HOME > BUSINESS > Idea CEO Himanshu Kapania to get salary of up to Rs 10 cr pay plus in-kind benefits

Idea CEO Himanshu Kapania to get salary of up to Rs 10 cr pay plus in-kind benefits

himanshuIdea Cellular CEO Himanshu Kapania will be one of the highest paid executives in India after his reappointment for five years starting April next year.

According to the plans disclosed by the company, Kapania will be offered the following terms.

A basic pay of Rs 12.9 lakhs plus a special allowance of 14.8 lakhs, coming to a total of Rs 27.7 lakhs per month as his fixed pay. In addition, he will be eligible for variable or performance-related pay of up to Rs 7 cr per year (Rs 58.3 lakhs per month), taking his total potential cash payout to up to Rs 10.3 cr per year (Rs 86 lakhs per month) for the year starting next April.

The exact amount of variable pay, however, remains to be finalized by the board of directors.

In addition, Himanshu Kapania will also get a number of perks, including housing rent allowance of up to Rs 6.45 lakhs per month in case he decides not to use company-provided accommodation, and payments for his bills related to electricity, gas, water, telephone and “other reasonable expenses,” medical needs, corporate club membership and so on.

He will also get two company-maintained cars for his use.

His pay will be revised at the end of next year. However, there will be an upper limit of Rs 50 lakhs per month for fixed pay (which will be Rs 27.7 lakhs in the first year) for the next five years.

Idea Cellular is arguably India’s best run telecom firm as it does not have humongous debt like in case of Bharti Airtel and Reliance Communications. Idea is without doubt the fastest growing telecom company and was for long considered a vulnerable player that would ultimately be bought out by one or the other of its larger peers.

However, the Aditya Birla Group company has proven its critics and skeptics wrong over the last three years. It is seen as an aggressive player in the 4G space, where it is expected to be the third biggest player after Bharti Airtel and Reliance Jio.

