Vodafone Idea seeks shareholder approval for ₹20,000 crore fundraise
In a bid to shore up its finances, Vodafone Idea (VIL) held an Extraordinary General Meeting (EGM) on April 2, seeking shareholder approval to raise a staggering ₹20,000 crore through issuing new securities. The outcome of the vote is yet to be announced. Key Points
mintIn relief for Vi & Adani, DoT mulls waiving 5G minimum rollout fine
While Vodafone Idea had bought spectrum in the 26 GHz band as well as in the mid-band (3300-3600 MHz), Adani bought airwaves only in the 26 GHz band. Vodafone Idea bought mid-band spectrum in 17 circles and 26 GHz airwaves in 16 circles whereas Adani bought spectrum in six circles. Key Points
Economic TimesVodafone in talks to sell Italian unit to Swisscom
British telecoms giant Vodafone is in advanced talks to sell its Italian unit to Switzerland's Swisscom. The potential deal is valued at eight billion euros. Read more about the negotiations and the companies involved. Key Points
Times Of IndiaWith new fund infusion, does Vodafone Idea stand a chance of revival?
Vodafone Idea, struggling under debt, announced a refinancing plan of up to Rs 45,000 crore. The capital infusion aims to pay off dues, expand 4G and roll out 5G. However, challenges like debt servicing and government payouts remain. Survival is crucial for India's telecom sector. Key Points
Economic TimesAs Vodafone Idea dials in again for fundraise, will the call connect this time or go unanswered?
Vodafone Idea is considering fundraising options to raise equity capital, crucial for its survival in the telecom industry. The company remains engaged with parties for network expansion and 5G rollout. The stock has seen gains, but concerns about debt and network upgrades persist. Key Points
Economic Times
Vodafone Idea shares zoom 9% on fundraising plans; will the operator taste success?
Vodafone Idea has been struggling for a while to raise capital, which is of utmost significance given the high debt on books. Further, it needs heavy capital investments for network upgradation and rollout of 5G services to compete with rivals Airtel and RJio. On Thursday, AB Group Chairman Kumar Mangalam Birla said that the group remains committed and is making all efforts to rope in external investors. The stock had rallied following the comments. Key Points
Economic TimesVodafone Idea share price jumps ahead of Q3 results today. Buy or sell?
Q3 results today: Vodafone Idea shares today opened upside and went on to touch an intraday high of ₹14.95 apiece level, logging around 2.5% rise against the previous close Key Points
mintVodafone, Microsoft forge $1.5 billion decade-long partnership to boost AI, IoT sector
Vodafone and Microsoft have entered a ten-year agreement, involving a $1.5 billion investment, to advance various business sectors, including AI, digital payments, and IoT. Key Points
mintTDSAT directs DoT to adjust excess Rs 755.52 cr collected from Voda Idea towards statutory dues
“…we hereby direct the respondent (read: Government of India) to adjust Rs 755.52 crore towards liability of this petitioner (read: Vi) for licence fee and towards spectrum usage charges (SUC) within 15 days from today,” the Telecom Disputes Settlement & Appellate Tribunal (TDSAT) said in an order, dated December 15, 2023. Key Points
Economic TimesVodafone to create Open RAN chip sets with Intel
Vodafone (VOD.L) underlined its commitment to Open RAN networks on Monday by confirming it would create purpose-built chipset architecture for the nascent technology with Intel (INTC.O). Key Points
Reuters
Vodafone Idea shuns traditional tech to cut cost of 5G rollout
Vi is doing 5G trials in various circles with vendors such as Mavenir and Samsung using vRAN and ORAN deployment. The total cost of ownership or deployment capex will likely be lower on vRAN and ORAN as it allows vendor interoperability. Thus, it could work well for Vi due to its balance sheet constraints, Ashwinder Sethi, principal at consultancy firm Analysys Mason, told ET. Key Points
Economic TimesClaims worth Rs 27,328 crore against Vi, erstwhile Voda entities in India under litigation
The pending litigations include a Rs 3,857 crore demand – the highest – raised by the Department of Telecommunications (DoT) on erstwhile Vodafone entities for transfer and merger of licences in India. The second-highest claim of Rs 3,599 crore relates to a one-time spectrum charge (OTSC), also raised by the DoT. Key Points
Economic TimesVi now seeks time till Dec to clear its statutory dues
Vodafone Idea has requested an extension until the end of December to clear all of its outstanding statutory dues citing liquidity issues and slower fundraising. In a reply to the Department of Telecommunications input, Vodafone Idea said it hopes to secure cash from banks and third party investors in the near future, and its promoters are committed to supporting the business. Key Points
