Vodafone Idea may pay Rs1k-2k crore as upfront payment
By MYBRANDBOOK
According to sources, Vodafone Idea (VIL) may deposit Rs 1000-2000 crore as a ‘reasonable’ upfront payment in order to avail of a staggered payment of adjusted gross revenue (AGR) dues.
ICICI Securities said in a note, “VIL can source funds from Vodafone Plc’s unpaid indemnity of Rs 67 billion and can receive Rs 36 billion for its Indus stake on merger between Bharti Infratel and Indus. In our view (this amount) would satisfy the SC since the company’s balance sheet position would justify it as ‘reasonable’ payment.”
Credit Suisse estimates that with no access to incremental debt funding, Vodafone Idea could at best pay Rs 5000 crore of incremental dues. The telco faces over Rs58,000 crore in AGR dues comprising license fees, spectrum usage charge, interest and penalties, of which it has nearly Rs7,000 crore.
The Supreme Court has said telcos should make an upfront payment to avail of a staggered payment timeline.
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