The tribunal on Monday overruled objections of Bharti Infratel, GTL and Ericcson. Further, according to a CNBC-TV18 report, the deal will help the company reduce its debt by Rs 11,000 crore.
Indian telecom companies are seeking mergers and acquisitions to beat tough competition.
The bundle pack, which will cost Rs 5,199 for a year, will consist of an RCom 4G SIM with 1GB data per day for 365 days and a Wi-Pod dongle.
The Comptroller and Auditor General (CAG), in its latest report tabled in Parliament today, said its audit indicated "total understatement of adjusted gross revenue (AGR) of Rs 61,064.56 crore" by six operators.
Unlimit said the number of connected devices in India is projected to rise from 200 million today to 3 billion by 2020, and nearly every part of the economy will be positively impacted by IoT.
"As a result of increase in debt and decline in revenue, the debt servicing capabilities of telecom companies have been adversely impacted. "The telecom industry's current financial problem to some extent can be attributed to the entry of a new telecom operator and its strategy of freebies to gain customer and market share," RCom said in a regulatory filing.
Reliance Communications has huge debt on its books and insufficient cash to pay that debt. Hence, the rating agencies recently downgraded the company and its bonds due to poor liquidity positions.
Reliance Communication is saddled with Rs 45,000-crore debt. It has got a seven-month reprieve from banks to service the debt.
The company is awaiting approval from the Competition Commission of India (CCI) for agreements entered into with Reliance Communications (RCom) and its subsidiary Reliance Telecom Ltd (RTL).
The IMG group is meeting operators and lenders to discuss financial difficulties faced by the telecom industry, whose debt burden stands at a whopping Rs 4.6 lakh crore.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy HDFC, Shankara Build and Chambal Fertilisers and can sell Andhra Bank.
Fitch and Moody's downgraded credit rating of Reliance Communications on account of its fragile liquidity position and limited ability to pay back debt.
Fitch Ratings' new report says that the telecom woes do not pose systemic risk to Indian banks. In an interview to CNBC-TV18, Nitin Soni, Director-Asia-Pacific Corporate Ratings at Fitch Ratings explained the rationale behind this.
"Indian banks' exposure to troubled telecom companies is not large enough to pose a systemic threat, but defaults could add to problems at banks with weak balance sheets," the rating agency said in a note here today.
In an interview to CNBC-TV18, Naveen Kulkarni, Co-Head of Research at PhillipCapital spoke about the debt restructuring in RComm and what the impact will be on the stock.
After digesting disappointing GDP data and better Q4 earnings season; in the coming week, the market is likely to get further direction from RBI monetary policy and progress of monsoon.
Anil Ambani said the company will be reducing 60 percent of the debt by September 30, 2017.
The fund house has exposure worth Rs 604 crore across five of its schemes.
A briefing would mark a rare appearance by Ambani, 57, reflecting the difficulties facing Reliance Communications, widely known as RCom, India's seventh-ranked telecoms carrier by customers. Ambani has a net worth of $2.7 billion, according to Forbes.
Bankers are likely to meet next week to decide on a restructuring plan for debt worth over Rs 42,000 crore owed by Reliance Communications (RCom).
Ratings revised the company’s long-term foreign and local-currency issuer default ratings (IDRs) to 'CCC' from 'B+' and downgraded the rating on USD 300 million 6.5% senior secured notes due 2020 to 'CCC/RR4' from 'B+/RR4'.
Bonds are of about six-month maturities offering 12.3 percent and collateralised by group company shares from Reliance Communications, Reliance Capital and Reliance Infrastructure.
The stock which has been under pressure since past few days fell further by 9.47 per cent to Rs 18.15 -- its 52-week low -- on BSE.
Offshore bonds due 2020 dropped five points to 64/69 cents on the dollar on Wednesday and have now lost a third of their value since the sell-off began two weeks ago.