The Division of Telecom (DoT) has requested debt-ridden telecom operator Vodafone Thought to both deposit a financial institution assure of Rs 6,090.7 crore or Rs 5,493.2 crore in money for shortfall of mixture fee made for spectrum the corporate acquired in 2015, the corporate mentioned.
The corporate, nevertheless, is in dialogue with the DoT to pay the dues by fairness.
“The combination fee made by the corporate for every of spectrum auctions are larger than the pro-rated use of spectrum apart from for the 2015 public sale, the place there’s one-time partial shortfall and DoT has requested both to supply financial institution assure of Rs 60,907 million (Rs 6,090.7 crore) for one yr or make a money fee of Rs 54,932 million (Rs 5,493.2 crore) by March 10, 2025,” Vodafone Thought Non-Govt Director Himanshu Kapania mentioned in a observe.
As on December 2024, the excellent debt from banks (together with curiosity accrued however not due) of the group is Rs 2,345.1 crore and deferred fee obligation in the direction of spectrum payable over time until FY 2044 and AGR (together with curiosity accrued however not due) payable over time until FY 2031 of the group aggregates to over Rs 2.27 lakh crore.
“The corporate continues to be in discussions with DoT and has requested to reach at an answer for this requirement as envisaged within the telecom reforms bundle 2021,” Kapania mentioned.
Vodafone Thought (VIL) has obligations to clear Rs 1,200 crore mortgage from banks and Rs 2,188.6 crore in the direction of spectrum dues by December 31, 2025.
The installments associated to spectrum and adjusted gross income (AGR) instalment falling due throughout FY26 and shortfall associated to the 2015 spectrum public sale mixture to Rs 32,723.5 crore.
Kapania mentioned in case there’s any shortfall in fee to the federal government then the corporate expects it to be transformed into fairness.
The federal government is the most important single shareholder in Vodafone Thought with 23.15 per cent stake as of December 31, 2024.
VIL Promoters — Aditya Birla Group and Vodafone Group — maintain 14.76 per cent and 22.56 per cent stake within the firm, respectively.
Vodafone Thought on Tuesday reported narrowing of losses to Rs 6,609.3 crore throughout the December quarter, because the debt-laden telco clinched a sequential rise in ARPU.
The income from operations stood at Rs 11,117.3 crore throughout the quarter, over 4 per cent larger than the corresponding interval final yr.
