Page 22 - Vodafone Idea

Voda Idea soars 10% as Kumar Mangalam Birla rejoins board after two years

Birla's re-appointment on the board signals the group's commitment to the company as it continues its efforts to find an investor.

Kumar Mangalam Birla returns to Vodafone Idea board as additional director

Aditya Birla Group Chairman Kumar Mangalam Birla has returned to the board of debt-ridden Vodafone Idea as an additional director in a non-executive and non-independent role, the telecom firm said on Thursday. Birla stepped down from the board of Vodafone Idea Ltd (VIL) in August 2021 for his role as non-executive chairman of the company. "...the Board of Directors of the Company has, at its meeting held today, appointed Mr Kumar Mangalam Birla, as an Additional Director (Non-Executive and Non-Independent) with effect from 20 April 2023," VIL said in a regulatory filing. Aditya Birla Group, one of the promoters, holds around 18 per cent stake in VIL and Vodafone Group around 32 per cent. Birla in the past had offered to give up his stake in VIL. VIL, at present, is reeling under a debt of Rs 2.22 lakh crore, comprising deferred spectrum payment obligations of Rs 1.39 lakh crore and adjusted gross revenue liability of Rs 69,910 crore that are due to the government. The debt from b

Vodafone Idea reappoints Kumar Mangalam Birla non-executive director

Birla had stepped down from the post of non-executive chairman of the company in August 2021

Fixed broadband may trigger next leg of growth for RJio, Airtel: Analysts

Near-term overhang of 5G related capex and subscriber churn should be watched by investors, they said

Telecom, technology firms lock horns over 6GHz spectrum with 5G-like speed

Currently, the 6GHz band is used by the Indian Space Research Organisation to conduct satellite operations

Telecom sector to face slower mobile revenue growth in Q4: Analysts

Continuing churn in customer addition to hold back ARPU growth

Stocks to watch: TCS, Patanjali Foods, Glenmark Pharma, Vi, DLF, Eris Life

Stocks to watch today: From TCS to Patanjali Foods, here are stocks to watch out in Friday's trading session

CARE upgrades outlook on Vodafone Idea to positive; reaffirms ratings

The ratings, however, remains underpinned by VIL's deteriorated financial risk profile, wherein, the tangible net-worth has eroded

Top headlines: Adani promoters sell stakes, AI plans single pay structure

Business Standard brings you the top headlines at this hour

In search of funding, Vodafone Idea dials KKR and Temasek Holdings

Talks are currently in the early stages

Median download speeds in India have more than doubled since launch of 5G

In terms of internet speed, India now stands ahead of some of the G20 countries, including Mexico, Russia, and Argentina

Reliance Jio second-strongest telecom brand in world, says report

Based on the scores, Reliance Jio is behind only Swisscom and ahead of Etisalat, MTC, and Singtel

Can Vodafone Idea survive?

The biggest hurdle in the way of its long-term survival will be 5G, which has changed the telecom landscape and made it the weakest player in the sector

VIL allots 12,000 optionally convertible debentures to ATC Telecom Infra

Vodafone Idea Ltd (VIL) on Monday said it has allotted 12,000 optionally convertible debentures to ATC Telecom Infrastructure. The balance 4,000 debentures will be allotted on receipt of application form and subscription money and due intimation of the same shall be filed as necessary, according to a regulatory filing. "... it is hereby informed that the capital raising committee of the Board of Directors of Vodafone Idea Limited has, at its meetings held today that is 27 February, 2023, allotted a total of 12,000 number of unsecured, unrated and unlisted Optionally Convertible Debentures of the face value of Rs 10,00,000 each (OCDs) to ATC Telecom Infrastructure Private Limited," it said. On February 25, VIL's shareholders approved the preferential issuance of up to Rs 1,600 crore of OCDs to American Tower Corp (ATC). In this regard, the special resolution was cleared at an Extraordinary General Meeting (EGM) of Vodafone Idea held last week. According to the voting results, overa

DoT to approve Vodafone Idea's third quarter payment plan soon: Report

Vi had earlier submitted a payment plan as it has paid only 10 per cent of the dues for the period

Vodafone Idea to give 5G roll-out a push after securing funds: CEO Moondra

The telco currently owes Rs 41,300 cr in license fees and spectrum usage charges to govt

Need to make investments to improve cash flows: Vodafone Idea CEO

Debt-ridden telecom operator Vodafone Idea needs funding to make investments and vendor dues will be cleared once it starts generating cash from the investments, a top official of the company said on Wednesday. Vodafone Idea (VIL) CEO Akshaya Moondra during the company's earning call said that the experience on 5G is not much different for consumers at present unless the network is made ubiquitous. "It is very clear that we need to get funding to make investments and improve our operating cash flows to be then able to improve our vendor payment situation. Currently, we are prioritizing all payments which are essential for the continuation of operations," Moondra said. He said that all vendors have been very supportive during the difficult period that the company has been going through. "As we get the funding and start making investments, as we see cash generation from operations is going up, that will be the basis of our starting to clear the backlog," Moondra said. He said that t

Sensex jumps 243 pts on late buying, Nifty reclaims 18,000; RIL gains 2%

CLOSING BELL: The BSE Sensex gained more than 600 points from the day's low; Tech Mahindra, Bharti Airtel and auto shares were the other major gainers on Wednesday.

Aditya Birla Group looking to raise funds for Vi at promoter level: Report

The group is reportedly looking to raise long-term debt for ailing telco Vodafone Idea (Vi) and use preferential share allotment as the route

Stocks to watch: Eicher Motors, Voda Idea, Siemens, Bharat Forge, ONGC

Stocks to watch today: While Eicher Motors posted 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, Vodafone Idea's net loss widened 10.5 per cent YoY to Rs 7,990 crore