Telecom Sector

For Vi, in 2019, the Supreme Court upheld the Department of Telecom's AGR demand, resulting in a burden of ₹58,000 crore.

The state-owned telco was unable to pay interest on its 7.59% July 2033 notes, which were insured by the government.

Airtel recently acquired 1% of Indus for ₹862 Crore, increasing its holding to 48.95% and moving closer to majority ownership.

Vodafone Group likely sold a 20% stake in Indus Towers in a block auction today, with an average price of ₹312 per share.

Vodafone has hired advisors from Bank of America, Morgan Stanley, and BNP Paribas to help with the stake sale in Indian stock markets.

In January this year, Bharti Airtel prepaid ₹8,325 Crore to the Department of Telecom for part payment of delayed liabilities from the 2015 spectrum auction.

The company raised ₹2,075 Crore from its promoters by issuing preferential shares. The company successfully raised ₹20,000 Crore, so far.

ATC Telecom Infrastructure had a 2.87% investment in VI after converting debentures into equity.

Rajiv Jain's GQG Partners, which had invested almost ₹1,350 Crore in Vi's anchor book, continued to back the FPO on Monday.

The Indian government, which owns 32% of Vodafone Idea (Vi), expressed complete support for the carrier's fundraising efforts on Tuesday.