Vodafone Idea: The company got relief from DoT, got 4-year moratorium to pay the dues of FY18-19. Zee Business

Vodafone Idea: Many types of news keep coming in the stock market and action is seen in the company’s stock in terms of news. In such a situation, there can be a stir in the stock of Vodafone-Idea. The company has got additional relief from the Department of Telecommunications. The company has got a moratorium of 4 years to clear the dues till the financial year 2018-19. Let us inform that in the year 2014, the Department of Telecommunications had given a time of 4 years for the dues till the financial year 2016-17. The company had received a letter from the Department of Telecommunications on June 15. In this letter, the Department of Telecom had told that the company owes Rs 8837 crore.

Vodafone opts for moratorium

In the board meeting held on June 22, the company had opted for the moratorium and during this time the company got 4 more years to clear its dues of the financial year 2018-19. Explain that after March 31, 2026, the company will pay the dues in equal installments.

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Company approved to raise 436.21 crores

Let us tell you that on 22 June i.e. Wednesday, the company had a board meeting and in this board meeting there was discussion about raising funds. In the meeting, the board of the company had approved the raising of funds of Rs 436.21 crore. Promoters Company will issue shares or warrants to Euro Pacific.

According to the information received from the board meeting, the company will either raise 4277 million equity shares or 427 million warrant funds from Euro Pacific Securities Limited. During this, the company will issue Rs 10.20 per share. Apart from this, EGM has been organized on 15th July for approval on the preferential issue.

How were Vodafone Idea’s results?

Telecom company Vodafone Idea Limited (VIL) consolidated loss (Vi loss) for the fourth quarter of the last financial year ended March 2022 reduced to Rs 6,563.1 crore. The company had a loss of Rs 7,022.8 crore in the same quarter a year ago. According to the news of PTI, VIL gave this information to the stock exchanges. The company said that its operating income grew 6.6 per cent year-on-year to Rs 10,239.5 crore in the January-March 2022 quarter.

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