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Vodafone Thought (Vi) has to pay a complete of Rs 10,000 crore in direction of debt within the subsequent yr. However the telco’s fundraising plans aren’t materialising as there is not any concrete assertion about the identical. Vi’s payable debt for September 30, 2024, stood at Rs 7,174 crore, in keeping with a regulatory submitting (first reported by BQ Prime). Then, the corporate not too long ago reclassified its debt of Rs 3,189 crore from non-current borrowings to present maturities of long-term debt. This quantity must be paid by March 31, 2024. As of September 30, 2023, the telco’s complete debt stood at Rs 2,12,784.6 crore.
Learn Extra – Vodafone Thought Q2 FY24 Outcomes: See Key Highlights
The Indian authorities is at the moment the biggest stakeholder within the firm with over one-third of the corporate beneath its title. Aditya Birla Group has promised the telco that it may possibly present as much as Rs 2,000 crore in funds “if crucial”. As for the UK promoter Vodafone Group Plc, there is not any hope from there. Vodafone UK has carried ahead the funding of Vodafone Thought as nil on its books. The corporate has no hopes for its Indian enterprise.
Vi wants funds to pay its debt on time. The corporate’s internet loss for Q2 FY24 widened to Rs 8,737.9 crore and ARPU (common income per person) noticed a marginal development to Rs 142. The working money flows for the corporate have been down 3% for the primary six months ending September 30, 2023. The way forward for Vodafone Thought will depend on whether or not the corporate can elevate funds within the close to future. In any other case, the debt mountain that Vi is beneath may probably crush the telco’s future.
Learn Extra – Vi to Showcase Vi AirFiber and Extra at IMC 2023
Just lately, Kumar Mangalam Birla mentioned that Vodafone Thought’s staff has labored diligently to construct a core community for the 5G rollout. However these phrases do not quantity to a lot if the telco’s fundraising does not occur. With out fundraising, Vi cannot launch its 5G community because the distributors usually are not going to supply credit score to the corporate.
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