Vodafone Idea to get Rs. 20,000 crores in the next two weeks
Telecom service provider Vodafone Idea is likely to get a capital investment of Rs.20,000 crores in the next two weeks.
According to a report, the telco might get around Rs 14,000 crore from the government in the form of returned bank guarantees and the remaining Rs. 7,000 to Rs. 8,000 crores from its shareholders Aditya Birla Group and Vodafone Group Plc.
Vi’s fundraising talks have been expedited after the government launched a telecom relief package. The cash-strapped telco may opt for a fund infusion only after a “marginal” improvement in its average revenue per user or ARPU. Vi’s ARPU for the April-June quarter (Q2) stood at Rs 104.
With the government giving the telcos the deferral option for paying the dues, there won’t be any urgent need of paying a big amount to the centre. This will help the telco to save a hefty amount of its money.
Aditya Birla Group chairman Kumar Mangalam Birla is considering injecting some of his own capital into the debt-laden telecom company while the UK-based Vodafone, which holds 28.12%, may sell at least a part of its stake in the tower company, followed by external funding.
Vodafone Idea MD Ravinder Takkar has apparently spoken of renewed interest from the investors in light of much-needed government reforms in the telecom sector.
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