Follow ULTRA.news
FITE says 11 cases against Tech Mahindra layoffs moved to courts The Maharashtra unit of Forum for IT Employees said 13 disputes over forced resignations and  layoffs at IT organizations have been moved to the labor courts after failed mediation attempts by state labor authorities.FITE meets Maharashtra CM11 of the 13 cases were filed...
Idea Cellular likely to expand 4G offers this year Idea Cellular, India's third biggest telecom player by revenue, is likely to see its 4G data capacity rise to three times the current level over the next nine months, which is likely to push the price of data down further.This could impact Reliance Jio's ability to stop its d...
IT companies using illegal tactics to force workers to resign: FITE The Forum for IT Employees, arguably the IT workers rights organization with the largest number of well-wishers and supporters, accused IT companies of using illegal and unethical means to force their workers to submit their resignations.In a meeting with Maharashtra Chief Mi...
Vodafone slashes 4G offer prices after Airtel, Idea reveal explosion of data Vodafone India renewed efforts to promote its cut-price voice and data offerings in recent days as the latest quarterly numbers from rivals Idea Cellular and Bharti Airtel suggested they had given out bigger discounts in the April-June period than anyone had expected.Earlier ...
WATCH HERE: Mukesh Ambani speech on Reliance Jio at AGM today Mukesh Ambani, chairman of Reliance Jio will make a 'significant announcement' about the 4G wireless service provider's offerings at 11 AM on Friday while delivering his annual speech at its parent's annual general meeting.A live webcast of Mukesh Ambani's speech at the AGM, a...
With tariff change, Idea Cellular 4G data now cheaper than Reliance Jio Idea 4G tariff planWith Reliance Jio raising the price of its 1GB-per-day pack from Rs 309 to Rs 399, Idea Cellular has managed to beat the new operator in this segment, though not by much.Idea Cellular offers 1GB/day for 84 days at Rs 397, making it cheaper by 2 rupees....
RELIANCE JIO unveils NEW PLANS valid from today Reliance Jio's new tariff plansIndia's biggest wireless data provider Reliance Jio unveiled a new set of plans as it continues to migrate its customers towards paid plans.The key difference between the new plans and the previous Dhan Dhana Dhan offer is that the new plan...
Vishal Sikka says Infosys trying to retrain employees displaced by automation Infosys Chief Executive Officer Vishal Sikka said his company was not overwhelmed by the problem of automation and that it is trying to retrain its staff displaced by automation.Sikka was responding to a question on 'what happened to the 11,000 employees' displaced by automat...
Who’s responsible for IT job losses? Ask this recruiter It's become something of a fashion to complain about job losses in India's big IT services firms.Companies like Infosys Ltd, Tata Consultancy Services, Wipro and Cognizant employ over a million people in the country, and have been letting go off tens of thousands this year as...
Reliance Jio tops in user satisfaction, but call drop concerns remain Percentage of customers giving 4 or 5 starsReliance Jio users are a happier lot than customers of other services, but call drops and network availability remain key concerns, according to a survey conducted by a market research firm Velocity MR.The firm conducted a study...
Grasim-Adiya Birla Nuvo merger approved, ABFSL listing soon The Aditya Birla Group said it got the approval of the Company Law Tribunal for the merger of Aditya Birla Nuvo Ltd and Grasim industries Ltd and the listing of Aditya Birla Financial Services Ltd.The approval was obtained from the Ahmedabad bench."The approved Scheme ha...
New technology makes telecom cheaper, but hurts tower companies A technology that has been around for almost a decade is now getting deployed on a large scale by Indian telecom operators to deploy 2G, 3G and 4G networks using the same base station.A Nokia illustration on old vs new situationThis could hit the revenue and growth prosp...
Bharti Airtel to offer cheap 4G plans for all dongle users – report With new operator Reliance Jio snapping at its heels, incumbent Bharti Airtel has decided to slash its data prices for everyone with the introduction of new 4G dongle plans, Telecom Talk blog reported quoting unnamed sources.At present, Bharti Airtel does not offer any plan t...
Airtel, Idea and Vodafone close to network sharing deal Fierce competition from new entrant Reliance Jio is pushing the incumbent telecom operators Bharti Airtel, Reliance Jio and Vodafone India to accelerate negotiations to allow them to use each other's full networks.As of now, these operators only share 'passive' or 'dead' in...
Reliance Jio puts more 4G spectrum to use to increase speeds Reliance Jio, the 4G operator that has taken the market by storm, has deployed the extra spectrum that it bought last year, increasing the total spectrum in use in most markets by 20-25%.In most circles, Jio is operating with about 40-50 MHz of spectrum, and with the new sp...
4,196 villages lose Idea Cellular 2G signal as 876 towers taken offline Idea's tower growth, by technologyIdea Cellular, India's third largest telecom operator by revenue, reported a shrinkage in the area and population covered by its 2G network.The number of villages covered by Idea's 2G signals decreased by 4,196 to 3.89 lakh by March end ...
Idea Cellular to spend Rs 6,000 cr on VoLTE, expansion of 4G & 3G this year Idea Cellular, the telecom company controlled by the Aditya Birla group, said it will spend Rs 6,000 cr to expand its 3G and 4G services in the current financial year.Idea tower additions per yearThe planned investment of Rs 6,000 cr has been "earmarked for expanding bro...
Cognizant says will layoff employees, close facilities this year Cognizant, one of the largest employers in India, said it will let go off some of its employees and shut down some of its facilities as part of its ongoing shift away from traditional outsourcing to 'digital transformation work'.The company said it is 'accelerating its shift...
Cognizant layoffs may be heading to TN labour courts as FITE preps petitions Forum for IT Employees or FITE -- an organization that claims to speak for ordinary IT workers -- said a group of employees of Cognizant Technology Solutions will approach the office of Labour Commissioner of Chennai today."Affected CTS employees file petition to the Labour ...
Bots cut Wipro employee strength by 12,000 A NASA RobotA pioneering artificial intelligence program that started getting deployed around mid-2016 has helped Wipro Ltd reduce its employee numbers by 12,000 people, the company said in its recent quarterly update."The HOLMES platform generated productivity worth ove...
Wipro refuses to reveal how many employees are being laid off Wipro Ltd, one of India's top employers, refused to confirm the exact number of people that it was laying off as part of its annual appraisal process."It is part of the internal appraisal process," company officials said, refusing to go into further details.The media ha...
Why Reliance Jio will keep data prices low for 2 years: Credit Suisse explains Wireless data prices in India, which crashed from Rs 250 per GB to about Rs 10 per GB after the entry of Reliance Jio, will continue to remain under pressure for at least two more years, said analyst firm Credit Suisse.That is the minimum amount of time that the new entrant w...
Net Neutrality: Vodafone wants right to manipulate Internet videos Telcos want to be able to reduce video qualityVodafone India said it would like to be given the power to manage the size of videos watched by users on its mobile network and lower it automatically "for overall quality welfare".Participating in the discussions related to ...
Telcos Change Tack as Net Neutrality Fight Enters Final Round in India A campaign by Internet Freedom FoundationIf you thought the fight over net neutrality was over with the sending of 1 mln emails to the TRAI two years ago, think again.The telecom service providers, who lost out that in the first round, are back. This time, however, their...
Indian IT industry facing layoffs as conditions worsen, warns Assocham Trump unveiled his 'Buy American, Hire American' program yesterdayIndian IT companies are bound to see "some laying off" of their work force back home due to various negative forces impacting the industry, Assocham -- an association of various industries -- warned."With ...