Untitled - Sebi

409 Pages·2010·5.17 MB·English

TABLE OF CONTENTS

SECTION I – GENERAL........................................................................................................................................I
DEFINITIONS AND ABBREVIATIONS.............................................................................................................I
CERTAIN CONVENTIONS, USE OF FINANCIAL INFORMATION AND MARKET DATA AND
CURRENCY OF PRESENTATION....................................................................................................................IX
FORWARD-LOOKING STATEMENTS.............................................................................................................1
SECTION II – RISK FACTORS...........................................................................................................................2
RISK FACTORS....................................................................................................................................................2
SECTION III – INTRODUCTION......................................................................................................................28
SUMMARY OF INDUSTRY..............................................................................................................................28
SUMMARY OF BUSINESS...............................................................................................................................32
THE ISSUE..........................................................................................................................................................38
SUMMARY FINANCIAL INFORMATION.....................................................................................................39
GENERAL INFORMATION..............................................................................................................................52
CAPITAL STRUCTURE....................................................................................................................................63
OBJECTS OF THE ISSUE..................................................................................................................................77
BASIS FOR THE ISSUE PRICE.........................................................................................................................82
STATEMENT OF TAX BENEFITS...................................................................................................................84
SECTION IV – ABOUT THE COMPANY........................................................................................................90
INDUSTRY OVERVIEW...................................................................................................................................90
OUR BUSINESS................................................................................................................................................104
REGULATIONS AND POLICIES...................................................................................................................118
HISTORY AND CERTAIN CORPORATE MATTERS..................................................................................124
OUR MANAGEMENT.....................................................................................................................................134
OUR PROMOTER AND GROUP COMPANIES............................................................................................151
RELATED PARTY TRANSACTIONS............................................................................................................153
DIVIDEND POLICY.........................................................................................................................................154
SECTION V – FINANCIAL INFORMATION................................................................................................155
FINANCIAL INFORMATION.........................................................................................................................155
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS...................................................................................................................................................243
FINANCIAL INDEBTEDNESS.......................................................................................................................277
SECTION VI – LEGAL AND OTHER INFORMATION.............................................................................280
OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS......................................................280
GOVERNMENT AND OTHER APPROVALS...............................................................................................285
OTHER REGULATORY AND STATUTORY DISCLOSURES....................................................................289
SECTION VII – ISSUE INFORMATION........................................................................................................300
TERMS OF THE ISSUE....................................................................................................................................300
ISSUE STRUCTURE........................................................................................................................................303
ISSUE PROCEDURE........................................................................................................................................307
RESTRICTIONS ON FOREIGN OWNERSHIP OF INDIAN SECURITIES.................................................346
SECTION VIII – MAIN PROVISIONS OF ARTICLES OF ASSOCIATION...........................................350
SECTION IX – OTHER INFORMATION......................................................................................................380
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION.........................................................380
DECLARATION...............................................................................................................................................383
SECTION I – GENERAL

DEFINITIONS AND ABBREVIATIONS

Unless the context otherwise indicates, requires or implies, the following terms shall have the following
meanings in this Red Herring Prospectus and any references to any statutes, regulations or policies shall include
references to any amendments or reenactments made from time to time.

