Vodafone Concept approves Rs 20,000 cr fundraise plans in a combat for survival
“The Board of Administrators of the Firm at their assembly held right this moment i.e. on 30 Could 2025, inter-alia, have authorized the next: by the use of challenge of fairness shares or by the use of challenge of every other eligible devices or securities together with securities convertible into fairness shares, International Depository Receipts, American Depository Receipts or bonds together with international forex convertible bonds, convertible debentures, warrants, non-convertible securities and/or composite challenge of non-convertible debentures together with warrants, which can or might not be listed upto an combination quantity of Rs. 20,000 crores,” the corporate stated in its trade submitting.
The fundraising might be carried out in a number of tranches through public choices, non-public placements, or a mix of each.
Devices on the desk embody fairness shares, convertible bonds, International Depository Receipts (GDRs), American Depository Receipts (ADRs), and non-convertible debentures with warrants, amongst others.
The board has empowered its Capital Elevating Committee to guage and determine probably the most appropriate route for the capital infusion.
The choice comes at a time when the telco continues to face intense competitors from friends Jio and Airtel and is in pressing want of capital to spend money on its 5G rollout and community growth plans.Additionally learn: Ola Electrical skids as widening losses dent sentiment
Vodafone Concept This fall outcomes
The debt-ridden telco reported a consolidated web lack of Rs 7,166.1 crore within the fourth quarter of FY25, which is 6.6% decrease from a web lack of Rs 7,674.59 crore reported in the identical quarter final yr.
In the meantime, the corporate’s income from operations grew 3.8% YoY to Rs 11,013.5 crore for the stated quarter, up from Rs 10,606.8 crore within the year-ago interval.
Nonetheless, sequentially, the corporate’s web loss has widened from Rs 6,609 crore in Q3FY25.
Amid rising competitors, Vodafone Concept continued to lose its subscribers.
The JV of UK’s Vodafone Group Plc and India’s Aditya Birla Group was unable to arrest subscriber churn even because it commenced pan-India 5G rollouts this quarter, masking main markets like Mumbai and Delhi. In December, the subscriber base had fallen under the 200 million mark for the primary time since its merger in 2019.
In March, it additional declined to 198.2 million. SR Batliboy and Associates, the auditors of Vi, cautioned that the operator’s monetary efficiency has impacted its capability to generate money flows that it must settle/refinance its liabilities as they fall due.
Vodafone Concept shares closed 3.22% decrease at Rs 6.92 on the BSE on Friday.
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