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News in Numbers: SBI Life’s Rs8,400 crore IPO is potentially the biggest since 2010

LiveMint logoLiveMint 20-09-2017

6 paise

What is it? The revised interconnection usage charge (IUC) per minute effective 1 October, down from 14 paise per minute. The IUC refers to the fee paid by a mobile service provider, whose subscriber originates a call, to the telecom firm in whose network it gets terminated. The IUC will not be applicable from 1 January 2020.

Why is it important? This is likely to benefit Reliance Jio to the extent of Rs3,800 crore, according to the estimates by some analysts, and the incumbents including Bharti Airtel, Vodafone India and Idea Cellular stand to lose a corresponding amount. The older telecom firms, which have a cumulative debt of Rs8 trillion and are fending off competition from new entrant Reliance Jio that brought in major price wars, have been batting for the IUC to be raised to at least 30 paise. The telecom regulator believes that this move will benefit customers because it will give “greater retail pricing flexibility” to the operators.

Tell me more: The net IUC income roughly accounted for 14% and 18% of the wireless businesses of Bharti Airtel and Idea Cellular in the April-June quarter, according to some analysts. At 14 paise per minute, Reliance Jio paid around Rs500 crore to Bharti Airtel as IUC in the same quarter.


What is it? The number of times by which the Rs5,700 crore initial public offering (IPO) of ICICI Lombard General Insurance was subscribed on Tuesday, the final day of the share sale.

Why is it important? This is the first IPO by a general insurer in India and among the biggest this year, highlighting the increased investor sentiment in the country’s IPO market. The interest received for ICICI Lombard’s public issue is likely to set the tone for SBI Life Insurance’s Rs8,400 crore IPO to be launched on Wednesday, which is potentially the biggest since 2010. The non-life insurer’s IPO received bids for over 18.35 crore equity shares as against the issue size of 6.16 crore shares, not counting the anchor investors’ portion.

Tell me more: Indian companies have raised over $3 billion via the IPO route so far in 2017, before the ICICI Lombard public issue. It remains to be seen if 2017 is able to break the $8.5 billion record set by the IPO market in 2010.


What is it? The approximate number of accounts micro-blogging firm Twitter has suspended for promoting or being linked to terrorism in the first half of the year.

Why is it important? Twitter’s ongoing work of eliminating such accounts has resulted in an 80% drop in accounts reported by governments compared to the previous reporting period (1 July 2016-31 December 2016). Around 95% of the deleted accounts were identified by the company’s spam-fighting automation tools, while less than 1% of account suspensions related to terrorism were due to government requests in the first half of 2017. There have been reports of terrorist organisations using social media platforms for recruitment, propaganda and financing.

Tell me more: Twitter, which has 328 million users currently, has suspended 935,897 accounts for the promotion of terrorism between 1 August 2015 and 30 June 2017.


What is it? The number of Registrar of Companies that have released the list of disqualified directors who were associated with companies that haven’t filed annual financial statements for the last three years.

Why is it important? 55,000 directors are in the list, and these are among the 106,000 identified by the ministry of corporate affairs on 12 September. Prior to this, the government has identified 200,000 firms that are suspected to be shell companies—firms that act as conduit to convert illegal money or to avoid taxes.

Tell me more: The government might have applied the Companies Act, 2013 with retrospective effect. The relevant portion of the Act became operational on 1 April 2014 and from financial year 2014-15. But RoC, Mumbai has cited non-filing of returns for financial year 2013-14.


What is it? The percentage of consumers accessing unlicenced music in 2017, as compared to 37% in 2016.

Why is it important? Stream rip music that converts video content into audio file has emerged as a dominant threat to the music industry, even as more people are using licenced audio streaming services—45% in 2017 versus 37% in 2016.

Tell me more: The survey was conducted by the International Federation of the Phonographic Industry, an industry body, in 13 countries. India was not included in the survey. is a search engine for public data

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