activity,'' will be done in two phases, with 12 billion rupees being spent in the second phase, the company said.
Reliance Power plans to issue three shares for every five held. The free shares won't be given to Ambani and the founder group, including Reliance Energy, which hold a combined 90 percent stake.
Share Gains
Reliance Energy gained 149.25 rupees, or 13 percent, at 1,300.15 rupees at the 3:30 p.m. local time close, its biggest advance since Jan. 23. The exchange's 30-share, benchmark Sensitive Index gained 6.1 percent to 16,217.49 points. Reliance Power rose 13.05, or 4.3 percent, to 319.55 rupees.
The company plans to change its name to Reliance Infrastructure Ltd. to reflect the current nature of its businesses. The power producer is working on construction contracts worth 80 billion rupees, including a metro rail and a bridge in Mumbai and a 100-storey office tower in the southern city of Hyderabad, the company said on March 10.
To contact the reporter on this story: Manash Goswami in New Delhi at mgoswami@bloomberg.net.
Tuesday, March 11, 2008
RComm announces unique ESOPs for over 20,000 employees
The ESOS Compensation Committee of the Board of Directors of the Company approved grant of 175,00,000 (17.5mn) Options to the eligible employees based on specified criteria
Reliance Communications Ltd on March 09, 2008 has announced a first of its kind and unique Employee Stock Options Scheme in order to share the growth in value and reward its employees for having participated in the unprecedented success of the Company. The initiative in line with the Groups policy to create value for stakeholders — external and internal, the Employee Stock option scheme would cover over 20,000 employees of Reliance Communications, and its subsidiaries, making it the largest ESOP rollout by any Indian Telecom Service Provider.
The ESOS Compensation Committee of the Board of Directors of the Company approved grant of 175,00,000 (17.5mn) Options to the eligible employees based on specified criteria. "Our Group Founder, and Visionary, Late Dhirubhai Ambani always believed that knowledge resides in people, and accordingly always build the growth plans of Reliance around people", said Anil Dhirubhai Ambani, Chairman - Reliance Communications.
"The Employee Stock Option Scheme truly recognizes the efforts of our employees and aims to reward them for contributing towards the transformation of Reliance Communications as the most profitable Indian Telecom Enterprise, and among Asia's Top 5 Most Valuable Companies within a short span of two years", he added. The Company has undergone extensive research based on intricate scientific models to formulate an innovative 3-Tier Model that would consider multiple parameters to derive at number of options to be granted to every individual employee.
The Three-Tier Model, incorporating global best practices, would consider multiple parameters including number of years in the Company, Role, Contribution, Experience amongst others while categorization under: - Founder's Club, Pioneer's Club, Growth Club
Each option would be exercisable into equal number of fully paid-up equity shares of Reliance Communications. The Options will vest at the end of one year from the date of grant and shall be eligible for exercise up to a period of nine years from the date of vesting as prescribed in the Exercise Schedule of the respective Plan(s). The Shareholders of Reliance Communications had passed the resolution of grant of securities under the ESOS scheme last year. An ESOS Committee of Independent Directors of the Board was constituted to administer the ESOS.
India Infoline News Service / Mumbai Mar 10, 2008 09:32
Wednesday, March 5, 2008
Reliance Energy plans $500 mln share buyback
MUMBAI (Reuters) - Reliance Energy Ltd on Wednesday said it would buy back up to $500 million worth of shares at a premium of up to 9.6 percent to the market price, which it said would counter a perceived undervaluation.
Reliance Energy, part of the Anil Dhirubhai Ambani Group (ADAG), said after market hours it would pay up to 1,600 rupees per share in the two-tranche buy-back, which it said should reduce volatility of the share price.
"It is a good price. But it might not have a significant impact on the stock price as the current market outlook is not good," said Amitabh Chakraborty, president of equities at Religare Securities.
Ahead of the news, shares in Reliance Energy closed 3 percent lower at 1,459.45 rupees on Wednesday.
The company said in a statement it would spend 8 billion rupees ($200 million) in the first phase and 12 billion rupees in the second phase for the buy-back.
At 1,600 rupees each, that would equal 12.5 million shares in total. Reliance Energy has 236.5 million shares on issue, according to the Bombay Stock Exchange.
Reliance Energy said the offer reflected management confidence in the company, and sent a strong signal to markets on the share's perceived undervaluation.
Reliance Energy, valued at about $9 billion, was the top performer in India's main stock index in 2007, when its share price quadrupled.
But its shares have fallen 31.6 percent so far this year, more than the BSE index's 18.5 percent drop, and are down 44.5 percent from a record high of 2,631.70 rupees hit on Jan 10.
Anil Ambani, his family members and investment firms together hold 34.68 percent in Reliance Energy, according to data from the Bombay Stock Exchange.
Analysts had said the buy-back might have been aimed at restoring some shine to ADAG companies, after a dismal stock market debut of the much-hyped Reliance Power Ltd last month, as it awaits approval to list another unit.
"And any IPO performance depends on the timing and the market conditions that time," Chakraborty said.
Reliance Power tanked on debut, a huge disappointment to investors after a frenzy to be part of India's biggest initial public offering which saw the $3 billion issue fully subscribed in less than one minute.
To appease investors, Ambani announced a special bonus issue for Reliance Power shareholders other than the founders, which include Reliance Energy.
