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The Union Cabinet has approved a relief package for Vodafone Idea, freezing ₹87,695 crore in AGR dues and rescheduling payments from FY32 to FY41 to support the debt-laden telecom operator.

Govt approves package for VIL; freezes AGR dues at Rs 87,695 cr to be paid from FY32 to FY41: Sources

The Union Cabinet has approved a relief package for Vodafone Idea, freezing ₹87,695 crore in AGR dues and rescheduling payments from FY32 to FY41 to support the debt-laden telecom operator.

The Union Cabinet on Wednesday approved a relief package for debt-laden Vodafone Idea, freezing the AGR (Adjusted Gross Revenue) dues at Rs 87,695 crore and rescheduling the payment from FY32 to FY41, according to sources.
The Telecom Department will also reassess the AGR dues frozen based on the Deduction Verification Guidelines and audit reports, sources told PTI.
The outcome will be decided by a committee appointed by the government.
Sources said that in addition, the AGR dues pertaining to FY18 and FY19 (already finalised by the Supreme Court order of 2020) will be payable by Vodafone Idea over FY26 to FY31, without change.
The steps will protect the interest of the government, having about 49 per cent stake in the telco, enable orderly payment of dues to the Centre by way of spectrum auction charges and AGR dues, ensure competition in the sector and protect the interest of 20 crore VIL consumers.

Goldman Sachs predicts a bleak future for Vodafone Idea, with a target price of ₹2.5, while Citi is bullish at ₹22. Meanwhile, Kumar Mangalam Birla shows confidence, buying 1.86 crore shares, signaling a continued commitment to the company.

What's Vodafone Idea share really worth, ₹2.5 Or ₹22? | Goldman Sachs, Citi, Kumar Mangalam Birla, #Vi

Goldman Sachs predicts a bleak future for Vodafone Idea, with a target price of ₹2.5, while Citi is bullish at ₹22. Meanwhile, Kumar Mangalam Birla shows confidence, buying 1.86 crore shares, signaling a continued commitment to the company.

Two rupees 50 paise or 22 rupees?
What's Vodafone Idea share really worth?
But why are we asking this question?
It's because of the tale of two global brokerage firms: Goldman Sachs vs. Citi.
Goldman Sachs says 2.5 rupees target price. Why? They think Vi is overvalued compared to Airtel and Jio.
Citi disagrees with its 22 rupees target price. Their view? Recent positive developments, including government support could change things for the company.
And then there&rsquo;s a plot twist: Promoter Kumar Mangalam Birla just bought 1.86 crore shares on September 6.
So, who's right? The pessimist, the optimist, or the promoter? Tell us in comments.

Nokia and Ericsson will receive up to 1,520 crore rupees and 938 crore rupees respectively, pending approval by VIL shareholders at the Extraordinary General Meeting or EGM scheduled for July 10, 2024

Vodafone Idea to allocate shares to settle dues with Nokia and Ericsson

Nokia and Ericsson will receive up to 1,520 crore rupees and 938 crore rupees respectively, pending approval by VIL shareholders at the Extraordinary General Meeting or EGM scheduled for July 10, 2024

Debt-ridden telecom operator Vodafone Idea will allocate shares worth Rs 2,458 crore to vendors Nokia India and Ericsson India to clear their partial dues, a regulatory filing said on Thursday.
The board of Vodafone Idea Ltd (VIL) has cleared allotment of shares on preferential basis at about 35 per cent higher price compared to the follow-on offer price of the company, and comes with a lock-in of 6 months.
Also read/watch - <a title="GST Council to meet on June 22: Key industry expectations" href="https://www.editorji.com/business-news/gst-council-to-meet-on-june-22-key-industry-expectations-1718276254513">GST Council to meet on June 22: Key industry expectations</a>
"The Board of Directors of Vodafone Idea Limited today approved preferential allotment of about 166 crore equity shares of face value of Rs 10 each, at an issue price of Rs 14.80 per share, for an aggregate consideration of up to Rs 2,458 crore, to two of its key vendors, Nokia Solutions and Networks India Private Limited and Ericsson India Private Limited," the filing said.
Nokia and Ericsson will participate for up to Rs 1,520 crore and Rs 938 crore respectively, subject to approval by VIL shareholders at the EGM to be held on July 10, 2024, the telco said in a release.
"Nokia and Ericsson both have a long-term partnership with VIL, as key suppliers of network equipment, and this preferential allotment will enable VIL to clear part of their outstanding dues," the filing said.&nbsp;

Shares of Vodafone Idea have doubled over the last 12 months, though the stock has corrected 30 percent from its recent peak

Vodafone Idea's ₹18,000 cr FPO to launch on April 18, floor price set at ₹10

Shares of Vodafone Idea have doubled over the last 12 months, though the stock has corrected 30 percent from its recent peak

