Vodafone Idea Limited (Vi) has paid dues worth Rs 15 billion, comprising revenue share licence fee and spectrum usage charges, to the Department of Telecommunications (DoT).
This includes, around Rs 7.2 billion which were pending for the January-March quarter. The balance is the full payment for the April-June period. These are concurrent dues, which are not covered by the four-year moratorium.
The regularisation of payments come as the company in April 2024 raised Rs 180 billion via follow-on public offering (FPO). Besides, one of the promoter entity Aditya Birla Group (ABG) also infused Rs 20.75 billion equity into the company. The company has also paid the first instalment of Rs 3.46 billion for the spectrum acquired in the June auctions. Besides, it has also started clearing past dues of vendors such as Indus Tower
At the end of the March quarter, Vi’s gross debt (excluding lease liabilities and including interest accrued but not due) was at 2.16 trillion. The gross debt comprises deferred spectrum payment obligations of Rs 1.3 trillion, adjusted gross revenue (AGR) liabilities of Rs 703.20 billion that are due to the government, debt from banks and financial institutions of Rs 42.12 billion and optionally convertible debentures amounting to Rs 1.6 billion.
Additionally, Vi has also engaged with a consortium of banks for debt funding of about Rs 250 billion and additional non-fund-based facilities of up to Rs 100 billion.
