Vodafone Idea reduces loss to Rs 7,176 crore in July-Sept quarter
Vodafone Idea has reduced its losses to Rs 7,176 crore in the July-September quarter of the current financial year from Rs 8,738 crore in the same quarter last year.
Vodafone Idea has reduced its losses to Rs 7,176 crore in the July-September quarter of the current financial year from Rs 8,738 crore in the same quarter last year.
US-based GQG Partners has been allocated the highest number of shares, worth Rs 1,345 crore, while Fidelity Investments has invested about Rs 772 crore in Vodafone Idea's FPO.
Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and also Rs 2,400 crore to ATC.
At the recently held 5G spectrum auction for 5G services by the Department of Telecom, Airtel acquired 19867.8 MHZ range in 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz, and 26 GHz frequencies.
In a statement, the company said that it continues to invest in 4G to increase its coverage and capacity.
The company's losses in Q2 FY20 had been at a staggering Rs 50,921.9 crore after it provisioned for Supreme Court mandated statutory dues.
As VIL strategic technology partner, IBM is heading the end-to-end implementation and management of the company.
Large parts of Mumbai reported a power outage on Monday morning.
Shares of Vodafone Idea surged after the announcement. At 12.34 pm, its share price was Rs 12.54, higher by 4.41 per cent from the previous close.
The fund-raising plans are subject to shareholders' nod and other statutory approvals.