Vodafone Idea has announced that its follow-on public offer or FPO worth 18,000 crore rupees will commence on April 18 and run until April 22. The floor price for shares is set at 10 rupees, with a cap of 11 rupees. Anchor bids are scheduled for approval on April 16. According to the moneycontrol report, the FPO, managed by Jefferies, SBI Caps, and Axis Capital, marks one of India's largest such offerings and comes as the debt-laden telecom company seeks to raise significant funds. Shares of Vodafone Idea have doubled over the last 12 months, though the stock has corrected 30 percent from its recent peak.
"The Board of Directors of the company, at its meeting held on April 11, 2024 approved Further Public Offering (FPO) of equity shares, aggregating up to Rs 18,000 crore. The capital raising committee in its meeting held today that is April 12, 2024 approved the price band for the FPO issuance," the company said in a BSE filing.
The higher-end of the price band (Rs 11) is at a discount of about 26 per cent compared to recently approved preferential issue price to the promoter entity at Rs 14.87 and a discount of about 15 per cent compared to last closing price of Rs 12.95.

The company's stock had surged dramatically after reports suggested Elon Musk's potential visit to Gujarat for discussions about a prospective alliance with Vodafone Idea

Vodafone Idea share price drops after it refutes collaboration with Elon Musk's Starlink 

<h2>The company's stock surged dramatically after reports suggested Elon Musk's potential visit to Gujarat for discussions about a prospective alliance with Vodafone Idea</h2>

Vodafone Idea faced a significant plunge in its share price following the telecom company's dismissal of media reports regarding a potential collaboration with Elon Musk's Starlink. The share price touched a low of ₹15.95 per share on the NSE, experiencing a decline of about 5% from its previous close of ₹17 per share.
Vodafone Idea's response: Denial and Disclosure
In response to the market speculation, Vodafone Idea countered the claims through an exchange filing, clarifying that no discussions were underway with Starlink. The company also emphasized its lack of awareness regarding the source of the news and reiterated its commitment to compliance with SEBI Listing Regulations. Also read/watch - <a title="Billionaire promoters in India Inc hit record high of 152 in 2023, this person made an entry: Report" href="https://www.editorji.com/business-news/markets/billionaire-promoters-in-india-inc-hit-record-high-of-152-in-2023-this-person-made-an-entry-report-1704198872354">Billionaire promoters in India Inc hit record high of 152 in 2023, this person made an entry: Report</a> Stock Surge and Reversal
The company's stock had surged dramatically after reports suggested Elon Musk's potential visit to Gujarat for discussions about a prospective alliance with Vodafone Idea. These reports, hinting at Starlink's interest in partnering with an Indian spectrum provider for its broadband venture, led to a substantial increase in Vodafone Idea's share value. However, the subsequent clarification from the company saw a rapid reversal in the stock's trajectory. Plagued by high debt burden, the company has been seeking fresh fund infusion from various sources including promoters Aditya Birla Group and Vodafone Plc.

Vodafone Idea, a top Indian telecom operator, refutes acquisition rumours involving Verizon, Amazon, and Starlink, providing relief to investors

Vodafone Idea denies acquisition talks with Verizon, Amazon, and Starlink

Vodafone Idea, a top Indian telecom operator, refutes acquisition rumours involving Verizon, Amazon, and Starlink, providing relief to investors

Vodafone Idea, one of India&rsquo;s leading telecom operators, has denied reports that it is in talks with Verizon, Amazon, or Starlink for a potential acquisition.
The news comes after an online portal published a report claiming that Verizon, Amazon, and Starlink are in the race to acquire the cash-strapped telco. The report also suggested that market experts expect one of the three US companies to pick up a controlling stake in the Indian telco. However, Vodafone Idea has denied these claims and stated that the news item is incorrect.
Vodafone Idea is promoted by UK&rsquo;s Vodafone Group and Indian conglomerate Aditya Birla Group, both together holding 50.1% stake. The government is the company&rsquo;s largest shareholder with a 33.1% stake after it converted the telco&rsquo;s accrued interest towards adjusted gross revenue (AGR) arrears into equity in February 2023.
Vodafone Idea&rsquo;s denial of acquisition talks with Verizon, Amazon, or Starlink comes as a relief to its investors who were concerned about the company&rsquo;s future prospects.
The company has been struggling with mounting debt and intense competition from rivals such as Reliance Jio and Bharti Airtel. However, Vodafone Idea&rsquo;s recent stock rally indicates that investors are optimistic about its future prospects.
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Vodafone Idea's plea for 30-day extension on ₹1,680 cr spectrum payment due to financial stress comes amid 5G expansion focus, Q1 net loss of ₹7,840 cr and subscriber decline

Vodafone Idea seeks 30-day extension for ₹1,680 cr spectrum payment amid financial strain

Vodafone Idea's plea for 30-day extension on ₹1,680 cr spectrum payment, due to financial stress comes amid 5G expansion focus, Q1 net loss of ₹7,840 cr and subscriber decline

