Tag: voda idea

Shares of Vodafone Idea slumped 20 percent to Rs 12.05 on the BSE in Tuesday’s intraday trade after the telecom company’s board approved a plan to convert the full amount of interest related to spectrum auction installments and adjusted gross revenue (AGR) dues into government equity."Since the average price of the Company’s shares at the relevant date of 14.08.2021 was below par value, the equity shares will be issued to the Government at a par value of Rs 10/- per share, subject to final confirmation by the DoT. The conversion will therefore result in dilution to all the existing shareholders of the Company, including the Promoters," Vodafone Idea said. The new shareholding structure at Vodafone Idea, with the government, set to hold around a 35.8 percent stake, could turn out to be a significant breakthrough for the financially-stretched mobile operator. It leaves Vodafone with a 28.5 percent holding, while the Aditya Birla Group's stake will be at 17.8 percent. Read more

Shares of Tanla Platforms were locked at a 5 percent upper circuit and hit a 52 week high of Rs 1,675.90 on the BSE on Tuesday after the company announced the partnership with Vodafone Idea. Tanla and Vodafone Idea announced a partnership wherein Tanla will be the exclusive provider of solutions to secure, encrypt and enhance performance for the entire international messaging traffic on the Vi network. India’s international messaging market is estimated to be around Rs 3,500 crore annually," Tanla Platforms said in an exchange filing. The companies entered into a partnership to deploy patented block-chain enabled Wisely Platform to manifold increase ROI for global enterprises, The partnership will be hosted on Tanla’s cloud-based ‘Wisely’ platform, co-developed with Microsoft, and is expected to help the telco strengthen its position in the global enterprise market. Read more

Shares of telecom service providers, Bharti Airtel and Vodafone Idea (Vi) shares fell up to 9 per cent in Wednesday’s trade after Reliance Jio rolled out postpaid tariff plans, making a concerted bid for the higher paying subscribers of India's older operators. Under the new plans, Jio is offering an extensive content portfolio at a rate which is 6-20 per cent cheaper than Airtel and Voda-Idea. Reliance Jio has introduced new postpaid plans called JioPostpaid Plus that offers a free subscription to OTT platforms Amazon Prime, Disney+ Hotstar, and Netflix and a host of other benefits. It is also offering in-flight connectivity for Indian travellers going overseas, free international roaming in the US and UAE, besides other offers. Jio’s new monthly post-paid tariff plans range from Rs 399 to Rs 1,499, will be available from September 24 in Jio Stores and via home delivery, while Airtel’s postpaid plans start at Rs 499, though Vi’s also begin from Rs 399. Read more

Shares of Bharti Airtel Ltd. gained 7 per cent to Rs. 555, a biggest single-day gain since May, while Vodafone Idea Ltd. hit a lower circuit of 20 per cent after the Supreme Court granted telecom operators 10 years to pay thousands of crores worth of pending dues. The apex court said telcos should pay 10 per cent of the AGR-related dues by March 31, 2021. It further added that every year by February 7 a payment has to be made. The chairmen of the telecom companies will have to give undertakings for payments, according to an order by the three-judge panel headed by Justice Arun Mishra. Default on payment instalments will invite interest, penalty and contempt of court. According to the DoT’s calculations, Bharti Airtel owes the exchequer Rs 43,780 crore, of which the company has paid Rs 18,004 crore. Vodafone Idea has paid Rs 7,854 crore of its Rs 50,399 crore dues.Market experts think the ruling will certainly put pressure on Vodafone Idea which owes more than Rs 50,000 Read more