Vodafone Idea Limited (Vi) has said that the government will hold around 33 per cent in the company, after conversion of the operator’s accrued interest liability (on deferred dues) into equity. Meanwhile, the promoter group (UK’s Vodafone Plc and India’s Aditya Birla Group (ABG) will collectively hold 50 per cent in the company. At present, Vodafone Plc and ABG own 47.61 per cent and 27.38 per cent in Vi respectively.
The Department of Telecommunications (DoT) has computed the net present value (NPV) of the accrued interest due to the four-year deferral of spectrum and adjusted gross revenue (AGR) payments at Rs 161.33 billion.
Going forward, Vi’s management expects to repay a chunk of its upcoming Rs 81.60 billion debt— payable in the next 12 months—out of cash margins released after the recent return of bank guarantees (BGs), while around Rs 60 billion would be cleared from internal accruals.