In the midst of financial turbulence, Vodafone Idea has reached out to the Department of Telecommunications (DoT) for an additional 30 days to settle a spectrum auction installment worth approximately ₹1,680 crore, originally due on August 17. The company intends to include interest in the payment as well.
Chief Financial Officer of Vodafone Idea, Murthy GVAS, revealed that the request was made in accordance with the terms of the Notice Inviting Applications (NIA), and the company is seeking to leverage the grace period offered by the DoT.
The move comes despite one of the company's promoters having committed to extending financial support of up to ₹2,000 crore to address impending payment obligations.
Earlier this year, Vodafone Idea secured a 5G spectrum during the July 2022 auction, acquiring both mid-band (3300 megahertz) and millimeter wave frequencies in the 26 GHz band.
In discussions with investors and banks, Chief Executive Officer Akshaya Moondra expressed optimism about closing funding deals in the upcoming quarter.
While the company's financial statement for the first quarter ending June 30 indicated a net loss of ₹7,840 crore, there was a marginal increase of 2.3% in consolidated revenue from operations.
Vodafone Idea's financial landscape reflects a gross debt of ₹2,11,760 cr as of June 30, 2023, with deferred spectrum payment obligations accounting for ₹1,33,740 cr and Adjusted Gross Revenue (AGR) liabilities of ₹66,860 crore due to the government.
Additionally, the company holds debt from banks and financial institutions amounting to ₹9,500 crore and has raised funds through debt instruments totaling ₹1,660 crore.
The net debt stands at ₹2,11,510 crore, with cash and cash equivalents of ₹250 crore.
The telecom provider has experienced a decline in its subscriber base, which contracted from 24 cr to 22.14 cr in the past year. To counter this trend, CEO Moondra emphasized the necessity of expanding 4G coverage and investing in 5G technology.
Also Watch: <a href="https://www.editorji.com/business-news/vodafone-idea-pays-10-of-license-fee-amidst-cash-crunch-seeks-extension-for-balance-1689825690745">Vodafone Idea pays 10% of license fee amidst cash crunch, seeks extension for balance</a>
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Vodafone Idea pays only 10% of license fee due to cash crunch, requests more time for balance payment. Stakeholder interests at stake.

Vodafone Idea pays 10% of license fee amidst cash crunch, seeks extension for balance

Vodafone Idea pays only 10% of license fee due to cash crunch, requests more time for balance payment. Stakeholder interests at stake

As per an ET report Vodafone Idea (Vi) has managed to pay only around 10% of its license fee and spectrum usage charge for the June quarter, citing a severe cash crunch. The telecommunications company has sought additional time from the government to clear the remaining balance.
ET report quoting sources revealed that Vi has submitted approximately ₹77 crore to the Department of Telecommunications (DoT) towards license fees, significantly lower than the ₹770 crore due for the April-June quarter. Additionally, the company has settled nearly ₹14 crore in spectrum usage charges (SUC), as opposed to the ₹137 crore owed in the fiscal first quarter.
Facing financial strain, Vi is believed to have requested an extension until October to pay its dues for the June quarter. The company aims to minimize operational continuity risks and accommodate the interests of all stakeholders, especially given the ongoing delay in concluding its much-needed fundraising efforts.
This isn't the first time the joint venture between Vodafone Plc and Aditya Birla Group has struggled to clear its statutory dues. In the previous quarter, Vi also failed to meet its obligations to the DoT and was granted time until July 31 to pay the full license fee in installments. The government, which holds a 33.1% stake in Vi, has previously been flexible with the telco's delayed payments.
However, Vi may face consequences for the delayed payment as per its license agreement, including interest charges. Currently, telecom operators are required to pay 8% of their adjusted gross revenue (AGR) as license fees to the DoT. Failure to meet statutory dues can result in penalties.
Vi's cash crunch has been exacerbated by the reduced revenue share for SUC following the government's decision to waive this statutory fee for airwaves acquired from last year's 5G auction onwards. Previously, Vi's quarterly SUC payout amounted to over 1% of AGR, but the recent change has brought it down from 3-4% of AGR.
In the past three quarters, Vi's license fee payments ranged between ₹600 crore and ₹800 crore, as per insiders familiar with the situation.
By the end of FY23, Vi's net debt reached ₹2.09 lakh crore, while the company held a modest cash balance of ₹230 crore. Data from the company indicates a debt of ₹11,390 crore from banks and financial institutions during the quarter.

Shares of Vodafone-Idea spiked over 20% on the back of the govt agreeing to convert over Rs 16,000 crore of dues into equity, making the govt of India, the single largest shareholder in the company. 

Explained: Govt becomes largest shareholder in Vodafone-Idea

Shares of Vodafone-Idea spiked over 20% on the back of the govt agreeing to convert over Rs 16,000 crore of dues into equity, making the govt of India, the single largest shareholder in the company. Here's what this means, and whether Vodafone-Idea is out of the woods. 

