Page 19 - Vodafone Idea

Vodafone Idea plans to raise up to Rs 45,000 crore through equity, debt

Funds to be spent on 4G & 5G networks, capacity expansion

Stocks to watch: Paytm, Voda Idea, CMS Info, Canara Bank, Andhra Cements

Stocks to watch on February 27, 2024: Vodafone Idea is likely to raise equity from new investors, diluting the stakes of existing shareholders when its board meets today

Voda Idea likely to bring in new equity partners; board meeting on Tuesday

The company's board of directors is meeting this Tuesday to decide on the amount of the fundraise

Vodafone Idea board to meet on Feb 27 to consider fundraising proposals

Billionaire industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla on Thursday underlined the group's firm commitment to the cash-strapped telco Vodafone Idea, and asserted that efforts are on to rope in external investors. On how soon such investors could be onboarded, Birla told PTI, "We are making good progress but can't put in a timeline." "We remain very committed to Vodafone Idea and like we have said in public domain, efforts are on to get outside investors," he said, while speaking at a conference here to mark the launch of the group's decorative business.

Vodafone Idea hints 5G roll-out in 6-7 months after getting funds

Debt-ridden telecom firm Vodafone Idea on Tuesday said it will need 6-7 months to roll out 5G services after securing funding, for which discussions with investors are underway. Vodafone Idea CEO Akshaya Moondra during the company's earnings call said that the telco is in discussion with various vendors for the 5G roll-out as well as developing use cases. "Having made large investments and no monetisation happening, I think the industry does need to see some movement towards monetisation. Let's say if we are launching 5G probably in the next 6-7 months time then we will have a better idea what is happening on the monetisation front. After funding is there, we will need some time to roll out. Let's say 6-7 months," Moondra said. He said the company will be able to roll out 5G only after funding is in place. However, he refused to reply to any question on the status of funding as it is in the discussion stage. "As for funding, it is in progress with investors. Given the nature of the

Before 5G launch, we will have clarity on how to monetise it: Voda Idea CEO

Launching 5G in October 2022, Vi's two main competitors-Reliance Jio and Bharti Airtel-have already launched 5G services in 7,764 and more than 5,000 cities, respectively

Stocks to watch on Jan 30: ITC, Bajaj Finance, Epack, Vi, NTPC, Havells

Stocks to watch on January 30, 2024: Epack Durable will make its market debut today. The issue price is fixed at Rs 230

Vodafone Idea Q3 results: Loss narrows 12.5%, ARPU rises to Rs 145

Average revenue per user (ARPU) for the quarter rose to Rs 145, up from Rs. 142 and Rs. 139 in the preceding two quarters respectively

Vodafone Idea may post marginal revenue growth in Q3, say analysts

Vi's results for the third quarter are set to be announced on Monday

Ram temple consecration: Voda Idea enhances network capacity in Ayodhya

Telecom operator Vodafone Idea on Sunday said it has enhanced network infrastructure and capacity across all major areas of Ayodhya city, ahead of consecration of the Ram temple. Vodafone Idea users can expect elevated and consistent connectivity experience like high-speed data transfer, clear voice calls and seamless video streaming, the company said in a release. Covering all major points across the city, Vodafone Idea has added new sites and upgraded and reframed L2100 spectrum capacity across the nooks and corners of the city including Ayodhya Railway Station, Ram Mandir Campus, the airport, railway station and the connecting highways to Lucknow and Varanasi. This has been done with the support of DoT, the Government and local authorities such as Ayodhya Development Authority, Department of Public Work Department, Airport Authority, Police, the company said. Department of Telecom and other departments ensured speedy approvals in providing space for towers, movement of material

TMS Ep606: NRI homes, coffee culture, Vodafone Idea, maritime corridor

Are NRIs driving up prices of homes? Has India matured as a coffee drinking nation? Is the rally in Vodafone Idea overdone? What is the Chennai-Vladivostok maritime corridor? Answers here

Vodafone Idea imposed Rs 13.16 cr penalty by addl commissioner in GST case

GST additional commissioner's office in Chandigarh has imposed a Rs 13.16 crore penalty on Vodafone Idea, the company said in a regulatory filing on Thursday. According to the filing, the order was passed on January 10 against the debt-ridden telecom firm for alleged "wrongful transition of CENVAT credit to Goods and Services Tax (GST) regime". "Order passed u/s 74 of Central Goods and Services Tax Act, 2017, inter-alia, levying a penalty of Rs 13,16,53,661," Vodafone Idea (VIL) said in the filing. The company said the maximum financial impact is to the extent of the tax demand, interest and penalty levied. "The Company does not agree with the Order and will take appropriate legal action(s) for rectification/ reversal of the same," VIL said. The order was issued by the Office of the Additional Commissioner, Central Goods & Service Tax in Chandigarh.

Reliance Jio gained 3.15 mn users in October; Vi lost 2.04 mn: Trai

Bharti Airtel, the second-largest player in the market, saw its subscriber count increase by 0.35 million, much lower than the 1.32 million users the company added in September

VIL to seek reversal of Rs 10.7 cr penalty order received under CGST Act

Vodafone Idea on Thursday said that it has received an order under the Central Goods and Services Tax Act, 2017, entailing a penalty of Rs 10.76 crore. The troubled telco further said it will seek rectification and reversal of the order, as it does not agree with it. In a BSE filing, VIL said the contravention related to the "alleged wrong transition of CENVAT credit into GST regime". Citing details it said the order was received by the company under the Central Goods and Services Tax Act, 2017, entailing a levy of a penalty of Rs 10,76,56,733. The order was received on January 3, 2024. "The company does not agree with the order and will take appropriate action(s) for rectification/ reversal of the same," Vodafone Idea said in the filing.

Jio adds 3.16 mn subscribers in October; Vi loses 2.04 mn: Trai data

India's largest telecom operator Reliance Jio added 31.59 lakh mobile users while rival Bharti Airtel's subscriber gain came in at 3.52 lakh in October 2023, as per monthly subscriber data by TRAI. There was no relief for the troubled telco Vodafone Idea on subscriber front, as it lost 20.44 lakh wireless subscribers in October. With the addition of 31.59 lakh users, Jio's total wireless subscriber count climbed to 45.23 crore in October from 44.92 crore in September. Sunil Mittal-led Airtel's wireless subscriber gain of 3.52 lakh pushed up the telco's user tally to 37.81 crore in October. The subscriber losses of Vodafone Idea Ltd (VIL) dragged its wireless user base to 22.54 crore in October, the data by Telecom Regulatory Authority of India (TRAI) showed. Cash-strapped VIL has been battling fundraising woes and subscriber losses.

Air India appoints P Balaji as chief of regulatory and corporate affairs

P Balaji resigned from telecom operator Vodafone Idea on Tuesday after a decade-long stint. He is set to assume his role at Air India on January 11

Not in talks with Musk's Starlink for a tie-up, says Vodafone India

On Monday, the Bombay Stock Exchange, where Vodafone Idea's stock is listed, had asked the company for a clarification, citing the BusinessWorld report

Markets witness stock-specific action, benchmarks ended with wild swings

Railtel, YES Bank, Vodafone Idea, and BHEL rose 2-6 per cent

Vodafone Idea hits over 4-year high; zooms 39% in 2 days on heavy volumes

The stock zoomed 15% to Rs 18.42 on the BSE in Monday's intra-day trade and surpassed its previous high of Rs 18.30 touched on April 1, 2019.

Vi shares rise 22% to 1 yr high as company nears fundraising deadline

The company has said multiple times that any new funding by banks will be used for the deployment of capital expenditure, and not to roll over existing dues