Page 26 - Vodafone Idea

Financial, IT shares drag Sensex 453 pts, ends below 60K; Nifty near 17,850

Closing Bell: Nifty IT fell 2 per cent followed by 0.7-1 per cent cuts each in Bank, Financial, Metal, Realty and Pharma indices. FMCG and Consumer Durables outperformed with fractional gains

Vodafone Idea approaches banks for loans worth Rs 7,000 crore: Report

The lenders have, however, sought clarity from the telco on the Government's potential shareholding and its plans to infuse capital in Vi

Stocks to Watch: RIL, Ambuja Cements, IDBI Bank, Voda Idea, VLS Finance

Stocks to watch today: Sebi has acceded to the central government's request to reclassify its shareholding in IDBI Bank after its disinvestment as "public holding"

Capital infusion in Vodafone Idea under discussion: Ashwini Vaishnaw

Debt-ridden telecom firm Vodafone Idea has various requirements, including infusion of capital, and discussions on this front are going on, telecom minister Ashwini Vaishnaw said on Thursday. Vodafone Idea (VIL), reeling under debt burden of over Rs 2 lakh crore, has opted for converting about Rs 16,000 crore of interest liability payable to the government into equity, which will amount to around a 33 per cent stake in the company while promoters' holding will come down to 50 per cent from 74.99 per cent. 'Vodafone (Idea) has many requirements. It has a particular requirement of capital. How much capital, who will infuse? All those things are under discussion at this point of time," Vaishnaw said. VIL has offered a stake to the government at a par value of Rs 10 per share and the government is waiting for the company's shares to stabilise at Rs 10 apiece. "The responsibility of capital has to come from various sources. The company just doesn't require conversion. It requires capita

UK-India trade body writes to envoy on Vi equity conversion delay

Considering that the issue may gather momentum in the upcoming months, Vikram K Doraiswami, the Indian high commissioner in the UK, has sought guidance from the finance ministry

Promoters unwilling to infuse capital in Vi, govt stake unviable: Report

The promoters are willing to infuse Rs 2,000-3,000 crore but it is too less to revive the company

Telecos divided over benefits of artificial intelligence, big data tech

Operators have taken up conflicting positions on the need to create common AI terminology standards before leveraging the new-age technology in the telecom industry

No base station of 5G set up by Vodafone Idea in India yet: Report

Minister of state for communications Devusinh Chauhan said in the Rajya Sabha that Jio and Airtel accounted for a total of 20,980 5G base stations in India

Ericsson scaling up production in phases at Pune to meet India' 5G demand

Ericsson is supplying its equipment to both Bharti Airtel and Reliance Jio while Vodafone Idea is yet to finalise its 5G plans

Mobile user base dips for second straight month, shrinks by 1.82 million

The number of mobile users has fallen twice in the past eight months now, latest fall concentrated in urban India

Before it's too late

Govt must stick to its stand on Vodafone Idea

Vodafone Idea, ATC extend subscription date of Rs 1,600 cr OCDs to Feb 28

Debt-ridden Vodafone Idea and its vendor ATC Telecom Infrastructure have agreed to extend the last date for subscription of Rs 1,600 crore optionally convertible debentures to February 28, the telecom operator said in a regulatory filing. Vodafone Idea's proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure has lapsed in the absence of any response from the government on the conversion of interest dues into equity. "...the Company and ATC have mutually extended the last date for subscription of the OCDs to 28th February, 2023 or such later date as may be mutually agreed, subject to fulfillment of certain conditions precedent," Vodafone Idea (VIL) said in a filing. The conditions for approval include nod of VIL shareholders and conversion of interest liability on the company arising from the deferment of Adjusted Gross Revenue (AGR) and Spectrum Dues into equity shares by the government. Last month, shareholders of debt-ridden Vodafone Idea ..

Top Headlines: IDBI stake sale, comprehensive package for Vi, and more

Queries shows a strong interest in the proposed IDBI transaction

Stocks to Watch: Auto, Voda Idea, Axis, IDBI Bank, Dabur, Spandana Sphoorty

Stocks to Watch Today: Markets to track Gujarat, Himachal Pradesh assembly results. Shares of rate sensitive sectors to be in focus as RBI policy signals likely further rate hikes.

Govt open to a comprehensive package for Vodafone Idea, with conditions

It wants promoters to pitch in first or bring new investors

Stocks to Watch: HDFC AMC, Voda Idea, IDBI Bank, Bikaji, Axis, ICICI Bank

Stocks to Watch Today: Shares of rate sensitive sectors such as auto, banks, NBFCs and real estate are likely to be in focus owing to the RBI policy announcement on Wednesday.

Top Headlines: Vi's fundraising on hold, trade settlement in rupee & more

Business Standard brings you the top headlines at this hour

Vodafone Idea's fundraising put on hold as govt delays equity call

The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion including hefty dues to the government

Vodafone Idea's validity period for OCD issuance to ATC Telecom lapses

Debt-ridden Vodafone Idea's proposal to issue Rs 1,600-crore debentures to mobile tower vendor ATC Telecom Infrastructure has lapsed in absence of any response from the government on the conversion of interest dues into equity, the telecom operator said on Tuesday. Last month, shareholders of debt-ridden Vodafone Idea (VIL) approved issuing optionally convertible debentures (OCD) worth Rs 1,600 crore to ATC Telecom Infrastructure on a preferential basis to settle dues of the infrastructure vendor by converting the due amount into equity, if the amount remained unpaid in 18 months. The OCD issue for ATC was subject to certain conditions including the approval of the government. VIL was of the view that by the time of issuing OCDs, the government would have converted the interest from deferment of adjusted gross revenue and spectrum dues owed by the company into equity. "As the Company has not received any communication from the Government of India on such conversion, the issuance of

Vi in talks with SBI for loan of Rs 15K-16K crore for capex needs: Report

The talks have reportedly been going on for over a month now and SBI is waiting to get clarity on the govt's potential shareholding in Vi