Shares of Vodafone-Idea spiked over 20% on the back of the govt agreeing to convert over Rs 16,000 crore of dues into equity, making the govt of India, the single largest shareholder in the company.&nbsp;

Shares of Vodafone-Idea spiked more than 20% after the government agreed to convert over 16,000 crore worth of AGR interest dues into equity. On Friday, in a filing with the Bombay Stock Exchange, the telecom company said that the Centre had directed it to issue shares worth Rs 16,133 crore at an issue price of Rs 10 per share.&nbsp;
What does this mean?&nbsp; Post conversion of Vodafone-Idea&rsquo;s Rs 16,133 crore dues to the govt, into equity, the govt of India will have around 33% stake in the telecom company, making it the single largest shareholder. The promoters&rsquo; stake will come down to about 50% from nearly 75%.&nbsp; At a press conference, FM Nirmala Sithraman made it clear that the govt is not bearing Vodafone-Idea&rsquo;s debts. She said, &ldquo;The company is not in the position of giving the dues to the govt. That&rsquo;s why we are taking the company&rsquo;s shares. This means we are shareholders in the company. When the company will gain profit, we will also get the profit.&rdquo; The govt has also clarified that it will not be part of the company&rsquo;s management, nor will it have any representative on the board.&nbsp;
Why did Vodafone-Idea need this?&nbsp; The telecom company is reeling under a massive debt of about Rs 2.2 lakh crore, which includes around 1.5 lakh crore of AGR dues (usage and license fee that the Department of Telecommunications charges to telecom operations), as well as dues to banks, which stands at around Rs 15,000 crore. Without the govt stepping in to help the cash-strapped telecom company, there was a realistic possibility of the company going bankrupt and collapsing.&nbsp; The telecom company had been awaiting this ever since the govt announced a relief package for the telecom sector in September 2021, which allowed for conversion on deferred AGR dues owed to the govt, into equity.&nbsp;
Why did the govt agree to this?&nbsp; The govt agreed to this conversion of dues into equity, after receiving an assurance from the company that they were committed to the company and would bring in the necessary funds. Union Minister of Communications, Ashwini Vaishnaw said, &ldquo;We had sought a firm commitment that the Aditya Birla Group would run the company and bring necessary investments. Birlas have agreed and hence we have agreed to convert. We want India to be a three-player market plus BSNL and ensure healthy competition for consumers. &nbsp;
Aside from protecting its own dues and the thousands of crores owed to banks, the govt also wanted to avoid a duopoly. If Vodafone-Idea collapsed under its debt burden, it would mean that just two players, Jio and Airtel would own the giant&rsquo;s share of the market. This may prove to be unfair to consumers, as without a third player to keep the balance, two players could drive market prices.&nbsp;
Does this solve Vodafone-Idea&rsquo;s debt troubles?&nbsp; Analysts believe that this move will only solve part of the problem. The total debt of the company is over Rs 2 lakh crore. The AGR dues to the govt alone is around Rs 1.5 lakh crore. This move is a conversion of only the interest dues on AGR which is around Rs 16,000 crore. Rohan Dhamija of Analysys Mason tells Economic Times, &ldquo;VI needs around Rs 45,000 crore fresh equity infusion to bolster its 4G operations and roll out 5G networks to sustain and compete effectively with Jio and Airtel. Raising additional debt via fresh loans would further strain its already weak balance sheet&rdquo;. However, experts are of the view, that this is a big step in the right direction to help get the company back on its feet. With the govt sending out this strong message that it is behind Vodafone-Idea and is taking strong and decisive steps to make sure the company doesn&rsquo;t collapse, investors will be more confident and encouraged to infuse capital into the company. With this, the company may be able to repay some part of its dues to its vendors as well as infuse money towards its 4G operations.&nbsp;
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The relief for the company came as part of the reforms package announced by the government in September 2021.

Govt to become single largest shareholder in Vodafone Idea

Govt to become single largest shareholder in Vodafone Idea
Govt asks Vodafone Idea to convert interest dues into equity
Govt directs VI to issue shares worth ₹16,133 cr at an issue price of ₹10 per share
Govt to become single largest shareholder in Vodafone Idea

The relief for the company came as part of the reforms package announced by the government in September 2021.