Company Related Terms

Term Description
“Articles” or “Articles of The articles of association of our Company, as amended.
Association” or “our Articles”
Auditor The statutory auditor of our Company, being S.R. Batliboi & Co.
“Board” or “Board of Directors” The board of directors of our Company or committees constituted by it from time to
or “our Board” time.
“Company” or the “Issuer” or One97 Communications Limited, a public limited company incorporated under the
Companies Act.
“We” or “us” or “our” The Company and where the context requires, the Subsidiaries, on a consolidated
basis.
Consolidated SHA Shareholders agreement dated December 12, 2008 entered amongst our Company,
Intel, SICP, SAIF, our Promoter, Mr. Peeyush Aggarwal and Mr. Rajiv Madhok
(SICP, SAIF, Mr. Vijay Shekhar Sharma, Mr. Peeyush Aggarwal and Mr. Rajiv
Madhok collectively referred to as “Existing Shareholders”) and any person holding
shares jointly with any of the Existing Shareholders.
Director(s) The director(s) on our Board.
ESOP Scheme 2008 The employee stock option plan of our Company for grant of options for 951,355
Equity Shares to permanent employees and Directors (whether whole time or not), but
not the Promoter.
Fixed Assets Unless otherwise specified, Fixed Assets shall include both tangible and intangible
assets.
“Memorandum” or The memorandum of association of our Company, as amended from time to time.
“Memorandum of Association”
or “our Memorandum” or
“MoA”
Group The Company together with its Subsidiaries i.e. Oorja Mobile Services Private
Limited and PayTM Mobile Solutions Private Limited and its erstwhile associate i.e.
TenCube Pte Ltd.
Group Company Such company as mentioned in the section titled “Our Promoter and Group
Companies” on page 151.
IIAL IDFC Investment Advisors Limited
Intel Intel Capital (Mauritius), Ltd., being an FVCI registered with SEBI.
Promoter The promoter of our Company, being Mr. Vijay Shekhar Sharma.
Promoter Group In addition to our Promoter, includes such persons and entities constituting our
promoter group pursuant to Regulation 2(zb) of the ICDR Regulations namely i) Mrs.
Mridula Parashar, ii) Mr. S.P. Sharma, iii) Mrs. Asha Sharma, iv) Mr. Ajay Shekhar
Sharma, v) Ms. Manisha Sharma; vi) Ms. Meenu Pathak; vii) Mr. K.K. Parashar; viii)
Mrs. Ashoka Parashar and ix) Ms. Divya Parashar.

The companies which are a part of the Promoter Group are i) Aryan Ayurveda Private
Limited and ii) Velocity Customer Services Private Limited.
Registered Office and Corporate The registered and corporate office of our Company, presently situated at First Floor,
Office Devika Towers, Nehru Place, New Delhi 110 019, India and at B-121, Sector 5,
Noida, Uttar Pradesh 201 301, India, respectively.
Restated Consolidated Summary Restated consolidated summary statements of assets and liabilities of the Group as at
Statements June 30, 2010, March 31, 2010, March 31, 2009 and 2008 and related profits and
losses and cash flows of the Group for the three month period ended June 30, 2010
and each of the years ended March 31, 2010, March 31, 2009 and 2008 as well as
certain other consolidated financial information as more fully described in the
auditors' examination report for such period included in this Red Herring Prospectus.
Restated Financial Information Collectively, the Restated Consolidated Summary Statements and Restated
Unconsolidated Summary Statements.
Restated Unconsolidated Restated unconsolidated summary statements of assets and liabilities of the Company
Summary Statements as at June 30, 2010, March 31, 2010, 2009, 2008, 2007 and 2006 and related profits
and losses and cash flows of the Company for the three month period ended June 30,
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Term Description
2010 and each of the years ended March 31, 2010, 2009, 2008, 2007 and 2006 as well
as certain other unconsolidated financial information as more fully described in the
auditors' examination report for such period included in this Red Herring Prospectus.
SAIF SAIF III Mauritius Company Limited
Scheme of Amalgamation Scheme of amalgamation for amalgamation of Worldwide Computer Services Private
Limited with the Company, as approved by the High Court of Delhi under Section 394
of the Companies Act, vide its order dated August 24, 2005.
Subsidiaries The subsidiaries of our Company, as described in the section titled “History and
Certain Corporate Matters – Our Subsidiaries” on page 126.
Suspension Agreement Agreement dated May 11, 2010 between the Company, our Promoter, Intel, Mr.
Peeyush Aggarwal, Mr. Rajiv Madhok, SAIF and SICP.
SICP SVB India Capital Partners I, L.P.
TenCube TenCube Pte. Ltd., an erstwhile associate company in which we held 21.28%
ownership interest as of June 30, 2010. We acquired a 21.28% ownership interest in
TenCube Pte. Ltd. in December 2009 and sold /transferred our 21.28% ownership
interest in TenCube Pte. Ltd. in August 2010.

