Mumbai|Kolkata: Vodafone Idea<\/a> (Vi) has dialled a host of lenders — State Bank of India<\/a>, Punjab National Bank<\/a>, HDFC Bank<\/a> and IDFC<\/a> First, among others — to line up loans aggregating upward of Rs 7,000 crore. The bulk of the loans will be used to clear a portion of its dues to Indus Towers<\/a>, three people aware of the matter said. Co-promoted由英国沃达丰Plc和印度Aditya Birla集团(ABG),六世需要现金迅速的会费印度河安装大约7500卢比。它承诺了塔公司支付100%的当前费从1月开始,并明确其优秀的12月31日,2022年,在七个月,本月开始。 孟买加尔各答|:沃达丰的想法(Vi)已经在电话银行-印度国家银行,旁遮普国家银行,HDFC银行和IDFC首先,等等——贷款向上聚集的7000卢比。大量的贷款将用于明确其会费的一部分印度塔说,三个人知道这件事。 Mumbai|Kolkata: Vodafone Idea<\/a> (Vi) has dialled a host of lenders — State Bank of India<\/a>, Punjab National Bank<\/a>, HDFC Bank<\/a> and IDFC<\/a> First, among others — to line up loans aggregating upward of Rs 7,000 crore. The bulk of the loans will be used to clear a portion of its dues to Indus Towers<\/a>, three people aware of the matter said.
“Yes, Vi has approached us for a loan, but we haven’t committed anything to them; it’s at a logjam,” a senior official at a bank told ET.
Lenders sought clarity on the government’s potential shareholding in the telco, plans for promoters to infuse equity to shore up investor confidence and business scale-up.
An official at another lender said Vi has asked them to factor in Rs 15,000 crore bank guarantees and grant fresh loans.
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Monthly Dues to Indus at Rs 250-300 crore
<\/strong>
The bank guarantees were returned by the government last year under a revival package for the sector.
Co-promoted by the UK’s Vodafone Plc and India’s Aditya Birla Group (ABG), Vi needs the cash quickly as its dues to Indus have mounted to around Rs 7,500 crore. It has given a commitment to the tower company to pay 100% of its current dues from January onwards, and also clear its outstanding as of December 31, 2022, over seven months, starting this month.
Vodafone Idea<\/a>’s monthly dues to the tower company are estimated at Rs 250-300 crore, said a person aware of the situation.
Indus previously warned Vi it would disconnect access to tower sites unless its payments were cleared. The telco had subsequently given the deferred payment proposal, which was accepted by the tower company.
As of press time, ET’s queries to Vi and ABG were unanswered. UK’s Vodafone and Indus declined to offer comment. Queries to SBI<\/a>, PNB<\/a>, HDFC Bank and IDFC First did not elicit a response.
One of the officials quoted earlier said the banking system cannot give loans to a company that has a negative net worth, and that there was no guarantee that these loans would be repaid. Vi had a negative net worth of Rs 75,830.8 crore as of September end, FY23.
The company had previously approached SBI<\/a> with a Rs 16,000-crore loan request but that hasn’t been sanctioned so far.
“Vi could face stern action from Indus if it fails to meet the latest payment timelines, starting from January…if it does not pay up on time, things could escalate and stronger measures to recover its dues may be discussed at Indus’ next board meeting later this month,” said a person familiar with familiar with the thinking at the tower company.
<\/p>Read also<\/h4>
<\/a><\/figure>UK-India trade body dials Indian envoy on Vodafone Idea equity conversion<\/a><\/h5><\/div>
<\/a><\/figure>KM Birla meets Vaishnaw to urge govt to expedite Vodafone Idea’s dues conversion into equity: Report<\/a><\/h5><\/div>
<\/a><\/figure>Vodafone Idea equity conversion complex issue, under discussion: Vaishnaw<\/a><\/h5><\/div>
<\/a><\/figure>'No govt stake deal in Vodafone Idea until promoters infuse enough cash'<\/a><\/h5><\/div><\/div><\/div>
Indus in Trouble<\/strong>
Indus itself is facing a tough financial situation due to Vodafone Idea’s unpaid dues. It reported a 44% on-year fall in its September quarter net profit to Rs 872 crore, stung largely by a provision of Rs 1,770.9 crore towards doubtful debt, related to the company’s receivables from Vi. Indus’ trade receivables rose 4% sequentially in the September quarter to Rs 6,499 crore, largely due to the delayed payments.