Economic TimesVodafone Idea fund raise delay a concern: Vaishnaw
“We will soon resolve the issue regarding satellite spectrum allocation. I believe this should happen within this year,” the minister said. Key Points
FinancialexpressVIL loses most 4G users in 2 years
The telecom operator has been losing subscribers for 23 straight months now. As of February end, Vodafone Idea has lost 45.75 million subscribers. Key Points
Financialexpress
Will GOI participate? Sanjiv Bhasin on Voda Idea plans to raise Rs 45,000 crore via equity and debt
Vodafone plans to raise Rs 45,000 crore, with the success depending on the right issue, promoter participation, capex, and the Government of India's reaction. The fundraising will provide breathing space and help Vodafone stay in the fray for 5G. it is a positive in a way that they have at least addressed the big problem of fundraising but one has to see how they are going to manage that. Key Points
Economic TimesVodafone Idea revival plan led by Rs 14,000 crore equity infusion
Vodafone Idea is planning to infuse a total equity of Rs 14,000 crore, with Aditya Birla Group and UK's Vodafone Group contributing half of the amount, as part of its business revival plan. ABG and Vodafone Group are expected to invest Rs 2,000 crore as fresh equity while working to raise another Rs 7,000 crore from external investors. Key Points
Economic TimesExplained: Why Vodafone Idea shares surged over 12% today
Vodafone Idea shares surged over 12 per cent to hit a 52-week high during intraday trade on Friday. Read on to know what led to the surge in the telecom operator's share price. Key Points
India TodayAirtel, Vi give 7-8% salary hikes, up to 110% bonuses as competition to retain talent heats up
Bharti Airtel and Vodafone Idea have given 7-8% increments and up to 110% in bonuses to employees for the fiscal 2023 cycle. However, the increments are lower than expected, with experts predicting average increments of 10-12%. While Vodafone Idea is incentivizing employees to retain talent and to replace those who exit, Reliance Jio is holding back increments and performance-linked incentives for the time being. The incentives for Jio employees meeting the required rating are predicted to be 100% with hikes of around 6%. Key Points
Economic Times5G rollout: Why DoT has penalised Vodafone and Adani Networks
Learn why Vodafone Idea and Adani Data Networks have been penalized by the Department of Telecommunications (DoT) for failing to meet 5G rollout obligations. Find out the reasons for the delay and the potential fines they may face. Key Points
Times Of India
Vodafone Idea denies link-up with Musk's Starlink, stock tanks 5%
Vodafone Idea denied media reports claiming it was in talks with Elon Musk's Starlink. The telecom company refuted the speculation, prompted by BusinessWorld's December 29 report, suggesting discussions during the Vibrant Gujarat summit. Vodafone Idea said that it is not engaged in any such discussions with Starlink and is unaware of the basis for the news item. Key Points
Economic TimesBharti Airtel, Vodafone Idea exit WiFi JV
Bharti Airtel and Vodafone Idea have both agreed to sell their stakes in FireFly Networks, a WiFi infrastructure provider, to Singapore-based Manipura Digital Infrastructure OPCO Pte. Ltd. for a total of Rs 12.1 crore. Airtel and Vodafone Idea will each receive Rs 6.05 crore for their stakes. This move ends the joint venture initiated in 2014, with the transaction set to finalize within 45 days of the agreement signing Key Points
Economic TimesVodafone, Three execs tell lawmakers their UK merger will benefit 5G, jobs
Executives from Vodafone (VOD.L) and CK Hutchison's (0001.HK) Three UK unit said their 15 billion pound ($18 billion) merger would benefit Britain's consumers, infrastructure and jobs, as lawmakers scrutinise the planned tie-up. Key Points
ReutersFranklin Templeton MF gets Rs 1,398 cr from Vodafone Idea
Franklin Templeton MF side-pocketed its exposure in the telecom player and in January 2020, various securities issued by Vodafone Idea in the schemes were segregated from the total portfolio. The creation of segregated portfolios is a mechanism to separate distressed, illiquid, and hard-to-value assets from other more liquid assets in a portfolio. Key Points
Economic TimesVoda Idea in advanced talks with vendors for 5G rollout, launch subject to funding
Vodafone Ideas chairman Ravinder Takkar, in turn, has reiterated that the telco remains committed to ramping up 4G coverage and launching 5G. “The company will continue to make investments for expanding 4G coverage and capacity, especially in its 17 priority circles and introduce 5G services once funding is in place,” Takkar said in Vis latest annual report. Key Points
Economic Times
9-month winning run! Vodafone Idea finds more subscribers on D-Street; who’s dialing in?
