Tata Teleservices

Last updated

Tata Teleservices Limited
Company type Public
NSE:  TTML
BSE:  532371
ISIN INE517B01013
Industry Telecommunication
Founded1996
Founder Tata Sons
Headquarters Mumbai, Maharashtra, India
Area served
India
Key people
Harjit Singh (MD)
Products
RevenueDecrease2.svg₹280.13 crore (US$34 million) (2023) [1]
Increase2.svg₹287.95 crore (US$35 million) (2023) [2]
Total assets Decrease2.svg₹1,200 crore (US$140 million) (2023) [3]
Number of employees
1685 (2023)
Parent Tata Group
Divisions Enterprise Solutions
Website

Tata Teleservices Limited along with its subsidiary Tata Teleservices (Maharashtra) Limited is an Indian internet services provider and IT services company headquartered in Mumbai, India. It is listed on BSE and NSE in India. [4] [5] [6]

Contents

History

On March 13, 1995, Tata Tele (Maharashtra) Limited was founded as Hughes Ispat Limited, operating under the legal framework of the Companies Act of 1956. On April 26, 2000, the company changed its name to Hughes Tele.com (India) Limited to reflect its emphasis on broadband services. [7]

On February 13, 2003, the company underwent a name change to Tata Teleservices (Maharashtra) Limited. It currently operates as a subsidiary of Tata Teleservices Limited. [8]

In 2009, the company introduced mobile voice calling based on a pay per use model. [9]

According to Business Today Report, In November 2010, Tata Teleservices became the first private telecommunications operator to launch 3G services in India. [10]

As per the Economic Times report, Tata Teleservices operates a long fiber optic network spanning 132,000 kilometers and has a presence in over 70 cities. Tata Teleservices operates as a channel partner-based organization with a partner model encompassing approximately 1800+ partners nationwide. [11]

In February 2008, TTSL announced that it would provide CDMA mobile services targeted towards the youth, in association with the Virgin Group on a franchisee model basis.

In November 2008, Japanese telecom giant NTT Docomo picked up a 26 per cent equity stake in Tata Indicom, a subsidiary of Tata Teleservices, for about ₹130.7 billion (US$1.6 billion) or an enterprise value of ₹502.69 billion (US$6.0 billion). [12]

NTT DoCoMo announced on 25 April 2014 that they would sell 100% of their shares in Tata Indicom to Tata Teleservices and exit Indian market. The company had reported a loss of $780 million during financial year ending 31 March 2014. [13]

By 1 April 2015, all Virgin Mobile CDMA & GSM customers have been migrated into the umbrella Tata Indicom brand (Tata Indicom for Mumbai NCR).

In April 2015 Tata Teleservices drop the DoCoMo from its telecom brand Tata Docomo. According to The Hindu report The decision was made several months prior to the termination of the telecommunications company's contract with the Japanese operator NTT DoCoMo, allowing them to continue using the brand until the agreement's conclusion. [14] [15]

In August 2017, Tata Teleservices sought to exit mobile network division due to large losses and debt, then sold its unit to Bharti Airtel in a debt free and cash-free deal and described as virtually free; Airtel will only pay a part of Tata Teleservices's unpaid spectrum payment liability. [16] [17] [18] In November 2017, Tata Teleservices customers transitioned to the Airtel mobile network under an Intra Circle Roaming (ICR) arrangement. SIM cards and billing plans remained the same. [19] The consumer mobile businesses of Tata Docomo, Tata Teleservices (TTSL) and Tata Teleservices Maharashtra Limited (TTML) have been merged into Bharti Airtel from 1 July 2019. [20] [21] [22]

On 9 October 2017 Tata Teleservices announced it is preparing an exit plan for most of its 5,000-odd employees, which includes a notice of three to six months, severance packages for those willing to leave earlier, a voluntary retirement scheme (VRS) for elders, while transferring only a small part of its employees to other group companies. [23]

On 12 October 2017, Bharti Airtel announced that it would acquire the consumer mobile businesses of Tata Teleservices Ltd (TTSL) and Tata Teleservices Maharastra Ltd (TTML) in a debt-free cash-free deal. The deal will essentially be free for Airtel which will only incur TTSL's unpaid spectrum payment liability. TTSL will continue to operate its enterprise, fixed line and broadband businesses and its stake in tower company Viom Networks. [24] [25] [26] The deal received approval from the Competition Commission of India (CCI) in mid-November 2017. [27] [28] On 29 August 2018, Bharti Airtel, got its shareholders approval for the merger proposal with Tata Teleservices. [29]

On 17 January 2019 NCLT Delhi gave final approval merger between Tata Docomo and Airtel. [30] Department of Telecom (DoT), and Competition Commission of India (CCI) gave green signals for merger deal between Bharti Airtel and Tata Teleservices. [31] The consumer mobile businesses of Tata Docomo, Tata Teleservices (TTSL) and Tata Teleservices Maharashtra Limited (TTML) have been merged into Bharti Airtel from 1 July 2019. [32]

Product

According to The Economic Times report In 2018, Tata Tele Business Services introduced VPN solutions intended for small and medium-sized enterprises (SMEs). [33]

In 2019, Tata Tele Business Services introduced SmartOffice. [34] In 2021, amidst the pandemic, Tata Tele Business Services launched Smartflo, a cloud communication suite. [35] [36]

