You are here: Home » Companies » News
Business Standard

After massive networth erosion, Tata Tele seeks Rs 29,000-cr debt recast

Pressed more after the launch of Reliance Jio services, joins RCom in seeking a bailout from banks

Dev Chatterjee  |  Mumbai 

Tata Teleservices, the loss-making telecom services provider of the Tata group, had asked banks to restructure loans worth Rs 29,000 crore following a Rs 11,650 crore erosion in its net worth in 2016-17, banking sources said.  Tata Teleservices joins Anil Ambani-owned Reliance Communications in seeking a bailout from banks since the launch of services by Reliance Jio. According to bankers, Tata Teleservices and its listed subsidiary Tata Teleservices (Maharashtra) have asked banks to extend the maturity of loans to 20 years in line with the tenure of their licences and ...

TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST Rs 149 A MONTH

Key stories on business-standard.com are available to premium subscribers only.

LOGIN

EMAIL / USER NAME
PASSWORD
REMEMBER ME Forgot password?

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package

WHAT YOU GET

On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to WSJ.com with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
Our Partners are proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
First Published: Sat, June 24 2017. 04:02 IST
RECOMMENDED FOR YOU