Vodafone Idea may get an investment of Rs 14,000 crore, the company’s stock jumped 10%
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In September 2021, the government came up with a telecom revival package. Since then, the promoters have made fresh equity investment of Rs 5,000 crore in Vodafone Idea. As per the revival plan, the promoters will help the company raise Rs 7,000 crore. According to sources, this amount can be in the form of direct equity or convertible structures from external investors. Aditya Birla Group holds 18 per cent stake in the company. The total bank debt of the company has come down from Rs 40,000 crore to Rs 12,000 crore. According to analysts, the company may face a cash shortfall of Rs 25,000 crore by 2026.
5G service
Reliance Jio and Airtel have started 5G service in the country. But Vodafone has not been able to do this till now. He also has to struggle for 4G service. The number of customers of the company is falling rapidly. In February, the number of 4G users of the company declined by 1.3 million, which was the biggest decline in 21 months. In February, the central government had converted its Rs 16,133 crore dues on the company into equity.
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