Despite customer disconnections, Vodafone Idea's stock value has tripled in the current financial year, with a nine-month winning streak. Both foreign institutional investors and mutual funds have steadily increased their holdings in the telecom operator. Mutual funds saw the maximum increase in ownership in the December quarter. The number of mutual fund schemes holding the stock also increased. Vodafone Idea's shares rallied on expectations of fund infusion and potential investments for 5G services. Key Points
Economic TimesStocks in news: LIC, SBI Cards, Bharti Airtel, Zomato, Vodafone Idea
The Board of SBI Cards has declared an interim dividend of Rs 2.5 per share for the financial year ending 2023-24. The company has also fixed a record date of March 28 for the proposed dividend. Key Points
Economic TimesVodafone Idea close to selling fibre assets, eyes up to Rs 12,000 crore
Vi had tried to sell its fibre assets and data centre business in 2019, but the deal could not be concluded due to differences over valuation. The company has over 160,000 km of optic fibre and, since wired broadband is set to be a big revenue stream, Vi is hopeful of closing the deal at a good valuation. Key Points
Economic TimesBombay High Court asks I-T dept to refund Rs 1,128 crore to Vodafone Idea within 30 days
Vodafone Idea tax refund case: The Bombay High Court said that the income tax department failed to follow procedure and directed the tax authorities to refund Vodafone Idea Rs 1,128 crore. The court sought action against the assessing officer for causing loss to the exchequer. The court directed the process to be completed in 30 days. Key Points
Economic TimesTrai imposes over Rs 1 cr penalty on Voda Idea for failure to curb pesky calls, SMS
New Delhi, Sep 29 (PTI) Telecom regulator Trai has imposed over Rs 1 crore penalty on Vodafone Idea for failure to curb pesky calls and SMS, the company said on Friday. The Telecom Regulatory Authority of India (Trai) levied the fine on September 28, Vodafone Idea (VIL) said in a regulatory filing on Friday. “Failure […] Key Points
ThePrint
Billionaire Kumar Mangalam Birla returns to Vodafone Idea board
Kumar Mangalam Birla also serves as the chairman of conglomerate Aditya Birla Group, which held an 8.36% stake in Vodafone Idea as of Feb. 7 Key Points
FinancialexpressVodafone Idea board meet on April 6 to mull preferential issue of equity shares
This comes after the telecom operator on Tuesday received shareholders approval to raise Rs 20,000 crore through equity linked instruments. Besides raising funds via equity, the cash-strapped operator is also engaging with its lenders for tying up debt funding. Key Points
Economic TimesInvestors warm up to Vi, but put the fundraising call on hold amid stock fluctuation
Vi plans to raise ₹45,000 crore by the June quarter. Its board last month approved raising ₹20,000 crore via equity or equity-linked instruments. The telco plans to raise another ₹25,000 crore in loans. Key Points
Economic TimesBreakout Stocks: How to trade Vodafone Idea, Angel One and MOSL on Thursday
Vodafone Idea has formed a new 52-week high on Wednesday. Fundamentally, the company is expected to secure funding (~Rs 20,000 crore in the form of debt and equity) from investors as per the latest earnings conference call. Key Points
Economic TimesTelcos may increase their headcount by a fourth this fiscal
India's top three telcos are expected to add up to 25% more to their existing headcount in FY24, on the back of a 35% addition in FY23, as they double down on 5G coverage expansion and monetisation and deepen 4G coverage. Industry executives and experts said hiring activity by the three telcos picked up in FY23 after a slowdown in FY22 as the pressures of the pandemic wore off. Key Points
Economic Times
Vodafone Idea's Independence Day Offer: 50GB Data, discounts, and more
Vi offers 50GB of data for unlimited recharges over ₹199, along with discounts on select recharge packs. There is also a ‘Spin the Wheel’ competition on the Vi App with various rewards. Key Points
mintVodafone Idea to make significant investments to roll out 5G: KM Birla
Vodafone Idea is set to make significant investments in rolling out 5G networks and expanding 4G coverage throughout India, said Kumar Mangalam Birla, additional director, Vodafone Idea. This commitment was announced at the 7th India Mobile Congress, reflecting the company's determination to support the government's vision, including initiatives like OpenRAN. Key Points
Economic TimesTelcos set to report 5G users separately
Bharti Airtel and Reliance Jio have been offering 5G services since October but so far, the telcos have not started reporting the number of users using that technology. Trai will soon issue a directive to telecom operators regarding reporting of 5G subscribers, an official privy to the details told ET. Trai has also written to the Vodafone Idea, seeking information about their 5G launch plans. Key Points
