Business Standard

Vodafone India

ATC Telecom converts Rs 160 cr worth Voda Idea debt bonds into equity

Mobile tower company ATC Telecom Infrastructure has converted Rs 160 crore worth of optionally convertible debentures, issued by Vodafone Idea in lieu of payments, into equity, a regulatory filing said on Thursday. Debt-ridden telecom operator Vodafone Idea (VIL) had issued optionally convertible debentures (OCDs) worth Rs 1,600 crore to ATC, as it failed to pay for rentals of mobile towers. ATC has already converted OCDs worth Rs 1,440 crore into equity in March. "We wish to inform you that pursuant to the terms of OCDs, the Company has received Conversion Notice in respect of outstanding 1,600 OCDs from current OCD holders (ATC) for conversion into 16,00,00,000 fully paid up equity shares of face value of Rs 10 each at conversion price of Rs 10 per equity share," VIL said in the filing. Last month, VIL allocated shares worth Rs 2,458 crore to vendors Nokia India and Ericsson India to clear partial dues. The total debt of the company stood around Rs 2,07,630 crore as of March 31,

ATC Telecom converts Rs 160 cr worth Voda Idea debt bonds into equity
Updated On : 11 Jul 2024 | 11:49 PM IST

Crony capitalism thriving under Modi: Congress on Jio, Airtel tariff hikes

Congress leader Randeep Singh Surjewala questioned the Centre's intent, asking how the companies were unilaterally allowed to increase the rates without any oversight and regulation

Crony capitalism thriving under Modi: Congress on Jio, Airtel tariff hikes
Updated On : 05 Jul 2024 | 5:29 PM IST

Rs 96,000 crore telecom 5G spectrum auction to start today: Check details

Reliance Jio, Bharti Airtel, and Vodafone Idea are likely to jointly invest Rs 12,500 crore in spectrum purchases, representing around 13% of the total Rs 96,320 crore worth of airwaves on offer

Rs 96,000 crore telecom 5G spectrum auction to start today: Check details
Updated On : 25 Jun 2024 | 9:35 AM IST

Vodafone Idea stock falls 2.5% on weak April telecom data, profit booking

On June 19, Vodafone sold 18 per cent stake in Indus Towers for Rs 15,300 crore to repay debts. Post stake sale, Vi's holding in Indus Towers stood at 3.1 per cent

Vodafone Idea stock falls 2.5% on weak April telecom data, profit booking
Updated On : 20 Jun 2024 | 12:04 PM IST

Ericsson India in discussions with Vodafone Idea for potential 5G agreement

Nitin Bansal of Ericsson India said the initiative follows a follow-on offer and is expected to initiate a network expansion project within the next two to three months

Ericsson India in discussions with Vodafone Idea for potential 5G agreement
Updated On : 23 May 2024 | 12:12 PM IST

Vi steps up talks with Nokia, Ericsson to accelerate 4G network enhancement

Vodafone Idea intends to allocate Rs 13,000 crore for capital expenditures, with over half of it earmarked for expanding its 4G infrastructure

Vi steps up talks with Nokia, Ericsson to accelerate 4G network enhancement
Updated On : 06 May 2024 | 11:03 AM IST

India's biggest FPO in the bag: Birla says Vi to make 'smart turnaround'

India deserves three private telecom companies, says chairman of Aditya Birla Group

India's biggest FPO in the bag: Birla says Vi to make 'smart turnaround'
Updated On : 25 Apr 2024 | 11:32 PM IST

Bharti Airtel denies reports of interest in Vodafone's Indus Towers stake

Amid reports of buying UK-based Vodafone Group's 21 per cent stake in Indus Towers, Airtel affirmed that it is not in any such talks

Bharti Airtel denies reports of interest in Vodafone's Indus Towers stake
Updated On : 24 Apr 2024 | 11:49 AM IST

Vi expects 5G rollout in 6-9 months after FPO worth Rs 18,000 crore

Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets in 6-9 months of the issue. Its Chief Executive Akshaya Moondra said rollout of the 5G services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout. The 5G rollout will cover 40 per cent of the company's overall revenue base in the next 24-30 months, Moondra said, without sharing a specific target on when the rollout will happen. A sum of Rs 5,720 crore has been allocated for the rollout, he said, adding that testing and vendor conversations have already begun. However, he did not specify the locations where the rollout will happen. It can be noted that both its rivals Bharti Airtel and Reliance Jio -- to whom it has ceded market share -- have been active on 5G for some months now. Moondra said the company has not been able to roll out 5G services because of lack of ...

