#Vodafone India AGR dues

[dailyreportonline]

Supreme Court Rejects Telcos' Plea on AGR Dues Owed to Government | Daily Reports Online

India’s top court on Thursday rejected a request by telecom companies to recalculate the dues they owed the government, sending shares of debt-saddled Vodafone Idea and its peers down. Analysts at ICRA estimate that Vodafone Idea and Bharti Airtel owe 1 trillion rupees ($12 billion) in past dues, including spectrum charges and licensing fees. They, however, did not shed light on the amount owed…

[hulnews]

VI App Update Now Available For iPhone And Android; Family Plans, eSIM, VI REDX Plan And More

VI App Update Now Available For iPhone And Android; Family Plans, eSIM, VI REDX Plan And More

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VI, erstwhile Vodafone Idea, has rolled out the new VI app for Android phones and the Apple iPhone. The new update for what was the My Vodafone app is now rolling out on the Google Play Store for Android phones and the Apple App Store for the iPhone. The feature set remains as before, which includes managing your prepaid or postpaid VI account, the prepaid recharge options as well as the…

[weelectronicstudentreviewstuff]

Vodafone-Idea to Make Major Announcement at 11:45AM Today; Amazon, Verizon Investment in Sight?

Vodafone-Idea to Make Major Announcement at 11:45AM Today; Amazon, Verizon Investment in Sight?

Heavily indebted Vodafone Idea had previously said its ability to continue as a going concern rested on a positive outcome of the hearing. (Representative image)

Vodafone-Idea will be announcing its major strategic reveal at 11:45AM today via a web broadcast, and reports have suggested that an investment of close to Rs 29,300 crore may be expected from the likes of Amazon Inc and Verizon.

New…

[edthrive2022]

VI are together!

The year 2017 marked a merger of two of the largest telecom companies of India, Vodafone and Idea. These companies merged with the intent of crushing the growing threat of the newbie giant Reliance Jio. Post the merger, Vodafone owned a 45% stake in the entity, the promoters of Idea cell owned 26% and the rest were owned by the public.

Through the merger, the consolidated company had become the largest player in the country with a market share of a whopping 43%. There was an estimated annual savings of capital expenditure and operating costs of Rs 14,000 crores. Vodafone and Idea had individual spectrum holdings of 411 MHz and 316 MHz respectively.

On the other hand, the spectrum holding of Bharti Airtel and Reliance Jio was 860 MHz and 650 MHz respectively. Competing individually for Vodafone and Idea would prove to be extremely difficult, and the amalgamation ensured that the merged company would have a hold of 728 MHz, thus increasing the competitiveness of the company. In September 2020, the company was rebranded as VI, after which the Supreme Court of India ordered VI to pay back government dues amounting to Rs 58,000 crores under AGR (Adjusted Gross Revenue). AGR alludes to the licensing fees and spectrum charges that telecom companies are required to pay in the form of revenue shares to the Department of Telecommunications. As the company did not have adequate funds to pay its dues, it filed a curative petition with the Supreme Court of India requesting for the moratorium of payment and interest and payment to be made within the next 20 years in equal instalments. On September 1st 2020, the Supreme Court declared that telecom companies could choose to pay their AGR dues in 10-year instalments, commencing with a 10% upfront payment.

On 5th August 2021, Kumar Mangalam Birla, the chairman and promoter of the company, stepped down after selling his 27% stake. Once the news broke out, the company’s stock price crashed to Rs 6, a significant decline from Rs 34(the share price at the time of the merger). One of the reasons for VI’s declining market share is the aggressive diversification plans undertaken by Reliance Jio.The company recently entered the gaming space by partnering with Zupee. The telecommunications giant also has its presence in the education and retail sector.

