Ref: SECTL/2022 - 11

January 15, 2022

BSE Limited

National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers,

Exchange Plaza, 5th Floor, Plot No. C/1, G-Block,

Dalal Street,

Bandra-Kurla Complex, Bandra (East)

MUMBAI - 400 001

MUMBAI - 400 051

Scrip Code: BSE - 532974

NSE - BIRLA MONEY

Dear Sir / Madam,

Sub : Intimation under Regulations

33 and 47 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015.

Pursuant to Regulations 33 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the newspaper advertisements regarding the Unaudited financial results of the Company for the quarter and nine months ended 31st December 2021 published in Business Standard and Jai Hind.

The same shall be uploaded on the Company's website www.adityabirlamoney.com.

This is for your information and record.

Thanking you,

Yours faithfully,

For Aditya Birla Money Limited

SANGEETA MUKESH SHETTY

Digitally signed by

SANGEETA MUKESH SHETTY

Date: 2022.01.15 11:53:19 +05'30'

Sangeeta Shetty Company Secretary

MUMBAI | FRIDAY, 14 JANUARY 2022

TAKE TWO 7

.

<

VIL's tough future call

The question of what happens if the telco is unable to repay the government in four years remains unanswered

SURAJEET DASGUPTA

New Delhi, 13 January

n

Tuesday,

the

announcement that the

Ogovernment

had

acquired 35.8 per cent in

Vodafone-Idea Ltd (VIL)

sparked off a debate on the

consequences of

the

move

for the country's troubled

telecom business.

This development was the

result of VIL accepting the one-

time opportunity offered by the

government to convert into

equity the

interest amount

arising on the four-year defer-

ment on the four-year morato-

rium on payments for spectrum

VIL'S TWO BIG CHALLENGES

and dues on adjusted gross

revenue (AGR).

QuarterSub base (in millions)

ARPU (~)

Some analysts and compet-

Q2 FY21

119

271.8

ing telcos said VIL has been

Q3 FY 21

269.8

121

given a reprieve that only

postpones

the

inevitable

Q4 FY 21

267.8

107

private duopoly

in

mobile

Q1 FY 22

255.4

104

telephony. They predict that

Q2 FY 22

253

109

VIL will face a herculean task

Source: Company

repayingitsduesoncethemora-

torium is over.

If it fails to do so, the govern-

decentupsidetothisbuyaswell.

ernment - judging by its cur-

increasing subscriber churn

ment might be forced to take

CLSA estimates that

the

rent mood - has made it clear

with more government control

the option available to it to con-

four-year moratorium will lead

that it is not interested in doing

and an eventual merger with

vert the due amount pertaining

to a cash flow saving of

so, VIL will be in the hot seat in

BSNL are downsides.

to the deferred payment at the

~80,300 crore for VIL till FY25.

that eventuality.

The other key area is tariff

end of the morotorium also into

So it will have more leeway to

To get its house in order in

increases. From VIL's point of

equity, increasing its holding

invest (especially as telcos move

four years, VIL needs to do two

view, the good thing is the gov-

further. Already

the

single

towards

5G),

stem

the

keythingsapartfromimproving

ernment'snudgetoalltelcoslast

largest shareholder in VIL -

haemorrhaging of its customer

its operational efficiencies. It

November that saw prepaid tar-

post-conversion, Vodafone plc

base (see chart) and move its

needstoraisefreshfundsquick-

iffs rise 20 per cent. Telcos say

and Idea together own 46.3 per

2G

and

3G

subscribers,

ly and increase tariffs.

they have informally indicated

cent - the government may

which account for 55 per cent of

The VIL board had cleared a

to the government an overall

end up with yet another trou-

its 253 million subscribers, to

~25,000-crorefund-raisingexer-

40 per cent increase over 12 to

bled telco in addition to BSNL,

4G (for example, Reliance Jio

cise backinSeptember2020but

18 months, which precludes the

the all-India service provider,

has only 4G customers). That

despitenumerouspromisesand

possibility of a continuing price

and MTNL, service provider for

way, it can increase average rev-

deadlines, that is still to happen.

war that brought VIL to its

Mumbai and Delhi.

enue

per

sub-

On Wednesday,

knees in the first place. That

VIL's top management led

scriber /user in a

In four years VIL has

Takkarsaidthegov-

would help VIL's sagging

by CEO Ravinder Takkar is con-

month (ARPU).

to not only stop the

ernment's backing

ARPUs, currently the lowest

fidentthattheliquidityproblem

However,ana-

has allayed poten-

amongst the private telcos, and

tide of losing

is over. In a video presser on

lysts say that VIL

tial investors' mis-

it meets one of the manage-

NEWSMAKER / SP MAURYA / MLA

Crossing the bar

take remedial action. Yogi Adityanath was

propelled centre-stage by the party leader-

ship at the last national executive where he

was made to open proceedings, a privilege

usually reserved for the party president. He

ADITI PHADNIS

has been given unprecedented positioning

rightnexttoPrimeMinisterNarendraModi.

