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Vodafone Idea's ₹20,000-crore FPO likely next week

Livemint

Livemint · 1y ago

Vodafone Idea's ₹20,000-crore FPO likely next week

Indian telecom company Vodafone Idea is planning to raise ₹20,000 crore ($2.7 billion) through a follow-on public offer (FPO), with a price band likely to be decided by early next week. The FPO is expected to be followed by a larger debt raise from banks. This fundraising initiative is crucial for Vodafone Idea, as it aims to address its financial challenges, including a large debt burden and outstanding dues to vendors. The company's board of directors is expected to meet soon to consider issuing equity to promoter group entities.

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Vodafone Idea to launch Rs 18,000-20,000-crore FPO next week

Money Control

Money Control · 1y ago

Vodafone Idea to launch Rs 18,000-20,000-crore FPO next week

Vodafone Idea is looking to raise Rs 18,000-20,000 crore through a follow-on public offer (FPO) next week. The company has secured commitments from anchor investors and the government of India, its largest shareholder, is also supportive of the fundraise. Vodafone Idea has been struggling with a significant debt burden and operational losses in the highly competitive telecom sector. The proceeds from the FPO are expected to provide much-needed liquidity and support to the company.

Vodafone Idea could launch FPO in 1-2 weeks, talking to investors for fund raise: Report

Money Control

Money Control · 1y ago

Vodafone Idea could launch FPO in 1-2 weeks, talking to investors for fund raise: Report

Telecom company Vodafone Idea is reportedly planning to raise Rs 15-20,000 crore through a follow-on public offering (FPO), according to sources. The FPO is aimed at financing the delayed rollout of 5G and strengthening its 4G services. Vodafone Idea had already obtained board approval for the fundraising in February. The company's ability to secure funding is crucial for its market position and to boost average revenue per user (ARPU). The shareholders have also approved a fund raise of Rs 20,000 crore, which could benefit telecom gear vendors Nokia and Ericsson.

Indus Towers working with Vodafone Idea to recover dues; expects to benefit from telco's improving financial situation: Prachur Sah, MD

Money Control

Money Control · 1y ago

Indus Towers working with Vodafone Idea to recover dues; expects to benefit from telco's improving financial situation: Prachur Sah, MD

Indus Towers expects to benefit from Vodafone Idea's successful follow-on public offer (FPO) and improving financial situation. The telecom infrastructure company is confident it will quickly recover its backlog of past dues as Vodafone Idea kickstarts its 4G expansion and 5G rollout. Indus Towers is engaged with the customer to define the process of clearing the dues and expects tenancies to increase as the network expansion activities progress. The positive development around Vi's fundraising is expected to clear the past dues and provide growth opportunities for Indus Towers.

After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues - After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues BusinessToday

Business Today

Business Today · 4m ago

After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues - After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues BusinessToday

Bharti Airtel has requested India's Department of Telecommunications to convert ₹41,000 crore of its adjusted gross revenue (AGR) dues into equity, similar to Vodafone Idea's recent move, potentially giving the government a 2–4% stake. Airtel is focusing on AGR dues, while its total outstanding dues to the government stand at over ₹95,000 crore. The move follows the government's decision to convert Vodafone Idea's spectrum dues into equity. Airtel continues to manage its spectrum and financial commitments.

Vodafone Idea expects full subscription to ₹18,000-crore FPO

Livemint

Livemint · 1y ago

Vodafone Idea expects full subscription to ₹18,000-crore FPO

Vodafone Idea is expecting strong subscription for its ₹18,000-crore follow-on public offer (FPO), with anchor investors fully subscribing to the shares. The telecom carrier has begun its roadshow for individual investors and is confident of good interest from retail and high-net-worth investors. Vodafone Idea plans to roll out 5G services in six to nine months following the FPO and will expedite equipment orders with vendors. The company remains the only private firm in India without 5G services and is focused on prioritising 17 circles that account for 98% of its revenue.

Vodafone Idea gets bids worth $10.6 bn in country's largest ever follow-on public offering

VCCircle

VCCircle · 1y ago

Vodafone Idea gets bids worth $10.6 bn in country's largest ever follow-on public offering

Indian telecom operator Vodafone Idea has received bids worth $10.57 billion from investors in its follow-on public offering (FPO), making it the country's largest-ever FPO. The company aims to raise $2.16 billion through the FPO, with investors bidding for 6.36 times the shares on offer. This is seen as a positive response from investors, and if the funds are reinvested into the business, it could provide a much-needed boost to Vodafone Idea as it looks to expand its network services and compete with larger rivals Bharti Airtel and Reliance Jio.

Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act

Livemint

Livemint · 1y ago

Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act

Vodafone Idea Limited plans to take legal action to reverse an order it received under the Central Goods and Services Tax Act, 2017. The telco received a penalty of ₹10.76 crore for alleged incorrect transition of CENVAT credit into the GST regime. Vodafone Idea disputes the order and is seeking rectification. In addition, the company lost 20.44 lakh wireless users in October, dragging its user base down to 22.54 crore. P Balaji, Vodafone Idea's chief regulatory and corporate affairs officer, has also resigned.

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Money Control

Money Control · 1y ago

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Indus Towers anticipates high capex intensity for this year as Bharti Airtel rapidly deploys towers and Vodafone Idea expands 4G and introduces 5G. Indus expects a fair share in Vodafone Idea's expansion, despite increased competition. The tower company also expects overdue recovery of up to INR 5,400 crore from Vodafone Idea. Additionally, Vodafone Idea is expected to roll out over 60,000 tenancies, offering lucrative opportunities for the Indian tower industry. Indus Towers has been in discussions with both Vodafone Idea and Bharti Airtel for network expansion and rollout with sharing benefits.

ATC to get 2.9% in Vodafone Idea, converts OCDs worth ₹1,440 cr to equity

Livemint

Livemint · 1y ago

ATC to get 2.9% in Vodafone Idea, converts OCDs worth ₹1,440 cr to equity

Vodafone Idea will allot equity shares worth ₹1,440 crore to ATC Telecom Infrastructure from optionally convertible debentures (OCDs). ATC will have a 2.9% shareholding after conversion. Vodafone Idea has significant dues to vendors and tower service providers, including ATC. The company is raising ₹45,000 crore, including a ₹20,000 crore equity-based fund raise, to clear its debts. Vodafone Idea aims to raise the remaining amount through debt financing. The company plans to launch 5G services and expects to generate 40% of its revenue from the 5G business in the next 24-30 months.

Vodafone Idea launches pilot with Mavenir for commercial Open RAN deployment

Livemint

Livemint · 1y ago

Vodafone Idea launches pilot with Mavenir for commercial Open RAN deployment

Vodafone Idea has begun a pilot deployment of Open RAN technology in partnership with Mavenir. The deployment, which began in September, is currently handling live commercial traffic across key sites. This move sets the stage for a broader rollout and highlights Vodafone Idea's focus on next-generation radio solutions and potential for widespread 5G deployment. Open RAN technology allows telecom operators to source hardware and software from different suppliers, enabling a broader vendor ecosystem and reducing dependency on single vendors. This development comes as Vodafone Idea considers proposals for a long-pending fundraise.

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