Post the rebranding, the company has been in major turmoil raising questions about its survival, be it losing its market share or its massive Rs 1.8 trillion liability. The company’s efforts to raise Rs 25,000 crore from investors had not yielded fruit, resulting in the absence of any relief measures from the government. The Supreme Court, too, has ruled against its application for recomputation of AGR dues, resulting in a considerable blow to its prospective revival. The company announced on the 12th of January 2022 that it will accept the Indian government’s proposal to convert its spectrum and adjusted gross revenue (AGR) dues to equity, with an implied cost of conversion of ₹10 per share, making the government the largest shareholder of the company.

Task in Hand :

You are strategic consultants working under the CEO, and you are to increase the Brand Reach with special emphasis on Customer Acquisition and Retention in order to acquire better market share.

Deliverables : A report not less than 15 pages and a PPT not more than 8 slides containing -

Executive Summary

New Products and Services

Feasibility Analysis

STP and SWOT Analysis

Marketing Strategies (Conventional and Unconventional)

Phase Wise Implementation Plan

Operational Plan

HR (Structure, Strategies)

Data Privacy and Management (Strategies and Policies)

Finances (Sources of Funds, Allocation of Funds, Revenue Structure (3 Years), Cash Flow, ARPU (Changes and Increments)

Pricing Strategies and Revenue Model to penetrate the market and acquire better market share

Press Release

Submission : 8AM tomorrow (25th Feb)

Email your report and PPT to ed.thrive2022@gmail.com & carry required hardcopies.

[bestitmagazine]

News IT

News IT The price range starts from $329 for iPad and $499 for iPad mini ($649 with 5G), available from September 24th. The Union Cabinet has considered a moratorium of four years for the payment of the Adjusted Gross Revenue (AGR) dues. It is providing a relief to the debt-ridden telcos - Vodafone Idea and Bharti Airtel. Visit on Varindia site to get News IT, IT News, Latest Technology News, Latest Technology News India, Live Tech News, IT News in India, IT Magazines Online, IT Magazines https://www.varindia.com/

[ashutentaran]

Vodafone Idea loss widens in Jan-Mar quarter to Rs 11643 crores, due to higher finance costs and exceptional items on account of licence fees and spectrum dues in the AGR case.

Jindal Steel & Power has accepted a bid to sell its Oman unit to Templar Investments, a promoter firm, for nearly $1 billion.

[werindialive]

Ravi Shankar Prasad says No one can dictate terms in India

Addressing a press conference on Monday, Telecom minister Ravi Shankar Prasad said that Vodafone dictating the terms is not acceptable in India. He was referring to the latest comments made by Vodafone Group for pulling down the adjusted gross revenue (AGR) dues for the company specifically.

Prasad at the Times Network India Economic Conclave 2019 on Monday said, “I don’t appreciate this kind of statement. Very firmly and very clearly. We have given all the opening for doing business but no one should dictate terms on us. India is a sovereign country...,”

For the uninitiated, Vodafone Group’s CEO Nick Read, in November said that there is a lot of pressure in the telecom sector after the Supreme Court has given the verdict on AGR dues. He further added that if not given relief,  the company might eject as the UK arm will not infuse any further equity.

Ravi Shankar, the Telecom Minister however assured that monopoly was never an important agenda and the government values BSNL & MTNL as important assets.

“We don’t countenance any monopoly nor we will. BSNL and MTNL are strategic assets...Therefore we owe it...For a fair competition a strategic PSU must remain in the field,” Prasad said.Meanwhile, the Supreme Court will hear to the plea filed by VIL & Bharti Airtel. The government has also given a two year spectrum moratorium to the telecom companies. After the October verdict by the Supreme Court related to AGR, the two telecom companies are left with a debt of over Rs 89,000 crore which needs to be paid by January end.