The taxonomy of Swami Prasad Maurya's

All this signals to BJP-minded voters that

political career is well known: a five-time

their faith in him and the "double-engine"

MLA and an influential non-Yadav OBC

government is not misplaced. In this

leader from Uttar Pradesh who has won

scheme of things, Maurya and others of his

the last three Assembly elections from

ilk are just "turncoats".

Padrauna in the Kushinagar district of

But Dalit scholar and ideologue

Uttar Pradesh.

Chandrabhan Prasad doesn't agree. He

Maurya, 68, began his career as con-

feels Maurya's defection is a sign of a

vener of the Yuva Lok Dal in 1980s, went

process that is much more pervasive and

to the Janata Dal and joined the Bahujan

widespread than the BJP realises or con-

Samaj Party (BSP) in 1996. He won

cedes. "There was a time when OBCs

Assembly elections on a BSP ticket in 1996

meant only Yadav and Kurmi. Mayawati

and eventually became a minister in the

did include some lower OBCs in power

BJP-supported Mayawati government a

but to a limited extent. BJP gave a big boost

year later. He was considered second in

to non-Yadav OBCs. Lower OBCs had gone

command to Mayawati, and stayed in the

across to BJP en masse, on two grounds:

BSP for two decades. He was a minister

in touch with the BJP to join it or had

first, that the Yadav should go because

twice, leader of the Opposition twice and

sought a ticket. In the run-up to the 2017

they appropriate everything in the name

president of the party once. In 2016,

elections, the BJP had inducted many lead-

of OBCs; and second, the anti-Muslim

months ahead of 2017 assembly polls, he

ers from the SP, the BSP and the Congress.

polarisation," he said.

joined the Bharatiya Janata Party (BJP).

It gave tickets to more than 50 new party

Now, Prasad contends, people have

He sought and got a nomination for daugh-

members. As many as 12 of them even

tested that. "These guys who are running

ter, Sanghmitra, who has been a BJP MP

became ministers in the state government.

away - whether they ran away from the

since 2019. Now anticipating that someone

Maurya was one such.

BJP or not, that is not important. The

else might be nominated from Padrauna

Consider the context of this election.

important thing is they are running away

instead of him, he has crossed the floor,

If it had been normal times, despite polit-

from all that the BJP stands for. The edu-

joining the Samajwadi Party (SP). The BJP

ical disruptions such as demon-

cated Dalit middle-class is

is maintaining the moral high ground: that

etisation, the BJP would have

also moving away from

he asked for nominations for a host of fam-

rested a bit content: the bene-

BJP is maintaining

the BJP to the SP because

ily members and the party does not believe

ficiaries of various government-

the moral high

it judges that at this junc-

in nepotism so it could not oblige, and he

run schemes are willy-nilly

ground: that

ture it is more important

left the organisation. But the party had no

eager backers of the party and

he asked for

to defeat the BJP than

difficulty in giving his daughter a ticket in

in all states, BJP booth-level

nominations

installing a Dalit CM or

the Lok Sabha election though he was a

workers have corralled this

for a host of

PM," he added

serving minister in the state government.

group to great political benefit.

family members

Prasad hastens to add

End of story?

However, the current UP

that some of the caste

Not quite.

election is taking place against

groups that were the BJP's

Maurya represents the new strain in

the backdrop of a health crisis that, admit-

mainstay continue to be with it. "Thakurs

the BJP. It may be the biggest political party

tedly, no party could have averted. "People

and Vaishyas are still with the BJP. So are

on the planet. But not all of its members

are not blaming the BJP for Covid-19. But

Kurmis, Gujjar and Lodh castes - these

are true-bluesigned-up Rashtriya

they are angry at their reduced circum-

are 100 per cent with the BJP still." But he

Swayamsevak Sangh (RSS)-BJP and have

stances: loss of jobs, livelihood and lack of

has an interesting analogy. He says in the

come to it from other parties. Home

access to basic amenities like hospital beds

UP election, "Hindutva has become like

Minister Amit Shah made it a point to high-

and oxygen. No one has forgotten those

'Dalda', the iconic ghee brand that lost

light this when he commented with a chor-

dark days," said a professor at a major cen-

market share and became extinct because

tle during the Maharashtra Assembly elec-

tral university who did want to be identi-

of a rumour, so much so that even

tion campaign that everyone in every

fied. "There is a vast pool of the silent voter

Hindustan Lever could not revive it". He

political party barring former Congress

in UP who must not, cannot, be ignored".

says: "I see Maurya's exit as a part of a

chief minister Prithviraj Chavan had been

Recognising this, the party has tried to

process - not a one-off defection".

