Press Coverage – Kunal Bajaj

The funds will help Vodafone India to continue its investments in spectrum and expansion of networks to improve customer satisfaction

By Kalpana Pathak | Sep 23 2016 | Mumbai

Vodafone India Ltd said it has received an equity infusion of Rs47,700 crore ($7 billion) from its parent Vodafone Group Plc. that will help it buy more spectrum, expand infrastructure, reduce debt, capitalize a proposed payments bank and improve service quality.

“This equity infusion will be used for right-sizing our spectrum portfolio, expansion of technology across our multiple technology layers and deployment of future next-generation 4G and 5G technology,” said Sunil Sood, managing director and chief executive officer, Vodafone India.

Vodafone is infusing the money at a time when India is preparing for its largest auction of telecom radio waves on 1 October and in the background of an aggressive launch by Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd, that threatens to disrupt the market.

Sood said part of the money will be used to retire the company’s debt, which stands at around Rs25,000 crore. Vodafone also intends to spend some money on improving “quality of service”.

In the first quarter of this financial year, Vodafone, the country’s second largest mobile telephony services provider, gained 0.6% market share and reached a subscriber base of 200 million.

Vodafone is also investing in a payments bank as well as its enterprise business, which Sood identified as areas of future growth. He also said that the company is preparing for a share sale without giving a specific timeline for the initial public offering (IPO).

“Vodafone’s equity infusion is definitely inspired by Jio’s entry in the market but it has also happened because Vodafone has been planning for an IPO which got delayed. The funds from the IPO could have been used to support its long-term business plan. Given that the IPO is now delayed, it needed some capital in the interim to make up for that,” said Kunal Bajaj, an independent telecom consultant.

For the spectrum auction, one from which the government hopes to raise Rs5.63 trillion at the base price, the country’s leading telecom operators have deposited Rs14,653 crore as earnest money. Reliance Jio Infocomm Ltd has deposited Rs6,500 crore, said a 19 September PTI report.

Jio, built with an investment of Rs1.35 trillion, is all set to make life tougher for incumbent telcos. The heavy capital spending has helped Jio cover 70% of India with 270,000km of fibre optic cables and 92,000 towers. The company has said it will spend an additional Rs15,000 crore.

Vodafone India has deposited Rs2,740 crore for the auction, Idea Cellular Ltd Rs2,000 crore and Bharti Airtel Ltd Rs1,980 crore. These companies, like Jio, are eligible for bidding in any circle. The earnest money deposit is indicative of a company’s strategy to bid in specific circles and spectrum bands.

The top three telcos– Airtel, Vodafone India and Idea Cellular—purchased adequate spectrum to build capacity in previous auctions over the last five years, and may only look to buy enough in the coming auction to expand their coverage, say some experts. Many telcos have also signed spectrum sharing or trading agreements. Mergers and acquisitions have also reduced the need for additional spectrum.

Still, Jio’s launch may have changed a few things.

Analysts at rating company Crisil Ltd said India’s largest telcos could cumulatively invest about Rs1.2 trillion over the next two years to protect their turf as Reliance Jio debuts. Over 50% of this will be spent on network augmentation and the rest to buy more spectrum and pay instalments for previous purchases, the note said. Airtel, Vodafone and Idea Cellular are expected to account for about 55-60% of the total spending at the auctions, added Crisil

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By ET Bureau | Sep 23, 2016 | MUMBAI

VodafoneGroup Plc pumped a record Rs 47,700 crore of overseas investment into its Indian operation, slashing the unit’s debt by half, priming it for the upcoming spectrum auction and ensuring battle-readiness in the fight for market share as Reliance Jio Infocomm enters the fray.

The capital infusion, which involves converting loans to shares in the first half of the fiscal in the country’s second-biggest phone company, “will enable Vodafone India to continue its investments in spectrum and expansion of networks across various technology layers”, said Chief Executive Sunil Sood. This is the largest foreign direct investment (FDI) in India in rupee terms, exceeding BP’s $7.2-billion purchase of a stake in Reliance Industries.

To put things in perspective, third ranked telco Idea Cellular‘s market value at close of trade on Thursday was Rs 31,000 crore on the Bombay Stock Exchange while Reliance Communications was just over Rs 12,100 crore. Leader Bharti Airtel was at nearly Rs 1,30,795 crore. Vodafone’s investment in India since 2007 amounted to Rs 1.15 lakh crore at the end of March.