Economic TimesVoda Idea board approves 45,000cr funding infusion
India Business News: Vodafone Idea board approves a funding infusion of Rs 45,000 crore through a mix of equity and debt. The company aims to invest in network expansion and launch high-speed 5G services to compete with Reliance Jio and Bharti Airtel. Key Points
Times Of IndiaSanjiv Bhasin is betting on 4 stocks in tech/EMS basket. Here’s why
Sanjiv Bhasin of IIFL Securities says he is bullish on HCL Tech, Wipro, Coforge, and Dixon in the IT sector. He believes Vodafone will survive and progress into 5G with capital infusion. Bhasin is positive on Grasim and Asian Paints. Indian IT companies are expected to perform well, including NVIDIA. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/N776ZFPI2VOCDMMTRDD4HO4BIU.jpg)
India's Vodafone Idea reports wider Q1 loss on weak 4G subscriber growth
India's Vodafone Idea (VODA.NS) reported a wider first-quarter loss on Monday, dragged by weak 4G subscriber growth and higher expenses. Key Points
ReutersNokia sales crossed Rs 9,500 cr in India in Q2 on the back of 5G rollout: Sanjay Malik
Nokia posted ₹9,500 crore of revenue in India during the April-June period, boosted by the 5G rollouts. Sanjay Malik, head of the India market, tells Danish Khan that the 5G-led growth in India is happening faster than in some developed markets. The company is supporting Vodafone Idea's existing 4G operations and is awaiting the telco's funding, which is taking longer than what Nokia had expected, he says Key Points
Economic TimesVodafone UK may offer Rs 2,000 crore equity topup to Vi
Vi may also make more substantial payments to Indus towards cutting its dues after the telco raises debt of ₹23,000-25,000 crore through term loans as planned, analysts added. After the recent sale of its 18% stake in Indus, UK's Vodafone holds 3.1% of the tower company and is said to be in talks with Bharti Airtel to sell these shares, people familiar said. Key Points
Economic TimesIndia's Vodafone Idea posts wider-than-expected Q2 loss as user base shrinks
Indian telecom operator Vodafone Idea (VODA.NS) reported a wider-than-expected loss on Thursday, due to subscriber loss and increased expenses. Key Points
ReutersJio adds 30.5 lakh mobile users in March; Voda Idea loses 12 lakh users
A look at March data released by TRAI showed that Vodafone Idea -- which trails Reliance Jio and Bharti Airtel in the mobile market subscriber tally -- lost 12.12 lakh mobile users in March. Key Points
Financialexpress
Vodafone Idea to close equity funding talks in current quarter: CEO Akshaya Moondra
Vodafone Idea is set to finalize its equity funding talks in the ongoing quarter, followed by additional lending from banks, according to CEO Akshaya Moondra. Moondra revealed that discussions with equity investors have progressed since the last quarter. He also mentioned that one promoter who committed to providing financial support of up to Rs 2,000 crore has yet to inject the funds. However, Moondra clarified that the equity-linked funding being discussed is not dependent on promoter infusion. Key Points
Economic TimesVodafone Idea expects to close external equity funding in December Quarter
Vodafone Idea had said in an exchange filing on Monday that one of its promoters has committed to providing financial support to the extent of ₹2,000 crore without saying which one. The Vodafone Group UK and the Aditya Birla Group are the main promoters of the company. Key Points
Economic TimesIndus expects Vi to clear full dues worth Rs 5,700 cr soon, open to payment in tranches
Indus Towers anticipates Vodafone Idea clearing its Rs 5,700 crore dues soon, potentially in one payment or in installments, following VIL's fundraising. Indus Towers' CEO expresses optimism, highlighting their support for VIL's growth plans, including 5G rollout. VIL aims to raise Rs 45,000 crore, partly through equity and debt. Key Points
Economic TimesRelief for telcos: SC sets aside HC order on taxing sim card sale discounts
The Supreme Court granted relief to telecom companies, including Bharti Airtel and Vodafone Idea, by setting aside high court orders and ruling that Section 194H of the Income Tax Act does not apply to them in this case. The judgment pertained to the applicability of TDS on discounts given to pre-paid distributors for the sale of SIM/Recharge Vouchers. The court dismissed the Income Tax department's appeals. Key Points
Economic TimesStocks in news: Vodafone Idea, Titan, IndoStar Capital, Juniper Hotels, ICICI Lombard
Multiple companies are in focus due to news developments. IndoStar Capital Finance raises funds. CMS Info Systems promoter sells stake. Salasar Techno, SJVN, Capital SFB, GE TD India, Aether Industries are also in the news. Key Points
Economic Times