See also

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References

  1. ↑ "Tata Teleservices Maharashtra Q4 Results 2023 - Find Tata Teleservices Maharashtra Q4 Earnings Result TTML Q4 results" . Retrieved 13 September 2023.
  2. ↑ "Tata Teleservices (Maharashtra) Share Price Today (14 Sep, 2023) - Tata Teleservices (Maharashtra) Share Price Live NSE/BSE". The Economic Times. Retrieved 13 September 2023.
  3. ↑ "TATA TELESERVICES 2022-23 Annual Report Analysis". Equitymaster.com. 5 October 2012. Retrieved 13 September 2023.
  4. ↑ "Business solutions | Tata Teleservices Maharashtra (TTML)". Tata Tele Business Services. Retrieved 2 November 2023.
  5. ↑ "Tata Teleservices | Business | Tata group". www.tata.com. Retrieved 2 November 2023.
  6. ↑ "TataTeleservice Share Price, TataTeleservice Stock Price, Tata Teleservices (Maharashtra) Ltd. Stock Price, Share Price, Live BSE/NSE, Tata Teleservices (Maharashtra) Ltd. Bids Offers. Buy/Sell Tata Teleservices (Maharashtra) Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes". www.moneycontrol.com. Retrieved 2 November 2023.
  7. ↑ "Tata Teleservices (Maharashtra) > Company History > Telecommunications - Service > Company History of Tata Teleservices (Maharashtra) - BSE: 532371, NSE: TTML". www.moneycontrol.com. Retrieved 14 September 2023.
  8. ↑ "Company History of Tata Teleservices (Maharashtra) - BSE: 532371, NSE: TTML" (PDF). www.sebi.gov.in. Retrieved 14 September 2023.
  9. ↑ "Tata Tele to charge per call, no matter the duration". The Economic Times. 2 September 2009. Retrieved 14 September 2023.
  10. ↑ "Tata DoCoMo launches 3G services". Business Today. 3 November 2010. Retrieved 14 September 2023.
  11. ↑ Abbas, Muntazir (18 August 2020). "Tata Teleservices, FirstWave to launch cybersecurity solutions". ETTelecom.com. Retrieved 14 September 2023.
  12. ↑ "NTT DoCoMo buys 26% in Tata Tele for $2.7 bn". Business-standard.com. Retrieved 16 July 2010.
  13. ↑ Docomo Exit [ dead link ]
  14. ↑ S, Rajalakshmi (25 April 2014). "NTT Docomo to exit Tata Teleservices". BusinessLine. Retrieved 14 September 2023.
  15. ↑ Dasgupta, Pritha Mitra; Kumar, Arun (20 April 2015). "Tata Teleservices to drop DoCoMo from its telecom brand Tata Docomo". The Economic Times. Retrieved 14 September 2023.
  16. ↑ "Tatas exit mobile biz, merge loss-making unit with Airtel". Pankaj Doval and Reeba Zachariah. Times of India. 13 October 2017. Retrieved 13 October 2017.
  17. ↑ "Tata Teleservices to sell its wireless mobile business to Bharti Airtel". Arijit Barman, Romit Guha. The Economic Times. 13 October 2017. Retrieved 13 October 2017.
  18. ↑ "Bharti Airtel gets Tata Teleservices' mobile unit for nothing: All you need to know about the deal". Firstpost. 13 October 2017. Retrieved 13 October 2017.
  19. ↑ "Tata Teleservices mobile customers transition to Airtel". Airtel. 22 November 2017. Retrieved 1 July 2019.
  20. ↑ "Airtel Completes Merger of Tata". Livemint. 1 July 2019. Retrieved 4 July 2019.
  21. ↑ "Airtel's Tata merger deal". Business Line. 1 July 2019. Retrieved 3 July 2019.
  22. ↑ "DoT approved deal of Tata and Bharti Airtel". Economic Times. 11 April 2019. Retrieved 5 May 2019.
  23. ↑ Sengupta, Devina (9 October 2017). "Tata Teleservices prepares exit plan for staff". The Economic Times. Retrieved 9 October 2017.
  24. ↑ "Bharti Airtel to acquire Tata's mobile business on debt-free cash-free basis". www.businesstoday.in. 12 October 2017. Retrieved 18 November 2017.
  25. ↑ "Tata and Bharti to combine consumer telecom business via @tatacompanies". tata.com. Archived from the original on 12 November 2017. Retrieved 18 November 2017.
  26. ↑ Kurup, Rajesh (12 October 2017). "Tata Tele hangs up on mobile business; Airtel picks it up". The Hindu Business Line. Retrieved 18 November 2017.
  27. ↑ "Bharti Airtel-Tata Tele Merger Deal Gets CCI Approval". News18. 16 November 2017. Retrieved 18 November 2017.
  28. ↑ "Airtel receives CCI nod for Tata Tele's consumer business buy – ET Telecom". ETTelecom.com. Retrieved 18 November 2017.
  29. ↑ "Bharti Airtel shareholders approve merger proposal with Tata Teleservices". Economic Times. 29 August 2018. Retrieved 18 September 2018.
  30. ↑ "NCLT approves merger of Tata Teleservices with Bharti Airtel". Economic Times. 21 January 2019. Retrieved 12 February 2019.
  31. ↑ "DoT approved deal of Tata and Bharti Airtel". Economic Times. 11 April 2019. Retrieved 5 May 2019.
  32. ↑ "Airtel Completes Merger of Tata". Livemint. 1 July 2019. Retrieved 4 July 2019.
  33. ↑ "Tata Tele business services introduces smart VPN solutions for SMEs". ETTelecom.com. 10 October 2018. Retrieved 15 September 2023.
  34. ↑ "Tata Tele Business Services (TTBS)". SMEVENTURE. 3 April 2019. Retrieved 15 September 2023.
  35. ↑ Network, BFSI (19 February 2021). "Tata Tele Business Services introduces 'Smartflo'". Elets BFSI. Retrieved 15 September 2023.
  36. ↑ Bureau, BW Online. "Tata Tele Business Services Launches Smartflo with Cloud-Communication Suite". BW people. Retrieved 15 September 2023.{{cite web}}: |last= has generic name (help)
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