Kumar Mangalam Birla, Vodafone Plc to infuse fresh funding in Vodafone Idea
Vodafone Idea is likely to get fresh investments from its promoters soon, said a Zee Business TV report on Tuesday.
Vodafone Idea is likely to get fresh investments from its promoters soon, said a Zee Business TV report on Tuesday. This development could be a game changer for Vodafone Idea as it comes on back of the relief measures announced by the government for telecom companies recently, said Zee Business research analyst Kushal Gupta.
In a breather for struggling telecom companies, the Centre in mid-September had allowed a 4-year moratorium on AGR and spectrum dues, among other relief measures for telecom companies, including Reliance Jio, Airtel, Vodafone Idea and others.
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Kushal said promoters Kumar Mangalam Birla and Vodafone Plc both can infuse fresh funding in the beleaguered telecom operator.
वोडाफोन-आइडिया क्यों फोकस में?
क्या वोडाफोन-आइडिया में प्रोमोटर डालेंगे पैसा?
जानिए पूरी खबर कुशल गुप्ता से...#VodafoneIdea | @KushalGupta44 | @Neha_1007 pic.twitter.com/jCC5pUoANg
— Zee Business (@ZeeBusiness) October 12, 2021
"It is anticipated that Aditya Birla Group chairman Kumar Mangalam Birla may increase his stake in the company. Another promoter Vodafone Plc may also put money in Vodafone Idea as it has around 28% stake in Indus Tower, whose valuation is estimated to be Rs 23,000 crore. If they sell some stake from the Indus Tower, the proceeds from that stake could be used as fresh funding in Vodafone Idea," said Kushal.
He further said that this fresh funding in the company will also see other investors of Vodafone Idea, besides promoters, taking interest in the telecom company. " This will not only increase promoters' interest in the company, but will also help it settle its liabilities going forward. The relief package announced by the government has boosted investors interest in the company, " he said.
Meanwhile, Vodafone Idea stock closed the day at Rs 10.67, down 0.19 or 1.75% intraday on the BSE on Tuesday. The stock made a high of Rs 11.15 and low of Rs 10.50 during the trading session on Tuesday.
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