The new rules state that like an agent or canvasser, app-based ride-hailing firms will have to obtain licenses to operate from state authorities under the guidelines laid down by the central government.

Last week, telecom minister Ravi Shankar Prasad said that India would complete the much anticipated 5G auctions by 2019 end or early 2020. Amidst this, Broadband India Forum, a think tank focused on digital transformation, has written to the government stressing on the need for a reasonable reserve price and adequate spectrum to a successful 5G auction and thereby curtailed losses to the country.

Chinese tech major Lenovo, the worlds top personal computer maker, is aiming to cross revenue of $1.5 billion from the Indian market.

Murthy said the promoter currently holds 48 percent of the company, which will be reduced to 30 percent following the sale.