Reliance Power's shares, which had fallen by a quarter in a few days after listing, climbed back to the IPO price of 450 rupees, but the stock has again fallen and closed at 376.25.
Reliance Energy, which has transferred its future power projects to Reliance Power, trades at about 38 times its one year forecast earnings, against 20 times for NTPC Ltd, which generates a quarter of India's power.
Rival Tata Power's shares trade at a multiple of 42, and shares in Reliance Industries Ltd, India's largest listed company, trade more than 23 times their forward earnings, according to Reuters data.
By Devidutta Tripathy and Hiral Vora
Source : http://in.reuters.com/
Monday, March 3, 2008
Reliance Cap's consumer fin div disburses loans of Rs 5,000-cr
MUMBAI: Reliance Capital's Consumer Finance Division's disbursements have crossed the Rs 5,000-crore mark, a top company official said.
"We have already disbursed Rs 5,000 crore. Market share is not our major consideration. We are emphasising on quality portfolio," Reliance Consumer Finance Deputy Chief Executive Officer K V Srinivasan said on the sidelines of a press conference here today.
Reliance Consumer, which commenced commercial operations in May 2007, had disbursed loans of over Rs 3,000 crore within the six months of operations.
"Our personal loan portfolio is limited to one-fifth of total portfolio," Srinivasan said.
Asked on market share following its late entry in home loan segment, Srinivasan said, "We are in the home loan business for 8-9 months only and market share is not our major consideration."
Reliance Consumer ranks among the top 3 private sector financial services groups in terms of net worth.
Source : http://economictimes.indiatimes.com/
"We have already disbursed Rs 5,000 crore. Market share is not our major consideration. We are emphasising on quality portfolio," Reliance Consumer Finance Deputy Chief Executive Officer K V Srinivasan said on the sidelines of a press conference here today.
Reliance Consumer, which commenced commercial operations in May 2007, had disbursed loans of over Rs 3,000 crore within the six months of operations.
"Our personal loan portfolio is limited to one-fifth of total portfolio," Srinivasan said.
Asked on market share following its late entry in home loan segment, Srinivasan said, "We are in the home loan business for 8-9 months only and market share is not our major consideration."
Reliance Consumer ranks among the top 3 private sector financial services groups in terms of net worth.
Source : http://economictimes.indiatimes.com/
Reliance Capital starts grassroots initiative
Anil Ambani-led Reliance Capital Ltd Monday joined hands with microfinance institutions (MFIs) in Maharashtra and Gujarat to deepen the penetration of microfinance at the grassroots level.
Anil Ambani's wife Tina Ambani launched the initiative here by handing over the first disbursement cheques to Gujarat-based companies MAS Financial Services and Vardan Trust.
"Our vision is to provide access to finance at the grassroots level by partnering with MFIs serving rural and semi-urban areas," Tina Ambani said.
In the first phase, the initiative will focus on Maharashtra and Gujarat before moving on to other states. Tina Ambani explained that since Reliance has its base in Gujarat, the project has been launched there and in Maharashtra.
Deputy CEO of Reliance, K.V. Srinivasan, said: "The initiative envisages lending to MFIs who would then be lending them to agriculturists, artisans, small-scale industries, unskilled labourers and women."
Director of the MAS Financial Services Mukesh Gandhi said that MFIs often find raising capital a difficult proposition.
"Hence, this unique partnership will help us in optimally utilising our expertise in distribution of credit to small enterprises for income generation activities, consumption and emergency needs."
Mahesh Vara, CEO of the Vardan Trust, said that this tie-up would help them in spreading their network and meeting the growing need for finance by micro-entrepreneurs.
MAS Financial Services is spread all over Gujarat with 61 branches and more than 2,50,000 customers. It targets urban, semi-urban and rural markets.
Vardan Trust, established in 1998, offers microfinance to farmers, small shopkeepers, artisans, small enterprise workers and individuals engaged in animal husbandry.
Source : http://www.ndtvprofit.com
Anil Ambani's wife Tina Ambani launched the initiative here by handing over the first disbursement cheques to Gujarat-based companies MAS Financial Services and Vardan Trust.
"Our vision is to provide access to finance at the grassroots level by partnering with MFIs serving rural and semi-urban areas," Tina Ambani said.
In the first phase, the initiative will focus on Maharashtra and Gujarat before moving on to other states. Tina Ambani explained that since Reliance has its base in Gujarat, the project has been launched there and in Maharashtra.
Deputy CEO of Reliance, K.V. Srinivasan, said: "The initiative envisages lending to MFIs who would then be lending them to agriculturists, artisans, small-scale industries, unskilled labourers and women."
Director of the MAS Financial Services Mukesh Gandhi said that MFIs often find raising capital a difficult proposition.
"Hence, this unique partnership will help us in optimally utilising our expertise in distribution of credit to small enterprises for income generation activities, consumption and emergency needs."
Mahesh Vara, CEO of the Vardan Trust, said that this tie-up would help them in spreading their network and meeting the growing need for finance by micro-entrepreneurs.
MAS Financial Services is spread all over Gujarat with 61 branches and more than 2,50,000 customers. It targets urban, semi-urban and rural markets.
Vardan Trust, established in 1998, offers microfinance to farmers, small shopkeepers, artisans, small enterprise workers and individuals engaged in animal husbandry.
Source : http://www.ndtvprofit.com
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