Vodafone idea
Vodafone Idea Share: Thursday was a very special day for the investors of Vodafone Idea. The company’s shares saw a tremendous rise of 11.13% on BSE and the stock reached the day high of Rs 7.29. This boom came after the news that it was said that the Prime Minister’s Office can consider a big relief package in view of the poor economic situation of the company.
Vodafone Idea has been struggling with financial crisis for a long time. The company owes about Rs 83,400 crore related to AGR. Apart from this, this amount has increased to about 2 lakh crore rupees by adding fine and interest. From March 2025, the company will have to pay around Rs 18,000 crore every year, which is extremely difficult in the current situation of the company.
You can get relief from the government
According to a report by Moneycontrol, the Department of Telecommunications (DOT) has sent an informal letter to the Prime Minister’s Office in which some measures have been proposed to give relief to Vodafone Idea. These measures include options such as further extending the existing relief on AGR outstanding payments for two years, relaxation conditions, fine and interest exemption. If the government accepts these proposals, then it can provide great relief to Vodafone Idea.
Why is this relief necessary?
Akshay Mundra, CEO of Vodafone Idea, has already said that the company’s financial situation is very critical and the government’s help is necessary for its existence. He also stated that the company is looking for an alternative funding to invest in its network, as traditional banking channels are not currently an option.
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