Wednesday, he downplayed the

will find it diffi-

subscribers but

givings and a deal is

ment's persistent demands.

also increase its

prospect of government inter-

cult to pay its lia-

expected soon.

As for VIL's competitors,

ARPU by about

ference or the possibility of a

bilities of around

The big ques-

they appear to have received the

three times from

board seat for the new share-

~159,000 crore to

the current ~109

tion, of course, is

clear message that the govern-

holder. Aditya Birla group and

the government

whether prospec-

mentwantsatleastthreeplayers

Vodafoneplcwillremainincon-

after the morato-

tive investors see

in mobile telephony. The gov-

India'snewCovidrulesaimto freeupresourcesbutcarryrisks

better to monitor the numbers of those in hospital, rather than infections, while targeting crowded spaces such as workplaces, dormitories etc with rapid testing.

trol, he assured a sceptical

rium, which include spectrum

value in having the government

ernment's shareholding doesn't

media. VIL's losses rose from

dues of ~108,000 crore and AGR

as the largest single shareholder

worry them either. They believe

~6,985 crore in Q4 FY2021 to

dues of ~50,400 crore, until its

and the two promoters diluting

that will continue to nibble at

~7,144 crore in Q2 FY2022. In the

cash flows improve substantial- their stake substantially from 72

VIL's market share, more so

same period, revenues shrank

ly. They agree that the company

to 46 per cent.

once 5G services are launched.

from~9,607croreto~9,406crore.

would need an ARPU of

Citibank and Credit Suisse

Still, it is worth wondering

The

Department

of

~280-300 to achieve cash

suggest that investors may view

what the government will do if

Telecommunications

(DoT)

breakeven. In other words, in

these developments favourably

VILisn'toutofthewoodsinfour

backed Takkar, emphasising

four years VIL has to not only

if the government involvement

years, not least because reviving

that VIL would not be consid-

stop the tide of losing sub-

weretoimplyamoresupportive

BSNL and MTNL remain huge

ered a public sector company

scribers but also increase its

policy environment. Banks, too,

challenges. A ~750-crore revival

butrunprofessionallyandinde-

ARPUbyaboutthreetimesfrom

willbemorereadytorestructure

package has been finalised but

pendently. DoT underlined the

the current ~109.

its loans with the government

BSNL's inordinate delay in

intention behind the move: To

The point here is that if VIL

backing the company. The gov-

launching 4G services, which

providetheindustrysomerelief.

is unable to repay the interest

ernment's stake could also get

looks possible only by the end

It would sell its VIL stake at an

on its spectrum dues, the

dilutedandtherecouldbeapos-

of this year when competitors

"appropriate time". VIL shares

government can move towards

sibility of it selling part of it to

will be offering 5G, suggests that

were converted at par; if the

converting those dues into

the prospective investor.

it's also the government that's

share price goes up, there is a

more equity. Though the gov-

Equally, the possibility of

taking a tough call on VIL.

KRISHNA N DAS

New Delhi, 13 January

India has eased its Covid rules on testing, quarantine and hospital admissions in a bid to free up resources for its neediest people, a strategy hailed by experts even though it carries the risk of a heavy undercount of infections and deaths.

The moves will offer a breathing space for healthcare facilities, often overstretched in a far-flung nation of

1.4 billion, as they battle a 33- fold surge in infections over the past month. This week, federal authorities told states to drop

mandatory testing for contacts of confirmed cases unless they were old or battling other con- ditions, while halving the isola-

tion period to a week and advising hospital care only for the seriously ill.

"Contact-tracing has been the most resource-intensive activity since the pandemic began," said Sanjay K Rai, a professor of community medicine at AIIMS, New Delhi.

"That strategy did not work and wasted resources," he added, saying serological surveys had shown it had detected only a fraction of infections. "The new one will ensure optimum utilisation of what we have got."

Four Indian epidemiologists echoed Rai's view, saying it was

They added that the guidelines on shorter isolation and hospital admissions were in line with global practice.

But some experts say the new rules could lull people into taking infections lightly until it is too late, especially in the rural areas, home to two-thirds of the population, where few seek tests unless directed by authorities.

"This new strategy will affect data from rural India or certain states in a disproportionate way," said Bhramar Mukherjee, an epidemiology professor at the University of Michigan.

