Vodafone Idea Share Rises.
Vodafone Idea (VI) Share Price Increase to 7% in end of the September
On September 30, the Vodafone Idea share price climbed 7% intraday on news that promoters may invest Rs 10,000 crore in the company.
According to press reports, the government expects the promoters of Vodafone Idea, Vodafone Group Plc, and Aditya Birla Group to invest Rs 10,000 crore in the government.
The company stated that any payment in the form of equity toward the principal or interest it owes the government will be in accordance with SEBI standards.
According to managing director and chief executive officer Ravinder Takker, such payment will not represent a special arrangement that would discriminate against other investors.
According to Takker, the government, like everyone else, is expected to follow the law.Vodafone Idea's total net debt is Rs 1.9 lakh crore, while the DOT estimates that the total AGR dues are Rs 58,254 crore.
Takker said the management was waiting for more specifics on the assistance package before deciding on a fundraising strategy.
“We will then revise our business strategy accordingly,” he continued, “and as you can guess, this bundle has a tremendous impact on our business plans.”
Vodafone Idea received shareholder permission for a Rs 25,000 crore capital raising, but was unable to raise the funds.
Vodafone Idea Limited was trading at Rs 11.92 at 10:02 a.m., up Rs 0.67, or 5.96 percent.On 15 January 2021 and 05 August 2021, the stock reached a 52-week high of Rs 13.80 and a 52-week low of Rs 4.55, respectively.
It is currently trading at a 13.99 percent discount to its 52-week high and 160.88 percent premium to its 52-week low.
Amazing boss
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