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.
Reports suggest that Vodafone Idea has AGR dues of over Rs 58,000 crore, of which the company has paid Rs 7,854 crore to the Department of Telecom so far.
Vodafone Idea Board is set to meet on Friday to consider fundraising through various means.
On Tuesday, the scrip fell over 17 per cent after the Supreme Court delivered its verdict on the staggering payment of Adjusted Gross Revenue (AGR) due issue.
As per government’s assessment, Vodafone Idea owed a total of Rs 58,254 crore to the Department of Telecommunications.
On the other hand, ONGC, Axis Bank, Tech Mahindra, Infosys and ICICI Bank were among the laggards.