Issue Related Terms

Term Description
“Allot” or “Allotment” or The allotment of Equity Shares to the successful Bidders pursuant to this Issue.
“Allotted”
Allottee A successful Bidder to whom Equity Shares are being/have been Allotted.
Anchor Investor A Qualified Institutional Buyer, applying under the Anchor Investor Portion, who has
bid for an amount of at least ` 100 million.
Anchor Investor Bid Bid made by Anchor Investor.
Anchor Investor Bidding Date The date one Working Day prior to the Bid/ Issue Opening Date.
Anchor Investor Bid/Issue The day, one Working Day prior to the Bid/Issue Opening Date, on which Bids by
Period Anchor Investors shall be submitted and allocation to Anchor Investors shall be
completed.
Anchor Investor Portion Upto [●] Equity Shares representing 30% of the QIB Portion, available for allocation
to Anchor Investors on a discretionary basis in accordance with the SEBI Regulations.
Anchor Investor Price The price at which Allotment is made to Anchor Investors in terms of the Red Herring
Prospectus, which shall be higher than or equal to the Issue Price, but not higher than
the Cap Price.
ASBA/ Application Supported The application (whether physical or electronic) used by a Bidder to make a Bid
by Blocked Amount authorising the SCSB to block the Bid Amount in his/her specific bank account
maintained with the SCSB.
ASBA Account Account maintained by an ASBA Bidder with a SCSB which will be blocked by such
SCSB to the extent of the Bid Amount of the ASBA Bidder.
ASBA Bid cum Application The application form, whether physical or electronic, used by the ASBA Bidder to
Form / ASBA Form make a Bid and which contains an authorisation to block the Bid Amount in an ASBA
Account, which will be considered as an application for the Allotment for the purposes
of the Red Herring Prospectus.
ASBA Bidder Any Bidder who intends to apply through ASBA facility.
ASBA Revision Form The form used by ASBA Bidders to modify the number of Equity Shares or the Bid
Price in any of their ASBA Bid cum Application Forms or any previous ASBA
Revision Form(s).
Avendus Avendus Capital Private Limited
“Bankers to the Issue” or The banks which are clearing members and registered with the SEBI and bankers to the
“Escrow Collection Banks” Issue with whom the Escrow Account will be opened, in this case being HDFC Bank
Limited and Standard Chartered Bank.
Basis of Allotment The basis on which the Equity Shares will be allocated as described in the section titled
“Issue Procedure–Basis of Allotment” on page 328.
Bid An indication by a Bidder to make an offer to subscribe for Equity Shares in terms of
the Red Herring Prospectus.
Bidder Any prospective investor who makes a Bid pursuant to the terms of the Red Herring
Prospectus.
Bid Amount The highest Bid Price indicated in the Bid cum Application Form, payable by the
Bidders on submission of the Bid in the Issue.
Bid cum Application Form The form in terms of which the Bidder (other than an ASBA Bidder) makes a Bid and
which will be considered as the application for Allotment.
Bid Price The prices indicated within the optional Bids in the Bid cum Application Form.
Bid/Issue Opening Date Except in relation to Anchor Investors, the date on which the members of the Syndicate
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Term Description
and SCSBs shall start accepting Bids, which shall be the date notified in an English
national daily newspaper, a Hindi national daily newspaper and a regional daily
newspaper, each with wide circulation and in case of any revision, the extended
Bid/Issue Opening Date also to be notified on the website and terminals of the
Syndicate and SCSBs, as required under the SEBI Regulations.
Bid/Issue Closing Date Except in relation to Anchor Investors, the date after which the members of the
Syndicate and SCSBs will not accept any Bids, which shall be notified in an English
national daily newspaper, a Hindi national daily newspaper and a regional daily
newspaper, each with wide circulation and in case of any revision, the extended
Bid/Issue Closing Date also to be notified on the website and terminals of the
Syndicate and SCSBs, as required under the SEBI Regulations.
Bidding Centre A centre for acceptance of the Bid cum Application Form.
Bidding Period The period between the Bid/Issue Opening Date and the Bid/Issue Closing Date
(inclusive of both days) and during which Bidders, other than Anchor Investors, can
submit their Bids, inclusive of any revision thereof.
Book Building Process The book building process as described in Schedule XI of the SEBI Regulations.
“Book Running Lead Book running lead managers to this Issue, being IDFC Capital Limited and Avendus
Managers” or “BRLMs” Capital Private Limited.
“CAN” or “Confirmation of Except in relation to the Anchor Investors, the note or advice or intimation sent to the
Allocation Note” successful Bidders confirming the number of Equity Shares allocated to such Bidders
after discovery of the Issue Price.

