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Vi Might Meet All Payment Deadlines Via Fundraising
Despite Vi (Vodafone-Idea) being under a huge debt, it has given assurance to banks that it will clear all its dues. The telecom operator has reportedly informed all banks that it will clear its debt through fundraising as the next instalment of the AGR is scheduled for the next year.
This development comes after a bank official said that the company has informed them that it is raising Rs. 25,000 crore and it is also planning to raise tariffs too."I think the worst is behind for Vi; the biggest takeaway is that between now and March 2022, Vi does not have any spectrum payment to make and banks have been assured that all the cash flow coming into the company is for servicing loans," a bank official was quoted by the ET.
Vi (Vodafone-Idea) Overall Debt, Including Bank And AGR
Notably, the company has to pay Rs. 11,200 crore to State Bank of India, Rs. 1,000 crore to Punjab National Bank, Rs. 5,000 crore to IndusInd Bank, and 1,700 crore to ICICI Bank. The operator's net debt stood Rs. 114,510 crores by the end of September against Rs. 115,500 crores in the first quarter of this financial year.
Similarly, the operator needs to pay Rs. 50,000 crore as adjusted gross revenue dues by March 31, 2031. In addition, the telecom operator is planning to expand its network to increase its user base and to stand against Reliance Jio and Airtel.
However, a new report from Motilal Oswal Financial Services claims that Vi is losing its position due to customers. It said that a lack of liquidity has also restrained the company to invest in the networks. Furthermore, the report added that the company is focussing on only 16 cities, whereas it is offering its services in 22 circles and this will affect the company position further.
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99,999
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1,29,999
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69,999
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41,999
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64,999
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99,999
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29,999
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63,999
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39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
11,999
-
16,026
-
14,248
-
14,466
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26,634
-
18,800
-
62,425
-
1,15,909
-
93,635
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75,804