REUTERS

POSTAL BALLOT NOTICE AND E-VOTING INFORMATION

NOTICE is hereby given that the Company is seeking approval of its Members by way of a special resolution for buyback of up to 4,00,00,000 fully paid-up equity shares of face value of `1 each, representing 1.08% of the total issued and paid-up equity share capital, at a price of `4,500 per equity share payable in cash for an aggregate consideration not exceeding `18,000 crore (excluding transaction costs, applicable taxes and other incidental and related expenses), on proportionate basis, through Tender Offer route through Stock Exchange mechanism, approved by the Board of Directors of the Company at its meeting held on Wednesday, January 12, 2022.

This buy-back is in accordance with the provisions of the Companies Act, 2013 and rules framed thereunder, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended from time to time, read with SEBI Circular CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 read with Circular CFD/DCR2/CIR/P/2016/131 dated December 9, 2016 and Circular SEBI/HO/CFD/DCR-III/CIR/P/2021/615 dated August 13, 2021, as set out in the Postal Ballot Notice dated January 12, 2022.

The postal ballot notice is available on the Company's website https://on.tcs.com/Notice-Postal-Ballot-2022, website of National Securities Depository Limited (NSDL) https://www.evoting.nsdl.comand the website of the stock exchanges where the equity shares of the Company are listed i.e. BSE Limited (BSE) (www.bseindia.com) and National Stock Exchange of India Limited (NSE) (www.nseindia.com).

In compliance with the General Circular No. 14/2020 dated April 8, 2020, General Circular No. 17/2020 dated April 13, 2020, General Circular No. 22/2020 dated June 15, 2020, General Circular No. 33/2020 dated September 28, 2020, General Circular No. 39/2020 dated December 31, 2020, General Circular No. 10/2021 dated June 23, 2021 and General Circular No. 20/2021 dated December 8, 2021 issued by the Ministry of Corporate Affairs, the Company has sent the postal ballot notice on January 13, 2022 only through electronic mode to those Members whose e-mail addresses are registered with the Company/Depositories and whose names are recorded in the Register of Members of the Company or in the Register of Beneficial Owners maintained by the Depositories as on Wednesday, January 12, 2022 ("Cut-offdate").

The Company has engaged the services of NSDL to provide remote e-voting facility to its Members. The remote e-voting period commences from 9.00 a.m. (IST) on Friday, January 14, 2022 and ends at 5.00 p.m. (IST) on Saturday, February 12, 2022. The e-voting module shall be disabled by NSDL thereafter. Voting rights of the Members shall be in proportion to the shares held by them in the paid-up equity share capital of the Company as on Cut-off date. Communication of assent or dissent of the Members would take place only through the remote e-voting system. Only those Members whose names are recorded in the Register of Members of the Company or in the Register of Beneficial Owners maintained by the Depositories as on the Cut-off date will be entitled to cast their votes by remote e-voting. Once the vote on the resolution is cast by the Member, he/she shall not be allowed to change it subsequently.

The Members whose e-mail address is not registered with the Company/Depositories, to receive the postal ballot notice may register on or before 5:00 p.m. (IST) on Saturday, February 5, 2022 by clicking the link: https://tcpl.linkintime.co.in/EmailReg/email_registerand completing the registration process as guided therein.

For details relating to e-voting, please refer to the postal ballot notice. In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual for Shareholders available at the download section of https://www.evoting.nsdl.com. For any grievances connected with facility for voting by electronic means, please contact Ms. Pallavi Mhatre, Manager, NSDL, Email: evoting@nsdl.co.in, toll free no.: 1800 1020 990 /1800 224 430.

The Board of Directors of the Company has appointed Mr. P. N. Parikh (Membership No. FCS 327) and failing him Ms. Jigyasa Ved (Membership No. FCS 6488) of Parikh & Associates, Practising Company Secretaries, as the Scrutinizer to conduct the postal ballot through remote e-voting process in a fair and transparent manner.

The result of the postal ballot will be announced at or before 5:00 p.m. (IST), Tuesday, February 15, 2022. The said results along with the Scrutinizer's Report would be intimated to BSE and NSE and will also be uploaded on the Company's website https://www.tcs.com/events/tcs-buyback-2022and on the website of NSDL www.evoting.nsdl.com.

For TATA CONSULTANCY SERVICES LIMITED

Sd/-

Pradeep Manohar Gaitonde

Company Secretary

Place : Mumbai

Date : January 13, 2022

Registered Office:

9th Floor, Nirmal Building, Nariman Point, Mumbai 400 021. Tel: 91 22 6778 9595 Fax: 91 22 6778 9660

Email: investor.relations@tcs.comWebsite: www.tcs.com

Corporate Identity Number (CIN): L22210MH1995PLC084781

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Aditya Birla Money Ltd. published this content on 15 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 January 2022 07:54:01 UTC.