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Tata Projects bags Rs 3,000 crore project in Chhattisgarh
MUMBAI: Tata Projects Limited recently announced that its ‘Smart Cities Business Unit’ has been awarded Bharat Net project worth Rs 30.57 billion in Chhattisgarh.
The project involves laying of Optical Fibre Network that follows ring architecture with Internet Protocol – Multi Protocol Label Switching (IP-MPLS) technology.
“We are very delighted to receive this prestigious project under the Central government’s ambitious Digital India initiative. We are confident that once the project is completed it will help in strengthening the State’s economy and enable local people to lead their lives with much ease” Tata Projects Limited managing director Vinayak Deshpande as quoted by Business Standard.
About 2.6 crore people of the state will directly be benefit with this infrastructure development and important services including PDS, 102 (Free Ambulance Service) and 108 (Emergency service) will be effectively executed. This project will link 85 blocks and 5,987 gram panchayats across the 27 districts in the state by providing broadband and mobile phone connectivity.
Tata Projects will lay 48 crore Optical Fibre Cable (OFC) Network across the state covering 32,466 kms resulting in high speed broadband between 1Gbps to 10 Gbps, which will be provided free of cost through Wi-Fi spots.
The implementation period for the project is 12 months from starting of work.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