In relation to Anchor Investors, the note or advice or intimation sent to the successful
Anchor Investors who have been allocated Equity Shares after discovery of the Anchor
Investor Price, including any revisions thereof.
Cap Price The higher end of the Price Band above which the Issue Price will not be finalised and
above which no Bids will be accepted, including any revisions thereof.
Controlling Branches Such branches of the SCSBs which co-ordinate Bids under this Issue by the ASBA
Bidders with the Registrar to the Issue and the Stock Exchanges and a list of which is
available at http://www.sebi.gov.in/pmd/scsb.pdf or at such other website as may be
prescribed by SEBI from time to time.
Cut-Off Price Any price within the Price Band finalised by our Company in consultation with the
BRLMs. A Bid submitted at the Cut-off Price is a valid Bid at all price levels within
the Price Band. Only Retail Individual Bidders are entitled to bid at the Cut-off Price.
QIBs (including Anchor Investors) and Non-Institutional Bidders are not entitled to bid
at the Cut-off Price.
Depository A depository registered with SEBI under the Securities and Exchange Board of India
(Depositories and Participants) Regulations, 1996, as amended.
“Depository Participant” or A depository participant as defined under the Depositories Act.
“DP”
Designated Branch(es) Such branches of the SCSBs which shall collect the ASBA Forms and a list of which is
available on http://www.sebi.gov.in/pmd/scsb.pdf or at such other website as may be
prescribed by SEBI from time to time.
Designated Date The date on which the Escrow Collection Banks and the SCSBs transfer the funds from
the Escrow Accounts and the ASBA Accounts, respectively, to the Public Issue
Account, in terms of the Red Herring Prospectus.
“Designated Stock Exchange” Bombay Stock Exchange.
or “DSE”
DRHP Draft Red Herring Prospectus dated May 18, 2010 filed with SEBI on May 19, 2010.
Eligible NRI An NRI from such a jurisdiction outside India where it is not unlawful to make an offer
or invitation under this Issue and in relation to whom the Red Herring Prospectus
constitutes an invitation to Bid on the basis of the terms thereof.
Equity Shares The equity shares of our Company of face value of ` 10 each.
Escrow Account(s) An account to be opened with the Escrow Collection Bank(s) for this Issue and in
whose favour the Bidder (including Anchor Investors and excluding ASBA Bidders)
will issue cheques or drafts or RTGS instructions in respect of the Bid Amount.
Escrow Agreement An agreement to be entered among our Company, the Registrar to the Issue, the
Escrow Collection Banks, the Book Running Lead Managers and the Syndicate
Members for the collection of Bid Amounts and for remitting refunds, if any, to the
Bidders (excluding the ASBA Bidders) on the terms and conditions thereof.
First Bidder The Bidder whose name appears first in the Bid cum Application Form or Revision
Form or the ASBA Form.
Floor Price The lower end of the Price Band, below which the Issue Price will not be finalised and
below which no Bids will be accepted and which shall not be lesser than the face value
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Term Description
of the Equity Shares, including revisions thereof.
IDFC Capital IDFC Capital Limited
IPO Grading Agency CRISIL Limited, the IPO grading agency appointed by our Company for grading this
Issue.
Issue The public issue of [●] Equity Shares for an amount aggregating to ` 1,200 million.
Issue Price The final price at which Allotment will be made, as determined by our Company, in
consultation with the Book Running Lead Managers.
Key Managerial Personnel The personnel listed as key managerial personnel in the section titled “Our
Management” on page 134.
Mutual Fund Portion 5% of the Net QIB Portion or [●] Equity Shares, available for allocation to Mutual
Funds on a proportionate basis.
Net Proceeds Net proceeds of the Issue after deducting the Issue related expenses of our Company
Net QIB Portion The portion of the QIB Portion less the number of Equity Shares allotted to the Anchor
Investors, being a minimum of [●] Equity Shares to be allotted to QIBs on a
proportionate basis.
NIF National Investment Fund set up by resolution F. No. 2/3/2005-DD-II dated
November 23, 2005 of Government of India published in the Gazette of India.
Non-Institutional Bidders All Bidders (including Sub-Accounts which are foreign corporates or foreign
individuals) that are not Qualified Institutional Buyers or Retail Individual Bidders and
who have Bid for an amount more than ` 200,000.