The infusion brings the company’s net debt down to Rs 34,300 crore and cuts the debt to equity ratio by half, said Sood. At the end of the last financial year, this stood at Rs 81,500 crore, leaving little free cash.

“We are judiciously deploying a portfolio of technologies — 2G, 3G, 4G and IoT (Internet of Things) — to cater to the myriad connectivity needs of our retail and enterprise customers across the country,” Sood said. The carrier’s subscriber base has crossed 200 million, against Bharti Airtel‘s 250 million.

ET had reported in its edition on September 14 that Vodafone was looking to make an infusion into the India unit to replace debt to increase its competitiveness.

The move signals Vodafone’s aggressive intent in the spectrum auction that’s set to start October 1, especially for 4G airwaves, experts said. “Vodafone needed it (infusion). We have seen others increasing capex and Vodafone doesn’t have that pan-India 3G/4G network that it will need,” said Kunal Bajaj, an industry consultant.

The mobile phone operator has 4G spectrum in nine of the country’s 22 circles, with operations in eight, lagging behind Jio and market leader Bharti Airtel’s pan-India holdings. India is set to sell spectrum, valued at Rs 5.6 lakh crore at the reserve price, including airwaves in the 4G and 3G bands. Besides 4G, analysts said Vodafone may buy 3G airwaves to plug coverage gaps.

Vodafone may spend big

Brokerage PhillipCapital expects Vodafone to spend about Rs 11,300 crore in the upcoming auction, more than its rivals Jio, Airtel and Idea Cellular.

Vodafone has struggled in the past few years with challenger Idea Cellular gaining over it in many areas but Sood said his company had gained a 0.6 percentage point market share in the last half year.

The company’s global management recently acknowledged at a conference that Vodafone India needed to strengthen its 4G holdings to be competitive, said a person aware of the matter.

The parent also indicated that it would delay plans to cease funding the Indian arm, he said.

Earlier this year, Vodafone India had initiated the process to launch an initial public offer, widely seen as a move to raise money for the spectrum auction without tapping its parent.

On Thursday, the company didn’t divulge any specific details on the IPO but said plans are on track. Analysts are skeptical about an IPO.

“They (Vodafone Plc) may have thought the IPO would happen sooner, but now that it hasn’t, this (infusion) was necessary,” said Bajaj.

Pressure on telecom stocks because of the Jio launch makes a public offer unlikely right now.

The conversion frees up borrowing capacity and boosts credibility in terms of the parent’s firm backing for its Indian unit, said a banker.

Vodafone is in a long-running dispute over a tax demand of around Rs 20,000 crore, including penalties and interest, related to the acquisition of Hutchison’s stake in the company in 2007.

Prashant Singhal of E&Y said: “The industry will need a further investment of $10-12 billion and such conversions increase the borrowing capabilities of companies to meet such investment needs.”

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Reliance Jio plans to offer five to 500 connections free of cost for a limited time to employees of select companies

By Upasana Jain | 12 August 2016 | Mumbai

Even as the Cellular Operators Association of India (COAI) escalated its fight with the Telecom Regulatory Authority of India (Trai) and Reliance Jio Infocomm Ltd to the Prime Minister’s Office (PMO), it emerges that R-Jio is set to expand the scope of the ongoing test-phase of its launch by tapping corporate customers.

The plan is to offer between five and 500 connections free of cost for a limited time to employees of select companies, two Jio officials, who asked not to be named, said.

A spokesman for Reliance Jio, a unit of Reliance Industries Ltd, did not respond to an email seeking comment.

According to the Reliance Jio officials, the company needs to expand its customer base to test its network. Its ongoing test, involving 1.5 million customers, has already run afoul of COAI, primarily a lobby of large incumbent telcos (although Reliance is also part of it), which says a test of this magnitude is actually a commercial operation.

COAI has also complained to the department of telecommunications that this launch has been done without submission of a tariff plan or interconnection agreements. It claims that as a result, telcos on whose networks calls made from Reliance Jio networks terminate, do not receive the so-called interconnection usage charge (IUC). COAI has also alleged that proposals by Trai on a new interconnect regime that slashes IUCs or moving to a so-called bill-and-keep model that favours new telcos are favourable to Reliance Jio.

