India’s Vodafone Idea secures 20 billion rupees to meet payment obligations
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
INDIAN telecom operator Vodafone Idea said on Monday (Aug 14) a shareholder had committed to provide up to 20 billion rupees (S$325.8 million) to the company to meet its payment obligations.
The company’s total gross debt as of Jun 30 stood at 2.12 trillion rupees, comprising deferred spectrum payment obligations of 1.34 trillion rupees and adjusted gross revenue dues of 668.6 billion rupees owed to the government.
Debt from banks and financial institutions stood at 95 billion rupees and optionally convertible debentures amounted to 16.6 billion rupees.
Separately, Vodafone Idea said it has proposed to pay a spectrum auction instalment of 16.8 billion rupees along with interest by availing a grace period of 30 days. The instalment is due on Aug 17.
The company earlier in the day reported a wider first-quarter loss because if weak 4G subscriber growth and higher expenses. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