Non-Institutional Portion The portion of the Issue being not less than 10% of the Issue consisting of [●] Equity
Shares, available for allocation to Non-Institutional Bidders.
Pay-in Date With respect to Anchor Investors, shall be a date not later than two days after the Bid
Closing Date.
Pay-in Period With respect to Anchor Investors, commencing on the Anchor Investor Bidding Date
and extending till the last date specified in the CAN, which shall not be later than two
days after the Bid Closing Date.
Price Band The price band between the Floor Price and Cap Price.
Pricing Date The date on which the Issue Price is finalised by our Company, in consultation with the
Book Running Lead Managers.
Prospectus The prospectus of our Company to be filed with the RoC for this Issue post the Pricing
Date in accordance with Sections 56, 60 and 60B of the Companies Act and the SEBI
Regulations.
Public Issue Account The bank account opened with the Bankers to the Issue by our Company under Section
73 of the Companies Act to receive money from the Escrow Accounts on the
Designated Date and where the funds shall be transferred by the SCSBs from the
ASBA Public Issue Accounts.
“QIBs” or “Qualified Public financial institutions as defined in Section 4A of the Companies Act, FIIs and
Institutional Buyers” Sub-Accounts (other than Sub-Accounts which are foreign corporates or foreign
individuals), VCFs, scheduled commercial banks, Mutual Funds, state industrial
development corporations, insurance companies registered with the Insurance
Regulatory and Development Authority, provident funds with a minimum corpus of `
250 million, pension funds with a minimum corpus of ` 250 million, the NIF and
Insurance Funds set up and managed by Army, Navy and Airforce of the Union of
India and insurance funds set up and managed by the Department of Posts, India,
eligible for bidding in this Issue.
QIB Portion The portion of the Issue being at least 60% of the Issue or [●] Equity Shares to be
Allotted to QIBs, including the Anchor Investor Portion.
“Red Herring Prospectus” or The Red Herring Prospectus which will be filed with RoC in terms of Section 60B of
“RHP” the Companies Act, at least three days before the Bid Opening Date and will become a
Prospectus after filing with the RoC after the Pricing Date
Refund Account(s) The account opened with the Refund Banker(s), from which refunds of the whole or
part of the Bid Amount (excluding the ASBA Bidders), if any, shall be made.
Refund Banker(s) The Bankers to the Issue with whom the Refund Accounts will be opened, in this case
being HDFC Bank Limited.
Registrar to the Issue Link Intime India Private Limited
Retail Individual Bidders Individual Bidders (including HUFs and Eligible NRIs) who have not Bid for Equity
Shares for an amount more than ` 200,000 in any of the bidding options in the Issue.
Retail Portion The portion of the Issue being not less than 30% of this Issue, consisting of [●] Equity
Shares, available for allocation to Retail Individual Bidders on a proportionate basis.
Revision Form The form used by the Bidders, to modify the quantity of their Bids or their Bid Price.
“Self Certified Syndicate Bank” The banks which are registered with SEBI under the Securities and Exchange Board of
or “SCSB” India (Bankers to an Issue) Regulations, 1994 and offers services in relation to ASBA,
including blocking of bank account and a list of which is available on
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Term Description
http://www.sebi.gov.in/pmd/scsb.pdf or at such other website as may be prescribed by
SEBI from time to time.
Stock Exchanges The NSE and the BSE.
Syndicate Agreement The agreement to be entered into among our Company and members of the Syndicate,
in relation to the collection of Bids (excluding Bids from the ASBA Bidders).
Syndicate Members Intermediaries registered with the SEBI and permitted to carry out activities as an
underwriter, in this case being Sharekhan Limited, Avendus Securities Private Limited
and Reliance Securities Limited.
“Syndicate” or “members of the The Book Running Lead Managers and the Syndicate Members.
Syndicate”
“Transaction Registration Slip” The slip or document issued by any of the members of the Syndicate, or the SCSBs, as
or “TRS” the case may be, upon demand to a Bidder as proof of registration of the Bid.
Underwriters The Book Running Lead Managers and the Syndicate Members.
Underwriting Agreement The agreement to be entered into between the Underwriters, our Company on or
immediately after the Pricing Date.
Working Days All days except Saturday, Sunday and any public holiday on which commercial banks
in New Delhi and/or Mumbai are open for business.

