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Vodafone-Idea Might Invest $1.5 Billion In India: Report
Even though Vodafone-Idea is under a lot of stress, it has paid the principal amount of its AGR dues. Now, it has been reported that the promoters of the telco are likely to infuse $1.5 billion (close to Rs. 11,060 crore) in its operations in India.
The company will only invest after the government allows them to pay the amount they have estimated. "VIL's promoters may consider an additional capital infusion of at least $1-1.5 billion (Rs 7,376-11,060 crore) over the next 6-to-9 months if the government approves a sharp reduction in VIL's AGR dues, allows repayment of such statutory liabilities over a minimum 10-year tenure and signals an early floor tariff for data services," Rajiv Sharma, research head at SBICaps Securities, was quoted by Economic Times.
However, the operator has denied any investment and said that they do not comment on speculations. The development comes at that time when the government has urged the Supreme Court to give them (Vodafone-Idea) 20 years of time to pay the dues. It is worth mentioning that the operator has cleared its stand earlier, and said that it will shut its operations if the government does not offer any relief package.
The operator has recently estimated its dues and it is quite less than the government is looking for. As per its assessment, they have to pay only Rs, 21,533 crore, while the Department of Telecommunication wants them to more than Rs. 53,000 crore.
Meanwhile, Credit Suisse claims that the company might sustain for only two years with the relief measures. "While VIL may be able to sustain over next two years with the spectrum and AGR payment deferment, our cash flow analysis suggests that business viability is under cloud even at Rs 200 ARPU (Average Revenue Per User) and a subscriber base of 280 million once the deferred spectrum payment resumes in FY23," the brokerage firm said.
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99,999
-
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
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
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16,499
-
30,700
-
12,999
-
11,999
-
16,026
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14,248
-
14,466
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26,634
-
18,800
-
62,425
-
1,15,909
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93,635
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75,804