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 merger scheme shall become effective on the date on which certified copy of the order of NCLT is filed with Registrar of Companies.
Responding to questions raised by telecom regulator over its priority plan earlier, Vodafone Idea had argued that a new tariff plan is not a new service.
The telco reportedly gave assurance to its lenders saying that it will not seek loan restructuring or easing of terms of repayment.
The source said that the company, despite several rounds of questioning, has not been able to offer clear and direct answers to the issues raised by the Telecom Regulatory Authority of India (TRAI).
SC also asked for the spectrum sharing agreement between RComm and Reliance Jio to be placed on record.