Conventional/General Terms, Abbreviations and References to Other Business Entities

Abbreviation Full Form
A/c Account.
AS Accounting Standards as issued by the Institute of Chartered Accountants of India.
BSE Bombay Stock Exchange Limited.
CDSL Central Depository Services (India) Limited.
Companies Act The Companies Act, 1956, as amended.
Depositories NSDL and CDSL.
Depositories Act The Depositories Act, 1996, as amended.
DIN Director’s Identification Number.
DIPP Department of Industrial Policy and Promotion, Ministry of Commerce and Industry,
GoI.
DP ID Depository Participant’s Identity.
ECB External Commercial Borrowings.
NECS National Electronic Clearing System.
EGM Extraordinary General Meeting.
EPS Earnings per share i.e., profit after tax for a Fiscal/period divided by the weighted
average number of equity shares/potential equity shares during that Fiscal/period.
ESI Act Employees State Insurance Act, 1948
ESOP Employee Stock Option Plan.
FCNR Account Foreign Currency Non-Resident Account.
FDI Foreign Direct Investment, as understood under applicable Indian regulations.
FEMA The Foreign Exchange Management Act, 1999, together with rules and regulations
framed thereunder, as amended.
FEMA Regulations Foreign Exchange Management (Transfer or Issue of Security by a Person Resident
Outside India) Regulations, 2000 as amended.
FII Foreign Institutional Investor, as defined in and registered under the FII Regulations.
FII Regulations Securities and Exchange Board of India (Foreign Institutional Investors) Regulations,
1995, as amended.
FVCI Foreign Venture Capital Investor as defined in and registered under the FVCI
Regulations.
FVCI Regulations Securities and Exchange Board of India (Foreign Venture Capital Investors)
Regulations, 2000, as amended.
FIPB The Foreign Investment Promotion Board, Minsitry of Finance, GoI.
Fiscal or Financial Year or FY A period of twelve months ended March 31 of that particular year, unless otherwise
stated.
GDR Global Depository Receipts.
GIR Number General Index Registry Number.
GoI or Government of India Government of India.
HUF Hindu Undivided Family.
Indian GAAP Generally Accepted Accounting Principles in India.
IFRS International Financial Reporting Standards.
IPO Initial Public Offering.
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Abbreviation Full Form
IRDA The Insurance Regulatory and Development Authority constituted under the
Insurance Regulatory and Development Authority Act, 1999, as amended.
IT Information Technology.
IT Act The Income Tax Act, 1961, as amended.
Ltd. Limited.
Merchant Banker Merchant banker as defined under the Securities and Exchange Board of India
(Merchant Bankers) Regulations, 1992.
Merchant Banker Regulations Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as
amended
MICR Magnetic Ink Character Recognition.
Mutual Funds Mutual funds registered with SEBI under the Securities and Exchange Board of India
(Mutual Funds) Regulations, 1996, as amended.
N.A. Not applicable.
Net Worth The aggregate of the share capital, reserve and surplus, surplus/ deficit in profit and
loss account and outstanding ESOP.
NEFT National Electronic Fund Transfer Service.
NGN Nigerian Naira
NRE Account Non-Resident External Account.
“Non Residents” or “NRs” Persons resident outside India, as defined under FEMA, including Eligible NRIs and
FIIs.
NRO Account Non-Resident Ordinary Account.
“Non Resident Indian” or A person resident outside India, as defined under FEMA and who is a citizen of India
“NRI” or a person of Indian origin, such term as defined under the Foreign Exchange
Management (Deposit) Regulations, 2000, as amended.
NSDL National Securities Depository Limited.
NSE The National Stock Exchange of India Limited.
“Overseas Corporate Body” or A company, partnership, society or other corporate body owned directly or indirectly
“OCB” to the extent of at least 60% by NRIs including overseas trusts, in which not less than
60% of beneficial interest is irrevocably held by NRIs directly or indirectly and
which was in existence on October 3, 2003 and immediately before such date was
eligible to undertake transactions pursuant to the general permission granted to OCBs
under FEMA.
p.a. Per annum.
PAN Permanent Account Number allotted under the IT Act.
P/E Ratio Price/earnings ratio.
Pvt. Private.
RBI Reserve Bank of India.
Regulation S Regulation S under the U.S. Securities Act.
RoC Registrar of Companies, National Capital Territory of Delhi and Haryana
RoNW Return on Net Worth.
`, Rs. or Rupees Indian Rupees.
RTGS Real Time Gross Settlement.
SBI State Bank of India.
SCRA The Securities Contracts (Regulation) Act, 1956, as amended.
SCRR The Securities Contracts (Regulation) Rules, 1957, as amended.
SEBI The Securities and Exchange Board of India constituted under the SEBI Act.
SEBI Act The Securities and Exchange Board of India Act, 1992, as amended.
SEBI Regulations/ ICDR The Securities and Exchange Board of India (Issue of Capital and Disclosure
Regulations Requirements) Regulations, 2009, as amended.
Sec Section.
SGD Singapore Dollar
SICA The Sick Industrial Companies (Special Provisions) Act, 1985, as amended.
Sub-Account Sub-accounts registered with SEBI under the Securities and Exchange Board of India
(Foreign Institutional Investor) Regulations, 1995, as amended from time to time.
TAN Tax Account Number
Takeover Code The Securities and Exchange Board of India (Substantial Acquisition of Shares and
Takeovers) Regulations, 1997, as amended.
TDSAT Telecom Disputes Settlement and Appellate Tribunal
TRA Trust and Retention Account.
TRAI Telecom Regulatory Authority of India
U.S. or US or U.S.A The United States of America, including its territories and possessions, any state of
the Unites States of America and the District of Columbia.
USD U.S. Dollar
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Abbreviation Full Form
U.S. GAAP Generally Accepted Accounting Principles in the United States of America.
U.S. Securities Act The U.S. Securities Act of 1933, as amended.
VCFs Venture Capital Funds as defined in and registered with SEBI under the VCF
Regulations.
VCF Regulations Securities and Exchange Board of India (Venture Capital Fund) Regulations, 1996,
as amended

