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Alcatel Spacecom, Arianespace buy 13 % stake in Agrani for $ 20 m
International satellite major Alcatel Spacecom and the European rocket launch agency Arianespace have cleared the decks to buy into the Subhash Chandra-promoted Agrani Satellite Services Ltd (ASSL).
It is understood from FIPB (Foreign Investment Promotional Board) sources that Alcatel Spacecom and Arianespace have made individual submissions to the board for their investments in ASSL to the tune of $15 million (9.75 per cent) and $ 5 million (3.25 per cent) respectively for a combined 13 per cent stake in the Rs 1,1500-million satellite project.
The submissions were made yesterday. These individual submissions are under the overall umbrella of up to 74 per cent FDI (foreign direct investment) approved by FIPB on 3rd October. This follows the clearance given on 21 September by the cabinet committee for economic affairs, Ministry of Commerce and Industry, for the proposed investment.
Meanwhile, ASSL is reportedly in talks with a global satellite major for an alliance involving technical, commercial and operational cooperation and a minimum investment of 26 per cent in the company.
ASSL is raising funds for the project at a 1.5:1 (Rs 6900 million: Rs 4600 million) debt equity ratio. Chandra has committed to underwriting the Rs 4600 million if the amount cannot be raised through other sources, as well as expenditures already incurred.
As of now the lead financier for the project from India is the Industrial Development Bank of India (IDBI), which has sanctioned Rs 3,000 million. The Life Insurance Corporation (LIC) has cleared another Rs 750 million for the project.
With this latest infusion, ASSL expects to close debt financing of the project by end-October or early-November.
Alcatel is supplying the satellite which will be delivered 19 months after financial closure. The satellite, with a life-span of 14 years, has 24 ‘C’ band and 14 ‘ku’ band transponders. The promoters expect the project to be cash positive at the start of the second year of operations.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