On Thursday, the lobby group took its fight to the PMO.

Reliance Jio said on Wednesday that COAI’s moves are an effort to sabotage its launch.

The newcomer wants to reach a subscriber base of 22 million before it launches commercially. The move to look at companies is a logical one, said a consultant.

“It’s a natural progression from pre-paid to post-paid and with large data users being post-paid customers, it (the corporate segment) is a very attractive and competitive segment for a company to be in,” said Kunal Bajaj, consultant for telecom ventures.

Till the first quarter of this fiscal, Reliance Industries has spent Rs.1.34 trillion on Jio, funded by a combination of equity (Rs.45,000 crore), debt (Rs.47,000 crore), vendor financing (Rs.28,000 crore), and deferred spectrum payments (Rs.14,000 crore). This spending has helped Reliance Jio cover 70% of India with 270,000km of fibre optic cables and 92,000 towers. The company has said it will spend another Rs.15,000 crore.

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They would have benefitted from the Tata scale and a good brand but Tata Teleservices is a loss making entity which has been slowing,” said Kunal Bajaj, a telecom expert who was formerly with Analysis Mason.

By Deepali Gupta  |  31 December 2015

Mumbai: Telenor faces a ‘do-or-die’ situation to stay relevant in India, pushed into a corner due to limited data spectrum and geographical presence amid an emerging combination of Reliance Communications, Sistema Shyam and Aircel and the launch of Reliance Jio Infocomm, analysts say.

Analysts say options before Telenor India, the local unit of a Norwegian telco, are few now – one, to buy Tata Teleservices and the second, to buy airwaves from operators exiting the market, failing which Telenor may well be forced to shut shop, as a greenfield expansion is ruled out. Sources say its talks to buy Videocon Telecom’s airwaves in two circles as well as those with the Tatas have run into valuation hurdles.

“They would have benefitted from the Tata scale and a good brand but Tata Teleservices is a loss making entity which has been slowing,” said Kunal Bajaj, a telecom expert who was formerly with Analysis Mason.

“Auctions are getting more expensive as the government clears and gives bigger blocks of spectrum, so it is a tough situation,” he added. “They (Telenor) do have the advantage of lower operating costs (than other fringe players) which if they can leverage they can survive (as a small operation), but it won’t generate the most attractive returns”.

B K Syngal, former chairman of VSNL and now senior principal at Dua Consulting said, the time of greenfield operations has passed. “Growth will be too slow while incumbents will continue to grab the lion’s share in the market. Such growth will lend itself to another consolidation in just a couple of years,” he said.

The intensely competitive Indian market is fast shaping into a data market. The introduction of 4G services by the top three players Bharti Airtel, Vodafone India and Idea Cellular and the impending launch of Reliance Jio’s services puts a spanner in Telenor India’s strategy of offering 2G data services at the lowest prices, especially given that it has some 6% of subscriber share and much lesser revenue market share.

Moreover, the RCom, Sistema Shyam, Aircel combination in the works will be a strong No. 4 in this set up, not counting Jio.

Telenor – which operates in Andhra Pradesh, Gujarat, UP (West), UP (East), Bihar and Maharashtra & Goa – though reiterated that its ‘sabse sasta’ strategy has been very successful, saying that within three years of obtaining licences for the six circles, it has a revenue market share and customer market share of 4% (on an average), and is one of the fastest growing operators. It has airwaves in Assam as well, but hasn’t launched services there.

“We will offer relevant services as and when we feel the market is ready for it and our customers demand,” it said, adding that its network is getting “future ready”. It has airwaves in the 1800 Mhz band in all seven circles – which could be used for 4G – but hasn’t had the network to support the high-speed broadband services so far.

It needs to act fast though, else it faces the risk of completely missing out on additional data hungry customers in a market where 3G is expanding rapidly and even 4G has taken early steps.

The telco, which has around 50 million 2G mobile subscribers in six circles, needs to make a decisive move on data growth now, given that it doesn’t have 3G spectrum. Its niche ‘sabse sasta’ formula has been increasingly challenged by larger telcos who are dropping rates.