Vi expects 5G rollout in 6-9 months after FPO worth Rs 18,000 crore
Updated On : 15 Apr 2024 | 2:42 PM IST

Vodafone Idea looks to raise Rs 18,000 crore via India's biggest FPO

Priced at Rs 10-11 a share, offer opens on Thursday

Vodafone Idea looks to raise Rs 18,000 crore via India's biggest FPO
Updated On : 12 Apr 2024 | 11:44 PM IST

Vi surrenders partial spectrum in Uttar Pradesh east, West Bengal

Debt-ridden telecom operator Vodafone Idea has surrendered partial spectrum in 900 and 1800 Mhz band that were due for renewal in 2024. While the amount of spectrum surrendered by Vodafone Idea could not be ascertained, sources indicated it to be around 12 megahertz in both bands. When contacted, Vodafone Idea spokesperson said, "Upon assessing our usage and needs, we have surrendered some spectrum in both West Bengal and UP East. We remain committed to providing seamless services to our customers while also focussing on optimising for operational efficiency and future growth". Separately, in an investor presentation, VIL said it has completed the minimum roll out requirement for 5G services in 4 telecom circles, and the company has a target to cover 40 per cent of revenues population coverage with 5G in the first 24-30 months.

Vi surrenders partial spectrum in Uttar Pradesh east, West Bengal
Updated On : 12 Mar 2024 | 11:55 PM IST

Swisscom confirms talks to buy Vodafone's Italian unit for 8 bn euros

Telecoms operator Swisscom confirmed on Wednesday it's in talks with Vodafone Group toward a possible purchase of its Italian subsidiary for 8 billion euros (USD 8.65 billion). The Swiss company, which is majority owned by the Swiss government, said in a statement it's in advanced exclusive negotiations to buy all of Vodafone Italia and merge it with Swisscom's Italian subsidiary, Fastweb. Swisscom says it expects the purchase, if concluded, would add value and cash flow to the Swiss company and help improve its dividend policy. The Swiss telecoms operator says the deal would bring lower costs and pave the way for synergies, and comply with aims of the Swiss executive branch, the Federal Council.

Swisscom confirms talks to buy Vodafone's Italian unit for 8 bn euros
Updated On : 28 Feb 2024 | 4:41 PM IST

Voda Idea plans to raise about Rs 45,000 crore through equity, debt

Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival -- it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn. On Tuesday, the troubled telco said its Board of Directors have approved fund-raise of up to Rs 20,000 crores via a combination of equity and / or equity-linked instruments. The Board has also authorised the management to appoint bankers and counsels to execute the fund raise. The company will call for a meeting of its shareholders on April 2, 2024, and post-shareholders' approval it expects to complete the equity fund raise in the coming quarter. The promoters will also

Voda Idea plans to raise about Rs 45,000 crore through equity, debt
Updated On : 27 Feb 2024 | 6:39 PM IST

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

Not in talks with Musk's Starlink for a tie-up, says Vodafone India
Updated On : 02 Jan 2024 | 2:10 PM IST

VI pays 50% of spectrum usage, licence charges; struggles to raise funds

Vodafone Idea has found it difficult to raise funds in the past two years which has hurt its ability to expand its 4G network and begin the 5G rollout

VI pays 50% of spectrum usage, licence charges; struggles to raise funds
Updated On : 09 Sep 2023 | 10:57 AM IST

Starlink a step closer to launching its satellite-based internet in India

As Starlink goes ahead with its plan, it will have rivals like Bharti Group company OneWeb, Amazon, and Reliance Jio's satcom waiting for it

Starlink a step closer to launching its satellite-based internet in India
Updated On : 11 Jul 2023 | 11:46 AM IST

Vodafone Idea cuts ties with 25,000 retail partners to reduce costs

As competition in the telecom market rises due to competitive packages by Bharti Airtel and Reliance Jio, Vi is taking drastic cost-cutting measures

Vodafone Idea cuts ties with 25,000 retail partners to reduce costs
Updated On : 16 Jun 2023 | 2:56 PM IST

Vodafone, CK Hutchison's $19-billion merger to create UK's largest telco

Vodafone, UK's third-biggest operator, will have an option to buy-out the Hong Kong-based conglomerate three years after completion, if it agrees

Vodafone, CK Hutchison's $19-billion merger to create UK's largest telco
Updated On : 14 Jun 2023 | 10:05 PM IST

Avoid Vodafone Idea as charts show 'Death Cross' pattern; support at Rs 5

The broader trend for the shares of Vodafone Idea continues to remain negative

Avoid Vodafone Idea as charts show 'Death Cross' pattern; support at Rs 5
Updated On : 17 May 2023 | 11:10 AM IST

Vodafone Idea expands retail footprint in rural parts of West Bengal

Aiming to reach people outside cities and major towns, Vodafone Idea on Monday said it has been aggressively expanding its retail footprint in rural India, including in West Bengal. The private telecom operator added over 130 new-format 'Vi Shops' in tier III locations across 20 districts in West Bengal within 45 days, it said. Till now 330 Vi Shops have been rolled out in the state since November 2022. Nationally the number of such stores is 1,100 in 18 states as of February. The modern design of the new format Vi Shops aligns with signature elements that define existing Vi Stores in urban locations. The shops offer the entire bouquet of Vi prepaid products and services. We have taken a renewed approach to our rural retail strategy and moved closer to customers by introducing the concept of Vi Shops across multiple small towns and tier III markets. "We have scaled up to 330 Vi Shops in Rural West Bengal, under one of the fastest retail expansion exercises in the country, said ...

Vodafone Idea expands retail footprint in rural parts of West Bengal
Updated On : 24 Apr 2023 | 9:04 PM IST