iWorld
Spice Telecom plans $150 mn IPO
BANGALORE: Karnataka’s first mobile telephony service provider Spice Telecom (Spice) has plans for a public issue totaling $150 million.
Modicorp (51% stake) along with Telekom Malaysia (49% stake) own Spice. The red herring prospectus will be filed with Sebi and the IPO is likely to open in end March this year with Spice to planning to dilute around 15-20% of their stake.
Spice has recently been awarded a railway outsourcing contract by IRCTC to provide services to the customers for a payment of Rs 1 billion over 10 years. The scope of work includes providing customers with information services across India, IVR, information and other services. The voice call to IVR ratio is around 20:80 according to Spice officials. The contract commences from March this year.
Spice is present in 2 circles – Karnataka and Punjab with a customer base of around 2.5million of the total 100 million plus Indian subscribers. India has over 6000 railway stations and almost 80-90% of these are covered by mobile service providers. Spice is in negotiations with other service providers for carriage and other services in the other circles. This contract means that over the next ten years other service providers can provide railway information only through Spice.
To ramp up and meet the service requirements, Spice plans to set up 4 regional hubs all over the country. This contract has been obtained by an equally shared joint venture between Spice and Spanco Telesystems (Spanco) from Mumbai. Spanco are to be the hardware system integrators for this venture.
Speaking during a press briefing in Bangalore yesterday, Modicorp chairman BK Modi said, “Railways cover the length and breadth of the country physically, Spice will help connect the country telephonically,” while announcing that Spice planned to have kiosks on every platform in the country, where valid passengers can pick up sub $20/- mobile and with a Rs 50/- chip that can receive incoming calls free.
“Currently we were lacking in distribution. Now with 6,000 railway stations we can take telephony to the bottom of the pyramid, a mobile is no longer a luxury, it is a necessity, and with 4 billion passengers that travel by train, the aim for reaching a subscriber base of 500 million by 2010 could be met even earlier,” Modi said.
Spice along with Taiwanese suppliers provide low end as well as high end mobile phone instruments.
Unconfirmed reports also indicate that Bollywood diva Katrina Kaif has been appointed brand ambassador for Spice. Priyanka Chopra, whose three year contract ends in December 2007, will also continue as brand ambassador, a company source says.
iWorld
Warner Chappell Music launches India ops, Jay Mehta to lead unit
WMG shifts to direct model, unifying publishing and recorded music
MUMBAI: Warner Chappell Music has officially launched direct operations in India, marking a strategic shift by parent Warner Music Group to deepen its presence in one of the world’s fastest-growing music markets.
The move replaces the company’s earlier sub-publishing model with a full-fledged, on-ground operation, aimed at giving Indian songwriters stronger access to global networks, rights management tools, and creative infrastructure.
To lead the push, Jay Mehta has been handed an expanded mandate. Already serving as managing director of Warner Music India, Mehta will now oversee both recorded music and publishing across India and neighbouring South Asian markets, effectively bringing the two sides of the business under one roof.
The unified structure is designed to streamline how artists and songwriters work with the company, offering a more integrated ecosystem that spans compositions, recordings, and global distribution.
Warner Music Group managing director, recorded music and publishing, India and SAARC Jay Mehta said, “India’s songwriters are world-class, constantly redefining genres and pushing creative boundaries. By establishing a direct footprint for Warner Chappell, we’re bridging the gap between local brilliance and global opportunity.”
The timing is no coincidence. According to CISAC, creator collections in India jumped 42 per cent year-on-year to Rs 7 billion in 2024, while IFPI ranks India as the 15th largest recorded music market globally. At the same time, the industry is undergoing a structural shift, with independent and non-film music gaining ground over traditional Bollywood soundtracks.
Warner’s bet is that a direct presence will help it capture this changing dynamic. The company is also offering India-based creators access to its proprietary tools, including AI-powered royalty matching systems and real-time analytics platforms, aimed at improving transparency and earnings visibility.
Warner Chappell Music co-chair and CEO Guy Moot said the move is about shaping a publishing ecosystem that “works for creators and ensures their music is heard, protected, and rewarded everywhere.”
Meanwhile, Warner Music Group CEO Robert Kyncl underlined India’s importance to the company’s global strategy, noting that the new structure creates a “unified powerhouse” for both creators and audiences.
With local studios, global reach, and tighter integration across its business lines, Warner is clearly doubling down on India. And as streaming habits evolve and independent music rises, the company is positioning itself to be not just a participant, but a key architect of the country’s next music chapter.