For example, in November, Telenor added just over seven lakh subscribers, compared with Idea’s 3.4 million, Vodafone’s 2.5 million and Airtel’s 2.8 million. And Jio hasn’t even entered the race.

“As a niche player you can compete for a while, but if Jio starts a price war, then survival will be a challenge and any growth plans will go out of the window,” said a Mumbai-based analyst, who declined to be named.

All those close to the company say Telenor’s global chief Sigve Brekke, who oversaw the India launch and was Telenor’s appointed executive to clean up the India situation after the Supreme Court had revoked the company’s licences, is conservative when it comes to acquisition premium. “He thinks that sooner or later either a distress buy will come up, or a better greenfield opportunity,” said a person familiar.

Telenor is now tipped to be the buyer of Videocon’s airwaves in the 1800MHz band, suitable for 4G service in its strongholds Bihar and Uttar Pradesh (East). Last month Idea Cellular mopped up Videocon’s airwaves in Gujarat and Uttar Pradesh (West).

Analysts say Telenor also has the option to buy surplus spectrum from other operators, for example if Aircel and Reliance Communications merger goes as per the announced plan earlier this month, the two telcos have overlapping surplus spectrum that may come up for sale.

Telenor could also wait for the government to auction airwaves in 700MHz band, which has been used for a few 4G deployments around the globe.

No wonder, in its submission to the sector regulator, Telenor India batted for an early auction of the 700 Mhz band.

But it is still uncertain if those airwaves would be auctioned anytime soon, given the opposition from larger players.

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Oct 20, 2015 | Source: Moneycontrol.com

According to the new rules imposed by Trai, telecom operators will have to compensate its users by paying Re 1 for every call dropped from January 1, 2016, and limit it to a maximum of three calls dropped per day

The government most definitely won the ongoing tussle with telecom operators, with the telecom regulator Trai terming the services in Delhi and Mumbai unsatisfactory after its audit in the two cities. According to the new rules imposed by Trai, telecom operators will have to compensate its users by paying Re 1 for every call dropped from January 1, 2016, and limit it to a maximum of three calls dropped per day.

According to the government, telecom operators have not managed to keep pace with rising subscriber base in terms of infrastructure, while the operators feel spectrum shortage and the fact that the government over the years has striked down many a towers, terming them to be illegal, has resulted in infrastructural issues. There have also been protests against installation of telecom towers in residential areas on the back of fears of harmful rays. The industry also rubbished the government’s claims of inadequate infrastructual spends.

While operators obviously called foul, analysts too are not sold on the idea of compensating customers. Apart from the cost impact, companies are also worried that such a rule may lead to scuffles or confrontations with subscribers. The Cellular Operators Association of India (COAI) that represents top telcos such as Bharti Airtel  and  Idea Cellular  is planning to take legal recourse if Trai fails to address the concerns of telecom operators.

The issue came to the fore after Prime Minister Narendra Modi apoke about it in August this year while reviewing the various infrastructure bottlenecks in the country and directed DoT officials to fix the problem soon.

But compensating customers is most definitely not the way forward, feel industry experts and analysts. They feel there are a lot of implementation issues.

Terming the rule as good in theory, but not practical , Suresh Mahadevan, MD and Head of Asia Telecom & Media Research at UBS AG, told CNBC-TV18, that in the top 15 cities, there is genuine shortage of spectrum during peak hours.

Also, for call drops when the call is made between two different operators, there will always be a dispute as to which operator is to blame.  This opinion is also seconded by many other industry experts. COAI is infact also expects to meet Trai officials next week to discuss these issues.

Mahadevan, however, does not see mobile operators having to raise tariffs to compensate for dropped calls.

According to a report in The Economic Times , maximum outgo for a telco can work out to Rs 93 for every consumer per month, a big hit considering the Rs120-200 average revenue per user (ARPU) that telcos generate per month from voice calls.

Analysts also say TRAI’s missive will hit profitability of telecom companies as the maximum allowed compensation of Rs 90 per user per month was almost at the lower end of the monthly ARPU they make from voice services they offer. “This is pretty significant and more than we were expecting. It will have a major impact on ARPUs and telcos will take it seriously,” telecom analyst Kunal Bajaj told CNBC-TV18. Bajaj says a bigger problem is how the regulator will measure dropped calls.