Throwing a lifeline to the troubled telco, the government has approved the conversion of over Rs 16,133 crore interest dues of Vodafone Idea into equity.
With this conversion, the government is expected to hold a 33.14 per cent stake in the loss-making telecom firm, which is reeling under a debt burden of over Rs 2 lakh crore.
The decision was taken after receiving a firm commitment from Aditya Birla Group to run the company and bring necessary investment, Telecom Minister Ashwini Vaishnaw said on Friday.
Vodafone Idea will issue equity shares to the government at a face value of Rs 10 each.
The relief for the company comes as part of the reforms package announced by the government in September 2021.
(PTI)

As all eyes are on the rollout of 5G services in the country, Vodafone Idea is still facing trouble in finalising deals for 5G equipment supplies and tower tenancies with vendors.
According to ET reports, the tower company, Indus tower has called on Vodafone Idea (Vi) to clear its dues or else run the risk of losing access to its towers from November.
Vi's mobile services to its over 255 million subscribers could be seriously disrupted if Indus blocks tower access to the cash-strapped telco.
According to reports, Vi's accumulated dues to tower firms is estimated upwards of ₹10,000 crore, of which it's reckoned to owe well over ₹7,000 crore to Indus and the balance to American Tower Co (ATC).
The loss-making operator's problems regarding dues are delaying its 5G launch plans, thus leaving it vulnerable to further loss subscribers to stronger rivals like Reliance Jio and Bharti Airtel, say experts. 

Vi faces troubles to close 5G deals, Vendors demand 4G dues

Here is why your vodafone could have zero service soon

Vodafone faces troubles to close 5G deals

Independent directors on the Indus board were upset about the prolonged non-payment of dues by Vi&nbsp;

As all eyes are on the rollout of 5G services in the country, Vodafone Idea is still facing trouble in finalising deals for 5G equipment supplies and tower tenancies with vendors.
According to ET reports, the tower company, Indus tower has called on Vodafone Idea (Vi) to clear its dues or else run the risk of losing access to its towers from November.
Vi's mobile services to its over 255 million subscribers could be seriously disrupted if Indus blocks tower access to the cash-strapped telcom.
According to reports, Vi's accumulated dues to tower firms is estimated upwards of ₹10,000 crore, of which it's reckoned to owe well over ₹7,000 crore to Indus and the balance to American Tower Co (ATC).
The loss-making operator's problems regarding dues are delaying its 5G launch plans, thus leaving it vulnerable to further lose subscribers to stronger rivals like Reliance Jio and Bharti Airtel, say experts.&nbsp;

The government could pick up some stake in the beleaguered Vodafone Idea Ltd by converting a part of its dues.
This is in line with the centre's effort to keep investors confident about the telco's future.
A decision could be taken by the Cabinet on Wednesday, but there’s no certainty, a report by The Economic Times said. The government may also keep the option of converting more of those dues into equity after four years, subject to conditions, it added.
Vodafone Idea's total gross debt as of June 30 was Rs 1.92 lakh crore, comprising deferred spectrum payment obligations of Rs 1.06 lakh crore and AGR liability of Rs 62,180 crore that are due to the government. 
Debt from banks and financial institutions was Rs 23,400 crore. A report by Business Today said a consortium of banks led by State Bank of India (SBI) have called on the Indian government to give debt-laden Vodafone Idea more time to clear its tax dues and spectrum fees.

Vodafone Idea: Govt to pick stake?

The government could pick up some stake in the beleaguered&nbsp;Vodafone&nbsp;Idea Ltd by converting a part of its dues.

Vodafone Idea's total gross debt as of June 30 was Rs 1.92 lakh crore

The government could pick up some stake in the beleaguered&nbsp;<a href="https://www.editorji.com/business-news/markets/govt-becomes-the-largest-shareholder-in-vodafone-idea-move-to-ensure-survival-for-telco-1641871991523" target="_blank">Vodafone&nbsp;Idea Ltd</a> by converting a part of its dues.
This is in line with the centre's effort to keep investors confident about the telco's future.
A decision could be taken by the Cabinet on Wednesday, but there&rsquo;s no certainty, a report by The Economic Times said.&nbsp;The government may also keep the option of converting more of those dues into equity after four years, subject to conditions, it added.
Vodafone Idea's total gross debt as of June 30 was Rs 1.92 lakh crore, comprising deferred spectrum payment obligations of Rs 1.06 lakh crore and AGR liability of Rs 62,180 crore that are due to the government.&nbsp;
Debt from banks and financial institutions was Rs 23,400 crore. A report by Business Today said a consortium of banks led by State Bank of India (SBI) have called on the Indian government to give debt-laden Vodafone Idea more time to clear its tax dues and spectrum fees.

Following the lead from debt stricken Vodafone-Idea, Sunil&nbsp;Bharti&nbsp;Mittal&nbsp;led Airtel&nbsp;has moved the Supreme Court with regards to the AGR&nbsp;payments due. The review petition from Airtel challenges&nbsp;a July 23 order of the Supreme Court which had disallowed rectification of "arithmetical errors" for the calculation of adjusted gross revenue (AGR) dues. Airtel's&nbsp;total AGR&nbsp;bill stands at over Rs 35,000 cr.Vi that is facing a ballooning debt crisis has on August 13,&nbsp;urged the SC to allow the Department of Telecommu&shy;nications (DoT) to recalculate the AGR dues. Vi had calculated its rema&shy;ining AGR dues at around Rs 21,500 crore, the telecom&nbsp;department however&nbsp;arrived at around Rs 58,000 crore.
Centre has given the Indian carriers a bill of rs 1.47 lakh&nbsp;crore&nbsp;to be paid up as AGR&nbsp;dues.&nbsp;The battle has been ongoing since 2005 when the telecom&nbsp;lobby body, Cellular Operators Association of India challenged the govt's&nbsp;challenged the DoT&rsquo;s definition for AGR calculation. AGR&nbsp;is the amount&nbsp;telcos are required to pay in the form of &lsquo;revenue share&rsquo; to the Centre which is essentially&nbsp;licence fee and spectrum. The govt however contended that the telecom&nbsp;companies 'understated' or reclassified&nbsp;revenues to reduce what is due to the government. The govt then reworked how AGR&nbsp;is calculated and what sources of revenue it would include.&nbsp;

