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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Vodafone Idea Limited    IDEA   INE669E01016

VODAFONE IDEA LIMITED

(IDEA)
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Vodafone Idea : Debt-laden Vodafone Idea to raise up to $3.4 billion in fresh funds

09/04/2020 | 10:54am EST
A hotel employee clears a table after Vodafone Group and Idea Cellular news conference in Mumbai

Vodafone Idea Ltd said on Friday it would raise up to 250 billion Indian rupees ($3.41 billion) in fresh capital as the Indian telecom operator tries to pay off the hefty dues it owes to the government.

The loss-making carrier has been ordered by the country's top court to pay roughly 500 billion Indian rupees ($6.81 billion) in dues to the government over a ten-year period and it has so far paid 78.54 billion rupees.

Vodafone said it would raise up to 150 billion rupees through debentures and an equal amount by issuing shares and warrants, but together will not exceed 250 billion rupees.

The plan to raise fresh capital also comes as the third largest telecom operator in India grapples with an erosion in subscriber base due to a price war triggered by Reliance Industries' telecoms venture Jio Infocomm.

Vodafone lost 4.7 million subscribers in May alone, data from the country's telecom regulator showed, while its gross debt stood at 1.19 trillion Indian rupees as of June end.

The joint venture between Britain's Vodafone Plc and India's Idea Cellular had last month reported its eight straight quarterly loss and unveiled a plan to reduce costs by 40 billion rupees a year over 18 months.

The fund-raise plan will be considered at the annual general meeting of shareholders later this month, the company said.

(Reporting by Philip George in Bengaluru; Editing by Arun Koyyur)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
VODAFONE GROUP PLC -1.33% 127.22 Delayed Quote.5.19%
VODAFONE IDEA LIMITED 10.98% 13.65 Delayed Quote.28.17%
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Financials
Sales 2021 438 B 5 986 M 5 986 M
Net income 2021 -380 846 M -5 206 M -5 206 M
Net Debt 2021 1 547 B 21 149 M 21 149 M
P/E ratio 2021 -1,02x
Yield 2021 -
Capitalization 392 B 5 362 M 5 362 M
EV / Sales 2021 4,43x
EV / Sales 2022 4,13x
Nbr of Employees 11 486
Free-Float 27,9%
Chart VODAFONE IDEA LIMITED
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Vodafone Idea Limited Technical Analysis Chart | IDEA | INE669E01016 | MarketScreener
Technical analysis trends VODAFONE IDEA LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 19
Average target price 7,20 INR
Last Close Price 13,65 INR
Spread / Highest target 17,2%
Spread / Average Target -47,3%
Spread / Lowest Target -92,7%
EPS Revisions
Managers and Directors
NameTitle
Ravinder Takkar Chief Executive Officer, Director & MD
Kumar Mangalam Birla Non-Executive Chairman
Ambrish Pandey Jain Chief Operating Officer
Akshaya Moondra Chief Financial Officer
Jagbir Singh Chief Technology Officer
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