CDMA telecom body AUSPI’s Ashok Sud too agrees with this, saying that even as measuring dropped calls will be a technical challenge, there will always be some amount of dropped calls on a mobile network.

Meanwhile, a Hindustan Times report says a comprehensive solution for call drops lies beyond compensating consumers. “India needs a right mix of policy support and regulation, requisite investment in infrastructure, free-signal boosters and optimum use of spectrum. The operators also have to improve network utilisation. To do all this, they need the support of state governments and local municipal bodies,” the report states. Additionally, it also says, the service-level agreements that operators enter into with managed service providers for setting up networks, erecting towers and putting up boxes to transmit calls must be looked into as they are old and fail to take into account the changes that have taken place in technology and market.

Prior to the implementation of these norms, Trai had come out with a consultation paper, inviting comments from all parties concerned — including the public. Telecom service providers (TSPs) had outlined steps that were already undertaken address the issue. “Clearly, state governments and municipalities have to be approached and dealt with by Department of Telecommunications (DoT), and a common tariff structure for cell towers and right of way organised so that the TSPs don’t fall prey to their machinations. The issue of 24×7 electricity to these towers has also to be addressed. Likewise, the interference from illegal wideband radios have to be stopped, both from within the country and from across the borders,” a Hindu Business Line report says.

Bharti Airtel stock price

On October 26, 2015, at 15:43 hrs Bharti Airtel was quoting at Rs 351.90, down Rs 6.85, or 1.91 percent. The 52-week high of the share was Rs 452.45 and the 52-week low was Rs 315.65.

The company’s trailing 12-month (TTM) EPS was at Rs 32.61 per share as per the quarter ended June 2015. The stock’s price-to-earnings (P/E) ratio was 10.79. The latest book value of the company is Rs 195.80 per share. At current value, the price-to-book value of the company is 1.80.

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Oct 16, 2015 | Moneycontrol.com

Telcos will have to compensate Re 1 for each call dropped. The TRAI said the upper limit for call drop compensation will be capped at three per day per user.

Moneycontrol Bureau

The Telecom Regulatory Authority of India (TRAI) today decided to crack the whip on telecom companies, and asked them to start compensating for call drops from January 1, 2016.

Telcos will have to compensate Re 1 for each call dropped. The TRAI said the upper limit for call drop compensation will be capped at three per day per user.

Telcos would have to send an SMS to a user within four hours of a call drop intimating him about the credit. Postpaid users will get to see details of the compensation in the montly bills.

The issue of call drops has gathered momentum recently with TRAI asking telcos to improve service standards, while the latter say limited availability of spectrum and towers hamper their ability to offer better connectivity.

The regulatory body considers a benchmark rate of 2 percent and 3 percent (worst affected cell) as a call drop rate threshold for each telecom service provider in each circle and publishes data in the quality of service chapter of the sector’s quarterly performance report.

Shares of Bharti Airtel  and Idea Cellular  dropped 2.3 percent and 2.6 percent after the news came out.

Analysts said TRAI’s missive would hit profitability of telecom companies as the maximum allowed compensation of Rs 90 per user per month was almost at the lower end of the monthly average revenue per user (ARPU) they make from voice services they offer.

“This is pretty significant and more than we were expecting. It will have a major impact on ARPUs and telcos will take it seriously,” telecom analyst Kunal Bajaj told CNBC-TV18.

Bajaj added that bigger problem is how the regulator will measure dropped calls.

CDMA telecom body AUSPI’s Ashok Sud agreed with this, saying that even as measuring dropped calls will be a technical challenge, there will always be some amount of dropped calls on a mobile network.

“The regulator itself defines the limit of normal level of dropped calls at 2 percent. A charge should be levied only if the number of dropped calls crosses this threshold,” he said.

He said telcos will come together and discuss whether they want to contest the ruling.

For entire interview, watch accompanying video.

Bharti Airtel stock price

On October 26, 2015, at 15:43 hrs Bharti Airtel was quoting at Rs 351.90, down Rs 6.85, or 1.91 percent. The 52-week high of the share was Rs 452.45 and the 52-week low was Rs 315.65.