Industry/ Business Related Terms, Definitions and Abbreviations

Abbreviation Full Form
2G Second generation wireless telephone technology
2.5G Stepping stone between 2G and 3G cellular wireless technologies
2.75G (EDGE) Enhanced Data Rates for GSM Evolution
3G Third generation wireless telephone technology
4G Fourth generation wireless telephone technology
A2P Application to Peer
AGR Adjusted Gross Revenue
ARIPO African Regional Intellectual Property Organization
ARPU Average Revenue Per User
BSNL Bharat Sanchar Nigam Limited
CDMA Code Division Multiple Access
CRBT Caller Ring Back Tones
CRM Customer Relationship Management
DND Do Not Disturb
DTH Direct-to-Home
EAPO Eurasian Patent Office
EPO European Patent Office
EVAS Enterprise Value Added Services
FMC Fixed Mobile Convergence
GPRS General Packet Radio Service
GR Gross Revenue
GSM Global System for Mobile Communications
HFCL HFCL Infotel Limited
IBD Inbound Dialier
IBEF India Brand Equity Foundation
IDEA Idea Cellular Limited
IN Intelligent Network
ISA International Searching Authority
ISO International Organization for Standardization
ITES Information Technology Enabled Services
IUC Interconnection Usage Charges
IVR Interactive Voice Response
IVRS Interactive Voice Response System
MAT Minimum Alternative Tax
m-Commerce Mobile Commerce
MMS Multimedia Messaging Service
MOU Minutes of Usage
MTNL Mahanagar Telephone Nigam Limited
MVAS Mobile Value Added Services
NASSCOM National Association of Software and Services Companies
NDNC Registry National Do Not Call Registry
OAPI African Intellectual Property Organization
OBD Outbound Dialer
P2P Peer to Peer
PCT Patent Co-operation Treaty, 1970
RAM Random Access Memory
RBT Ring Bank Tone
Reliance Reliance Communication Limited
SFA Sales Force Automation
SIM Subscriber Identity Module
SMS Short Message Services
SMSC Short Message Service Centres
vii
Abbreviation Full Form
SNMP Simple Network Management Protocol
STT Securities Transaction Tax
UCC Unsolicitated Commercial Communications
USSD Unstructured Supplementary Services Data
VAS Value Added Services
VIO Very Interactive Out dialler
Vodafone Vodafone Essar Limited
WAP Wireless Application Protocol

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