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[tradeplus-online]

Vodafone Idea opted for a 4-year moratorium on payment of Rs 8,837 Cr in AGR dues

Hero Motocorp, India’s largest 2-wheeler manufacturer, plans to hike the retail prices of its motorcycles and scooters by up to Rs 3,000

Hero Motocorp, India’s largest 2-wheeler manufacturer, plans to hike the retail prices of its motorcycles and scooters by up to Rs3,000. This is likely to be effective from 01st July 2022. The auto sector has been badly hit by the spike in the cost of key inputs like steel, aluminum, plastics, etc and this price hike will help to partially offset the impact of the cost inflation. The precise price increase would differ from model to model. Hero Moto offers a range of models with a price range extending from Rs51,450 to Rs1.32 lakhs.

IIFL Finance, the NBFC arm of the IIFL Group, plans to raise debt capital to the tune of Rs5,000 crore via the issue of bonds through a public issue

IIFL Finance, the NBFC arm of the IIFL Group, plans to raise debt capital to the tune of Rs5,000 crore via the issue of bonds through a public issue. This is still subject to statutory approvals. The sum of Rs5,000 crore would be raised in one or more tranches via issuance of redeemable non-convertible debentures. IIFL Finance offers home loans, gold loans, and business loans; with a focus on LAP financing, MSME funding, microfinance, and developer and construction finance. IIFL Finance has 3,119 branches across 500 cities.

Vodafone Idea opted for a 4-year moratorium on payment of Rs 8,837 crore in AGR dues

Vodafone Idea opted for a 4-year moratorium on payment of Rs8,837 crore in AGR dues. The company also has the option to convert interest on deferred amounts into equity to the government. The government is already set to own 33% of Vodafone Idea in lieu of interest on dues with an NPV of Rs16,000 crore. They have to decide on the conversion of the interest on AGR into equity within 90 days. Telecom operators owe Rs1.65 trillion as adjusted gross revenues (AGR) share to the government up to the fiscal year 2018-19.Related Articles

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The Maran family-owned Sun TV Network touched its 52-week low of Rs 402.55

The Maran family-owned Sun TV Network touched its 52-week low of Rs 402.55 and has erased all its gains recorded after the conclusion of the IPL rights for the 2023-27 period. Apart from a host of regional language channels, Sun TV group also owns the SunRisers Hyderabad cricket franchise in the IPL as well as the Digital OTT Platform Sun NXT. IPL PAT is likely to rise from Rs73 crore in FY22 to Rs300 crore in FY24. However, markets are worried about the strategy for the digital OTT platform and plan for the cash pile.

The biggest loser in the Russian cheap oil story may be Iraq as Russian oil steadily flows into Asia at much lower costs

The biggest loser in the Russian cheap oil story may be Iraq as Russian oil steadily flows into Asia at much lower costs. India and China were the major buyers of Iraq’s Basrah Medium or Basrah Heavy crude, but the demand has tepid in the current Asia trading cycle since cheaper Russian oil is being preferred. Iraq is also considering offering discounts to its major customers. However, the case is not the same for all OPEC members as cargoes of Abu Dhabi Murban oil, which yields more diesel, traded at an $11/bbl premium.

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[thenetionalnews]

Vodafone: Vodafone Idea defers Rs 8,837 crore AGR dues payment, gets option to pay interest via equity | India Business News

Vodafone: Vodafone Idea defers Rs 8,837 crore AGR dues payment, gets option to pay interest via equity | India Business News

NEW DELHI: Debt-ridden telecom operator Vodafone Idea has decided to defer payment of additional adjusted gross revenues of Rs 8,837 crore dues by a period of four years. The company in a late night filing on June 22, said that the DoT on June 15, has raised adjusted gross revenue (AGR) demand for additional two financial years beyond 2016-17, which were not covered under the Supreme Court order…

[jyotifestpost]

Vodafone Idea share price zooms 10% amid heavy volumes on ratings upgrade by CARE

Shares of Vodafone Idea (VIL) soared 10 per cent to Rs 11.75 on the BSE in Wednesday’s intra-day trade on the back of heavy volumes after Care Ratings (CARE) upgraded its rating on the company’s long term bank facilities and non-convertible debentures (NCD). The rating agency also assigned a 'stable' outlook.