The company’s trailing 12-month (TTM) EPS was at Rs 32.61 per share as per the quarter ended June 2015. The stock’s price-to-earnings (P/E) ratio was 10.79. The latest book value of the company is Rs 195.80 per share. At current value, the price-to-book value of the company is 1.80.

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CNBC-TV18 | Aug 13, 2015

In a move that will come as a major boost for the telecom industry, the Cabinet today gave its approval to allow spectrum sharing between telecom companies.

n a move that will come as a major boost for the telecom industry, the Cabinet today gave its approval to allow spectrum sharing between telecom companies.

The move will allow the country’s large number of telecom companies to share spectrum amongst themselves more efficiently, leading to greater utilization and improved service quality.

A longstanding demand of the industry, the Cabinet nod comes soon after an inter-ministerial panel okayed the move following the recommendation of the TRAI.

“This will allow telecom companies to expand and grow further,” Rajan Matthews, Director General, Cellular Operators Association of India told CNBC-TV18.

He added that he hoped the government would come out with a favorable cap for sharing of spectrum, and said customers should expect the issue the issue of frequent call drops to be resolved partially after formal notification of the guidelines.

Agreeing with Mathew’s views, Kunal Bajaj, an independent telecom analyst said that telecom companies can improve services across various brands through expansion and optimum utilisation of capacity.

For more information, please watch the video.

By Binu Paul  | techcircle.in | August 4, 2015

GREX Alternative Investments Market Pvt Ltd, an integrated exchange-like platform that allows startups and unlisted companies raised capital from private investors, has secured Rs 4 crore ($625,000) in its first round of fundraising from angel investor Kunal Bajaj, MSCI’s Chandru Badrinarayanan and a group of unnamed private investors.

The funds will be utilised by GREX to strengthen its IT backbone and for bringing in new financial products and features on the information sharing platform, the company said in a statement.

“Our intention is to ensure we build a participative ecosystem and bring down the cost of capital for the companies,” said Manish Kumar, founder and CEO of GREX.

“Many of the companies are losing out almost 40-50 per cent of their equity base in the very first or second rounds of capital raise. This is expensive and prohibitive. On the other hand there is huge affluent class of private investors who simply do not have an access medium to these companies. We are integrating the mutual needs in a rule and process based framework that caters to all and it is built on a solid IT backbone,” Kumar added.

GREX also counts Rimpal Chawla, Aruna Vaidyanathan, Rajeshwari Bhattacharyya and Reenu Singh as investors.

GREX is being positioned as a stock exchange styled platform for startups to raise capital. The company claims that more than 200 startups and over 150 investors are in the process of registering on its platform. About eight companies have completed the full data disclosure process that GREX says is mandatory. The platform is expected to go live next month when the first startup will raise money, the company said.

GREX was founded in 2012 by Kumar along with Abhijeet Bhandari, Sanjay Nishank and Surojit Nandy. It aims to build an alternative funding ecosystem for startups, along with more exit options for investors who back risky ventures.

Companies seeking to raise funds through GREX need to dematerialise their shareholding. GREX has tied up with depository services and transfer agents to facilitate the process.

Once a company is registered on the platform, investors can follow the company for some time and decide if they wish to put money.

“The need for GREX is obvious – entrepreneurs and investors need a more transparent and efficient way to partner with each other,” said Kunal Bajaj, an investor in GREX.

In his previous avatar, Bajaj was India director at Analysys Mason, a strategy consulting and advisory services firm. He also has investment positions in HealthifyMe, Qlicket and other startups.

Badrinarayanan has been head of India sales at MSCI since June 2013. He is responsible for new business development for MSCI’s index, portfolio risk and performance analytics products and services.

GREX is looking to provide an alternate platform against the proposed special platform for startups to go public and raise capital as proposed by capital markets regulator SEBI. The final guidelines on this special platform is expected to be out soon.

There are already other crowdfunding styled angel investor platforms that help startups raise capital.

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By Shashidhar KJ  | June 25, 2015

Paytm makes three strategic board appointments

Mobile wallet and marketplace Paytm has made three new additions to its board and has appointed Ruchi Sanghvi, the first woman engineer at Facebook, WhatsApp global business head Neeraj Arora and InMobi founder Naveen Tewari, reports the Economic Times.