Airtel dials in to the Supreme Court, seeks review of the AGR dues 

Airtel is dialling in to the Supreme Court challenging how the contentious AGR&nbsp;bill is calculated. Vi faces a&nbsp;survival crisis as the collection calls start coming in.&nbsp;

Telcos vs Govt, Back in the Supreme Court

Following the lead from debt stricken Vodafone-Idea, Sunil&nbsp;Bharti&nbsp;Mittal&nbsp;led Airtel&nbsp;has moved the Supreme Court with regards to the AGR&nbsp;payments due. The review petition from Airtel challenges&nbsp;a July 23 order of the Supreme Court which had disallowed rectification of "arithmetical errors" for the calculation of adjusted gross revenue (AGR) dues. Airtel's&nbsp;total AGR&nbsp;bill stands at over Rs 35,000 cr. Centre has given the Indian carriers a bill of rs 1.47 lakh&nbsp;crore&nbsp;to be paid up as AGR&nbsp;dues.&nbsp;Vodafone Idea had calculated its rema&shy;ining AGR dues at around Rs 21,500 crore, the telecom&nbsp;department however&nbsp;arrived at around Rs 58,000 crore.

<h2>Airtel has filed this petition days after competitor Vodafone Idea (VI) had approached the apex court urging it to look into the miscalculations done by the Department of Telecommunications (DoT)</h2>

Following the lead from debt stricken Vodafone-Idea, Sunil&nbsp;Bharti&nbsp;Mittal&nbsp;led Airtel&nbsp;has moved the Supreme Court with regards to the AGR&nbsp;payments due. The review petition from Airtel challenges&nbsp;a July 23 order of the Supreme Court which had disallowed rectification of "arithmetical errors" for the calculation of adjusted gross revenue (AGR) dues. Airtel's&nbsp;total AGR&nbsp;bill stands at over Rs 35,000 cr. Vi that is facing a ballooning debt crisis has on August 13,&nbsp;urged the SC to allow the Department of Telecommu&shy;nications (DoT) to recalculate the AGR dues. Vi had calculated its rema&shy;ining AGR dues at around Rs 21,500 crore, the telecom&nbsp;department however&nbsp;arrived at around Rs 58,000 crore.
Centre has given the Indian carriers a bill of rs 1.47 lakh&nbsp;crore&nbsp;to be paid up as AGR&nbsp;dues.&nbsp; The battle has been ongoing since 2005 when the telecom&nbsp;lobby body, Cellular Operators Association of India challenged the govt's&nbsp;challenged the DoT&rsquo;s definition for AGR calculation. AGR&nbsp;is the amount&nbsp;telcos are required to pay in the form of &lsquo;revenue share&rsquo; to the Centre which is essentially&nbsp;licence fee and spectrum. The govt however contended that the telecom&nbsp;companies 'understated' or reclassified&nbsp;revenues to reduce what is due to the government. The govt then reworked how AGR&nbsp;is calculated and what sources of revenue it would include.&nbsp;

Kumar Mangalam Birla hung up his boots as&nbsp;Non-Executive Director and Non-Executive Chairman of the board of Vodafone&nbsp;Idea with immediate effect.&nbsp;The move comes just days after a letter was made public where KM Birla&nbsp;expressed his anguish at the current debt overhang on the company due to regulatory charges. Vodafone&nbsp;Idea currently has an outstanding debt of over Rs 1.5 lakh&nbsp;crores.&nbsp;Aditya Birla group Chairman Kumar Mangalam Birla, who holds around 27 per cent stake in Vodafone Idea, had expressed a desire&nbsp;to hand over his stake in the debt-laden Vodafone Idea to the government or any other entity chosen by the centre.&nbsp;According to official data, Vodafone&nbsp;Idea&nbsp;had an AGR liability of Rs 58,254 crore out of which the company has paid Rs 7,854.37 crore and Rs 50,399.63 crore is outstanding.&nbsp;With Tueday's fall, the stock of the telecom services provider has tanked 26 per cent in two days wiping out Rs 2700 cr in marketcap.&nbsp;

Birla dials out as chief of Vodaofone Idea board, Will the telco hang up entirely? Stock down 40% in 4 days

