At its earnings call for the quarter ended March 2023, Indus Towers Limited has stated that Vodafone Idea Limited (Vi) has started clearing 90-100 per cent of its current dues owed to the towerco. Further, Indus Towers is pushing Vi to clear its outstanding dues and has ruled out any further relaxation in the payment plan.
The tower company also stated that it is closely monitoring Vi’s payment patterns and its funding situation to recover its accumulated dues as per the agreed schedule. However, Indus Towers stated that it would not reduce its services or cut Vi’s access to its towers as long as the telco continues paying its current dues.
Under the current payment plan, Vi has committed to clear 100 per cent of its current dues to Indus Towers from January 2023 onwards along with paying its accumulated past dues as of December 31, 2022 over a seven month period beginning in January.