Ruchi Sanghvi  is currently vice president of operations at Dropbox and at Facebook she co-created and managed the News Feed feature on Facebook, Facebook Connect and Facebook’s Developer Conference F8. She has led core areas of product, including Facebook Privacy, Notes, Homepage, Profiles and User Engagement.

Neeraj Arora is WhatsApp’s vice president and a veteran in the technology space with a focus on mergers and acquisitions, fund raising, corporate development, business development. Arora joined WhatsApp in 2011 after working in Google for more than 4 years. Prior to Google, he was also chief manager at Times Internet.

Naveen Tewari is the founder of mobile ad network InMobi and has also invested in startups such as Mango Games, financial services company Moneysights.com and accommodation platform  Nestaway.

Paytm board includes Ravi Adusumalli and Vivek Mathur of SAIF Partners. Also on the Paytm board are Jai Das of Sapphire Ventures, Kunal Bajaj of Analysys Mason and venture investor Michael Levinthal.

Vodafone appoints Amit Pradhan as chief technology security officer

Vodafone India has appointed Amit Pradhan as its chief technology security officer, reports the Economic Times. According to his LinkedIn profile, Pradhan joined Vodafone India earlier this month. Prior to Vodafone India, Pradhan served Cipla for almost three years as Group Chief Information Security Officer (CISO). He also served as AVP of risk and security for The Royal Bank of Scotland. Pradhan’s focus lies in the areas of security operations, consulting, IT advisory and technology audits. His core expertise is setting up security functions like ISMS, SOC, Cyber Threat Response, Incident Response, Forensics and Business continuity framework.

Pradhan takes over the post of chief technology security officer at Vodafone following the exit of Burgess Cooper in February.  Cooper, who left the company after a nine years long stint, joined global consultancy firm Ernst & Young as Partner-Information & Cyber Security.

Prasar Bharati appoints Surya Prakash as full time chairman

Public broadcaster Prasar Bharati has appointed Surya Prakash as its chairman on a full time basis, reports Indiantelevision.com. Until now the post of the chairman was part time with a tenure of six years.

Prasar Bharati’s board comprises a chairman, an executive Member (chief executive officer), a member of finance, a member of  personnel, six part-time members, a representative of the Ministry of Information & Broadcasting and the Directors General of All India Radio and Doordarshan as ex-officio Members.  Indiantelevision further reports that the post comes with a salary hike which stands at Rs 1 lakh a month. Praksah is also entitled to receive Rs 10,000 per day subject to the overall monthly ceiling of Rs 1 lakh per month, for those days in a month when he is required to “perform any official work or duty” in the discharge of his functions as chairman of Prasar Bharati, including attending meetings.

Prasar Bharati operates state-run Doordarshan television network and the All India Radio

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By BI India Bureau | Jun 24, 2015, 11.49

In order to go head-to-head with the top players of online retail in India, the country’s fastest growing mCommerce website Paytm, which started in 2010, has appointed Ruchi Sanghvi, the first woman engineer at Facebook, WhatsApp global business head Neeraj Arora and InMobi founder Naveen Tewari to its board.

Vijay Shekhar Sharma, founder and CEO of Paytm, told The Economic Times, “We are a young company and need help in scaling Paytm to become India’s most dominant mobile Interncompany.”

Sharma further added, “Ruchi brings a great tech and product background, Neeraj is one of the best-connected Silicon Valley Indians and Naveen knows how to build a world-class organisation from India.”

Apart from Sharma and these latest appointments, Noida-based Paytm board includes Ravi Adusumalli, Vivek Mathur of Saif Partners, Das of Sapphire Ventures, Kunal Bajaj of Analysys Mason and venture investor Michael Levinthal.

In February, Paytm raised $575 million (Rs 3,600 crore) from Chinese eCommerce giant Alibaba’s affiliate Ant Financial Services Group at an estimated valuation of over $1.5 billion, and now it’s looking to compete with the India’s top e-tailers like Flipkart, Snapdeal and Amazon in a fierce battle for talent as well as market share in the country.

“We look to bring global talent and best practices for scaling to half-a-billion Indians on the Paytm platform. I can see our very strong independent board helping us achieve that,” said Sharma.

By 2020, the Indian Internet market is expected to grow to $137 billion as against $11 billion in 2013.

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