At 09:51 am; the stock traded 7 per cent higher at Rs 11.48, as compared to 0.92 per cent rise in the S&P BSE Sensex. A combined 198 million equity shares changed hands at the counter on the NSE and BSE in first 35 minutes of trade.

The revision in the ratings assigned to the bank facilities and instruments of Vodafone Idea Limited (VIL) follows improvement in the industry dynamics post telecom reforms announced by the Government of India (GoI), which addressed the liquidity woes of the sector to a large extent, including that of VIL, Care Ratings said in rating rationale.

Followed by tariff hikes across telecommunications service providers (TSPs), raising average revenue per user (ARPU) for the industry at large, VIL’s on-time repayment of large NCD obligations in H2FY22 are the credit positives. Subsequent to the telecom reforms, CARE Ratings expects the fund-raising activities to pick up pace at VIL’s level, based on articulation by the management, including partial funding support from the existing promoters in the near future, the rating agency said.

Going forward, the ability of the company to raise funds to support its operations, undertake capex and refinance the short-term debt remains a key rating monitorable. Prevalent intense competition in Indian Telecom industry impacting VIL’s operational performance as reflected in its declining subscriber base are other credit weaknesses, Care Ratings said. 

Meanwhile, the stock had corrected 36 per cent from its 52-week high level of Rs 16.79 on December 10, 2021 till Tuesday. The company’s board on January 10, 2022 had approved the conversion of the full amount of interest related to spectrum auction installments and AGR dues into equity. The Net Present Value (NPV) of this interest is expected to be about Rs 16,000 crore as per the company’s best estimates, subject to confirmation by the Department of Telecommunications (DoT).

[investyadnya]

Government of India to own stakes in TTML and Vodafone Idea | What Should Shareholders Do?

Government of India to own stakes in TTML and Vodafone Idea | What Should Shareholders Do?

On Tuesday 11th January 2022, Vodafone Idea announced the conversion of its Interest due on Spectrum and AGR to equity which will make the Government of India, the largest shareholder of the company. What’s more in the announcement and what should shareholders do after this announcement, let’s discuss it in detail in this article. 1) Vodafone-Idea News: Government of India to own a majority…

[a-2-z-news]

Tata Teleservices also decided to give 9.5% shares to the Government of India in lieu of the interest due

Tata Teleservices also decided to give 9.5% shares to the Government of India in lieu of the interest due

Tata Teleservices Update: After Vodafone Idea, the board of Tata Group’s telecom company Tata Teleservices also decided to convert the entire interest amount of the AGR (Adjusted Gross Revenue) dues into equity (shares). But have put their stamp on it. With this decision of Tata Teleservices, the Government of India will now hold 9.5 percent stake in the company. The company owes the government…

[bestitmagazine]

IT News in India

IT News in India the relief package will bring reforms in the telecom sector by way of granting moratorium on unpaid dues, redefining AGR (Adjusted Gross Revenue) prospectively and cutting Spectrum Usage Charges, a source said. The package, which initially was widely expected to be taken up by the Cabinet last week, will offer a breather to the three private player industry, at a time when Vodafone Idea is confronting existential crisis. Visit on Varindia site to get News IT, IT News, Latest Technology News, Latest Technology News India, Live Tech News, IT News in India, IT Magazines Online, IT Magazines https://www.varindia.com/

[widelyvision]

Govt may have to take the biggest hit if Vodafone Idea fails - Times of India

Govt may have to take the biggest hit if Vodafone Idea fails – Times of India

NEW DELHI: With outstanding dues of nearly Rs 1.6 lakh crore in spectrum payments and AGR dues, the government may be the biggest loser in case Vodafone Idea collapses under crippling losses and heavy debt. The hit for the government just doesn’t stop here. If one adds the outstanding Rs 23,000 crore owed to the banks, the impact could be one of the biggest in corporate history as a large part of…