Birla dials out of Vodaofone Idea board, Will the telco hang up entirely? Stock down 40% in 4 days

Birla Hangs Up| Why did KM Birla disconnect from his VI board seat

<ul>
<li>KM Birla steps down from the board of Vodafone Idea</li>
<li>KM Birla&nbsp;steps down from VI board with immediate effect</li>
<li>Birla&nbsp;wrote to the govt in June willing to offer his stake in VI</li>
<li>Birla&nbsp;expressed anguish over regulatory charges on VI</li>
<li>VI total debt exceeds Rs 1.5 lakh crore</li>
</ul>

KM Birla steps&nbsp;down as non-exec chairman of Voda Idea, Vodafone has lost Rs 2700 cr in marketcap in 2 sessions.&nbsp;

Kumar Mangalam Birla hung up his boots as&nbsp;Non-Executive Director and Non-Executive Chairman of the board of Vodafone&nbsp;Idea with immediate effect.&nbsp; The move comes just days after a letter was made public where KM Birla&nbsp;expressed his anguish at the current debt overhang on the company due to regulatory charges. Vodafone&nbsp;Idea currently has an outstanding debt of over Rs 1.5 lakh&nbsp;crores.&nbsp;Aditya Birla group Chairman Kumar Mangalam Birla, who holds around 27 per cent stake in Vodafone Idea, had expressed a desire&nbsp;to hand over his stake in the debt-laden Vodafone Idea to the government or any other entity chosen by the centre.&nbsp; According to official data, Vodafone&nbsp;Idea&nbsp;had an AGR liability of Rs 58,254 crore out of which the company has paid Rs 7,854.37 crore and Rs 50,399.63 crore is outstanding.&nbsp; With Tueday's fall, the stock of the telecom services provider has tanked 26 per cent in two days wiping out Rs 2700 cr in marketcap.&nbsp;

The promoter of Vodafone&nbsp;Idea Ltd and Chairman of Aditya&nbsp;Birla&nbsp;Group, Kumar&nbsp;Mangalam&nbsp;Birla&nbsp;has offered to hand over his Rs 6,000-crore-worth&nbsp;stake in the telecom&nbsp;company to the government.
Birla, who owns over 27% stake in Voda&nbsp;Idea, is willing to hand over his stake in order to keep the telco&nbsp;afloat, as per a letter he wrote to Union Cabinet Secretary Rajiv Gauba&nbsp;on June 7.
&ldquo;It is with a sense of duty towards 27 crore&nbsp;Indians connected by VIL, I am more than willing to hand over my stake in the company to any entity-public sector/government/domestic financial entity or any other that the government may consider worthy of keeping the company as a going concern,&rdquo; Birla said in his letter.
This highlights a serious concern in the company as&nbsp;Birla offered to give up his control of the company more than a month before the Supreme Court dismissed the company's application for recalculation of the AGR dues.
VIL's debt has increased sharply in the last four years to Rs 1.6 lakh&nbsp;crore as of March 2021 end, from around Rs 37,000 crore in FY16.

Birla ready to hang up on Vodafone, Will the Govt pick up the call?

Kumar Mangalam Birla offers to hand over Vodafone Idea stake to government. Will the govt pick up this call?

Is Govt going to takeover Vodafone? Birla offers to give up stake 

Vodafone&nbsp;Idea's debt mounted to Rs 1.6 lakh&nbsp;crore&nbsp;from Rs 37,000 crore&nbsp;in the last four financial years.

The debt death knell seems to be calling Vodafone&nbsp;Idea.&nbsp;The promoter of Vodafone&nbsp;Idea and Chairman of Aditya&nbsp;Birla&nbsp;Group, Kumar&nbsp;Mangalam&nbsp;Birla&nbsp;has offered to hand over his Rs 6,000-crore-worth&nbsp;stake in the telecom&nbsp;company to the government.
Birla, who owns over 27% stake in Voda&nbsp;Idea, is willing to hand over his stake in order to keep the telco&nbsp;afloat, as per a letter he wrote to Union Cabinet Secretary Rajiv Gauba&nbsp;on June 7.&ldquo;It is with a sense of duty towards 27 crore&nbsp;Indians connected by VIL, I am more than willing to hand over my stake in the company to any entity-public sector/government/domestic financial entity or any other that the government may consider worthy of keeping the company as a going concern,&rdquo; Birla said in his letter.
This highlights a serious concern in the company as&nbsp;Birla offered to give up his control of the company more than a month before the Supreme Court dismissed the company's application for recalculation of the AGR dues.
VIL's debt has increased sharply in the last four years to Rs 1.6 lakh&nbsp;crore as of March 2021 end, from around Rs 37,000 crore in FY16.

