The Telegraph
Since 1st March, 1999
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Music to investors’ ears

Mumbai, June 16: In an effort to widen its subscriber base, Reliance Infocomm has planned a special discount scheme for Reliance’s three million shareholders, giving them a benefit of up to Rs 4,100.

Reliance Infocomm plans to launch a pre-paid card facility for mobile services which would be technically ready in two months, Reliance chairman and managing director Mukesh Ambani said here today.

“We propose to give Reliance shareholders a Rs 850 discount on initial payment, over and above that for other subscribers, and free Rs 100 credit on one connection for six months, aggregating benefit of Rs 1,450,” Ambani at the company’s annual general meeting.

Ambani said for Reliance’s shareholders who opt for two connections, the total benefit would be up to Rs 4,100 as the Rs 100 credit would be for 12 months per connection.

Reliance Infocomm has 15 lakh customers using digital services of Reliance IndiaMobile. It was also in the process of sending subscription forms to the shareholders, the officials said.

“Providing for a special attractive scheme for shareholders for the Reliance IndiaMobile service was always on my mind. However, it was a question of timing, whether to make a surprise announcement at the AGM or as a present during Diwali,” Ambani said.

Analysts tracking the company have always talked about the huge hidden potential available with the company in leveraging its vast shareholder base to its new businesses like mobile telephony, insurance etc.

Shareholders using the phone today complained about the services and Ambani who kept nodding sympathetically, confidently said, “Our shareholders will be proud of us by next year. The deficiencies in the services are being ironed out.

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