Inception and Growth
In 2000, Tata Cellular was a company providing mobile services in Andhra Pradesh. When Birla-AT&T brought Maharashtra and Gujarat to the table, the merger of these two entities was a reality. Thus Birla-Tata-AT&T, popularly known as Batata, was born and was later rebranded as IDEA.
Then Idea set sights on RPG’s operations in Madhya Pradesh which was successfully acquired, helping Batata have a million subscribers, and the licence to be the fourth operator in Delhi was clinched.
In 2004, Idea (the company had by then been rechristened) bought over the Escorts group’s Escotel gaining Haryana, Uttar Pradesh (West) and Kerala — and licences for three more — UP (East), Rajasthan and Himachal Pradesh. By the end of that year, four million Indians were on the company’s network. In 2005, AT&T sold its investment in Idea, and the year after Tatas also bid good bye to pursue an independent telecom business. And Idea was left only with one promoter, the AV Birla group. Rs 2,700 crore adding Punjab and Karnataka circles. Modi’s joint venture partner, Telekom Malaysia, invested Rs 7,000 crore for a 14.99% stake in Idea. Just around then, Idea’s subsidiary, Aditya Birla Telecom sold a 20% stake to US-based Providence Equity Partners for over Rs 2,0000 crore.
Read more about this topic: Idea Cellular
Famous quotes containing the words inception and/or growth:
“Most of us don’t have mothers who blazed a trail for us—at least, not all the way. Coming of age before or during the inception of the women’s movement, whether as working parents or homemakers, whether married or divorced, our mothers faced conundrums—what should they be? how should they act?—that became our uncertainties.”
—Anne Roiphe (20th century)
“A personality is an indefinite quantum of traits which is subject to constant flux, change, and growth from the birth of the individual in the world to his death. A character, on the other hand, is a fixed and definite quantum of traits which, though it may be interpreted with slight differences from age to age and actor to actor, is nevertheless in its essentials forever fixed.”
—Hubert C. Heffner (1901–1985)