For the first time in seven months, Reliance Jio&nbsp;has beaten Bharti&nbsp;Airtel&nbsp;in terms of adding new subscribers. In February, India's largest telecom&nbsp;company added 4.4 million users while Airtel&nbsp;added 3.5 million subscribers, as per the data released by the Telecom&nbsp;Regulatory Authority of India.
Vodafone&nbsp;Idea added subscribers for the first time in 15 months. Its user base rose by about half a million subscribers in February.
With this Reliance Jio&nbsp;has&nbsp;417.42 million total subscribers,&nbsp;Bharti Airtel&nbsp;has 188.21 million and&nbsp;Vodafone Idea has 123.28 million.
The data for the number of active subscribers showed that 97.47% of the users were active for Bharti Airtel, 90.61% for Vodafone&nbsp;Idea and 78.16% for Jio.

Jio outpaces Airtel in additions, VI finally connects after 15 months 

It was a month of firsts in subscriber additions. Jio&nbsp;outpaced Airtel&nbsp;while VI finally added users after 15 months.&nbsp;

For the first time in seven months, Reliance Jio&nbsp;has beaten Bharti&nbsp;Airtel&nbsp;in terms of adding new subscribers. In February, India's largest telecom&nbsp;company added 4.4 million users while Airtel&nbsp;added 3.5 million subscribers, as per the data released by the Telecom&nbsp;Regulatory Authority of India.
Vodafone&nbsp;Idea added subscribers for the first time in 15 months. Its user base rose by about half a million subscribers in February.
With this Reliance Jio&nbsp;has&nbsp;417.42 million total subscribers,&nbsp;Bharti Airtel&nbsp;has 188.21 million and&nbsp;Vodafone Idea has 123.28 million.
The data for the number of active subscribers showed that 97.47% of the users were active for Bharti Airtel, 90.61% for Vodafone&nbsp;Idea and 78.16% for Jio.

For the first time in seven months, Reliance Jio&nbsp;has beaten Bharti&nbsp;Airtel&nbsp;in terms of adding new subscribers. In February, India's largest telecom&nbsp;company added 4.4 million users while Airtel&nbsp;added 3.5 million subscribers, as per the data released by the Telecom&nbsp;Regulatory Authority of India.
Vodafone&nbsp;Idea added subscribers for the first time in 15 months. Its user base rose by about half a million subscribers in February.
With this Reliance Jio&nbsp;has&nbsp;417.42 million total subscribers,&nbsp;Bharti Airtel&nbsp;has 188.21 million and&nbsp;Vodafone Idea has 123.28 million.
&nbsp;

Bharti Airtel&nbsp;has moved the Supreme Court over arithmetical errors in the&nbsp;telecom&nbsp;department's calculation of adjusted gross revenue (AGR)-related dues.&nbsp;Vodafone Idea may follow suit in the coming days, some reports said.
Airtel claims that total AGR dues payable on account of the license fee is limited to ₹21,000 crore, CNBC&nbsp;TV18 reported. However, the demand raised by DoT of ₹43,989 crore includes license fee dues and spectrum usage charges, of which the telco&nbsp;has paid ₹18,004 crore.
Vodafone Idea&rsquo;s total dues are currently at ₹58,254 crore. If only licence fee will be considered, total dues will come down to ₹28,308 crore, as per CNBC&nbsp;TV18's estimates. Vodafone&nbsp;Idea has already paid ₹7,854 crore.
Following the development, the scrips of Bharti&nbsp;Airtel&nbsp;and Vodafone&nbsp;Idea surged as much as 2.5% on the NSE.

Airtel moves SC against DoT's AGR calculations, claims 'math error'

Bharti Airtel&nbsp;has moved the Supreme Court over arithmetical errors in the&nbsp;telecom&nbsp;department's calculation of adjusted gross revenue (AGR)-related dues.&nbsp;Vodafone Idea may follow suit in the coming days, some reports said.&nbsp;Airtel claims that total AGR dues payable on account of the license fee is limited to ₹21,000 crore.&nbsp;Following the development, the scrips of Bharti&nbsp;Airtel&nbsp;and Vodafone&nbsp;Idea surged as much as 2.5% on the NSE.

Bharti Airtel&nbsp;has moved the Supreme Court over arithmetical errors in the&nbsp;telecom&nbsp;department's calculation of adjusted gross revenue (AGR)-related dues.&nbsp;Vodafone Idea may follow suit in the coming days, some reports said.
Airtel claims that total AGR dues payable on account of the license fee is limited to ₹21,000 crore, CNBC&nbsp;TV18 reported. However, the demand raised by DoT of ₹43,989 crore includes license fee dues and spectrum usage charges, of which the telco&nbsp;has paid ₹18,004 crore.
Vodafone Idea&rsquo;s total dues are currently at ₹58,254 crore. If only licence fee will be considered, total dues will come down to ₹28,308 crore, as per CNBC&nbsp;TV18's estimates. Vodafone&nbsp;Idea has already paid ₹7,854 crore.
Following the development, the scrips of Bharti&nbsp;Airtel&nbsp;and Vodafone&nbsp;Idea surged as much as 2.5% on the NSE.

vodafone idea

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