Shares of the telecom services provider tanked 8.5 per cent at Rs 6.03, hitting a fresh 52-week low on the BSE in the intra-day trade
Some issues beyond its control - spectrum payment and adjusted gross revenue dues - have created pressure, which the government is attempting to address
Vi has a debt of about Rs 1.8 trillion, including deferred spectrum obligations and AGR dues
Industrialist Kumar Mangalam Birla has expressed willingness to offer his group's 27% stake in VIL to any government or domestic financial entity in order to keep the stressed telecom company alive
Analysts say that VIL losses could potentially swamp the group finances making Birla wary of making additional investments in the company
Aditya Birla group Chairman KM Birla has offered to hand over his stake in debt-laden Vodafone Idea Ltd to govt or any other entity that govt may consider worthy to keep company operational.
Merging state-run telcos with a nationalised Vodafone Idea could save jobs and capital. Managed professionally, it could be a credible third player.
Both Airtel and Vi lost 4.6 million and 4.3 million subscribers, respectively
The telecom company has sought an extension of the moratorium till April 2023 to pay over Rs 8,000 crore dues related to spectrum purchase
The new plans are aligned with those of Bharti Airtel, which tweaked its tariff last week
The Supreme Court observed that it has said not just once, but twice and thrice that AGR demand can't be recomputed
With sufficient assets and a healthy financial condition, Bharti Airtel can clear their dues with DoT, analysts said
Much would depend on whether the govt gives it yet another year's moratorium on Rs 8,200 cr spectrum payment due next March, and its ability to raise Rs 25,000 cr more from investors
The BSE MidCap and SmallCap indices, however, underperformed the benchmarks
Three telecom firms - Bharti Airtel, Vodafone Idea and Tata Teleservices - had moved the apex court seeking correction in calculation errors in the DoT's AGR demand
Forty-one companies, including RIL, JSW Steel, SBI Card, YES Bank and Federal Bank will report their quarterly numbers today
Fund-raise set to help cash-strapped telco cut debt and pay AGR dues
The Department of Telecom is awaiting the details of investors from Vodafone Idea for clearing the telco's Rs 15,000 crore foreign direct investment proposal, an official source said on Thursday.
Airtel said it has simplified its Postpaid plans to offer industry leading data benefits backed by a 5G ready network and superior digital-first customer care
Currently, DoT allocates airwaves by administered price mechanism