“Vi’s financial constraints have led to a ballooning of Indus’ receivables,” Kotak Institutional Equities said in a note seen by ET. “Given Vi’s inability to make timely payments, Indus’ receivables will continue to rise and will likely have to be provisioned for (Rs 3,000 crore bad debt provisions in H1 FY23) and ultimately be written off.”
The brokerage added that the cash-strapped telco accounts for over 40% of Indus revenue<\/a>, and accordingly, as much as 10% of the tower company’s annual overall revenue could be at risk due to Vi’s cash shortfall.
“Despite the recent equity infusion (over Rs 4,900 crore) by Vi’s promoters and the subsequent repayment of Indus’ past dues, Vi still owes Rs 7,500 crore to Indus. Given the continued market share decline, Vi’s fundraise will be challenging and it will continue to take a toll on Indus,” Kotak warned. Over Rs 3,000 crore of the funds raised was paid by Vodafone Idea to Indus.
Additionally, Vi needs funds urgently to clear its substantial dues to large vendors such as Nokia and Ericsson. It also needs cash to roll out 5G services, expand its 4G coverage to arrest customer losses to financially stronger rivals Airtel<\/a> and Jio.
Vi was saddled with a net debt of around Rs 2.2 lakh crore in the second quarter and ended it with a modest gross cash balance of Rs 190 crore. Its Rs 9,600-crore upcoming debt repayment by September 2023 could further shackle the telco’s ability to incur capex, underlining the need for an urgent and substantial capital raise.
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沃达丰想法电话银行7000卢比的紧急贷款
“是的,贷款Vi走近我们,但是我们没有承诺任何他们;这是在一个僵局,”银行的一位高级官员告诉ET。
银行希望明确政府的潜在电信股份,计划推动者注入股本来支撑投资者信心和业务扩大。
每月的会费印度河在250 - 300卢比
返回的银行担保是政府去年在复兴计划。
Co-promoted由英国沃达丰Plc和印度Aditya Birla集团(ABG),六世需要现金迅速的会费印度河安装大约7500卢比。它承诺了塔公司支付100%的当前费从1月开始,并明确其优秀的12月31日,2022年,在七个月,本月开始。
沃达丰的想法每月的会费塔公司估计在250 - 300卢比,说一个人知道。
印度河之前警告Vi将断开访问塔网站,除非其支付清除。电信随后延期付款的提议,由塔接受了公司。
截至发稿时为止,ET的查询Vi和ABG回答。英国的沃达丰(Vodafone)和印度拒绝发表评论。查询印度国家银行,PNBHDFC银行和IDFC第一没有引起反应。
一个官员早些时候援引说银行系统不能给公司贷款负资产净值,并没有保证偿还这些贷款。Vi净资产为负75830。8卢比截至9月份结束,FY23。
该公司此前曾接近印度国家银行用价值16000卢比的贷款请求,但到目前为止还没有被批准。
“Vi可能面临严厉的行动从印度河如果未能满足最新的付款时间表,从1月开始…如果不按时付清,事情可能升级和更有力的措施来恢复其费可能在印度河讨论下董事会会议在本月晚些时候,”一位知情人士说在塔公司熟悉的想法。
读也
印度有麻烦
印度本身正面临严峻的金融形势由于沃达丰无偿税的想法。公布其季度净利润较上年同期下降44%,但872卢比,刺痛主要由一个条款1770卢比的呆账,相关公司的应收账款从Vi。印度的贸易应收账款较上季成长4% 9月季度6499卢比,很大程度上由于延迟支付。
“六世的金融约束导致了不断膨胀的印度河的应收账款,”科塔克机构股票被外星人。”报告中称鉴于Vi无法及时付款,印度河的应收账款将继续上升,可能会需要提供(3000卢比坏账规定H1 FY23)并最终被一笔勾销。”
经纪说,现金拮据的电信占超过40%的印度河收入,因此,多达10%的塔公司的年度总收入风险可能是由于Vi的现金短缺。
“尽管最近股本注入(超过4900卢比)Vi的推动者和后续还款印度河的会费,Vi印度河仍欠7500卢比。的市场份额持续下降,六世的筹资将是一个挑战,它将继续影响印度河,”科塔克警告说。超过3000卢比的募集资金所支付的是沃达丰印度河。
此外,Vi基金迫切需要明确其实质性的会费诺基亚和爱立信等大型供应商。它也需要现金推出5 g服务,扩大其4 g覆盖逮捕客户损失经济更强大的竞争对手附近的旅馆和Jio。
Vi是背负着净债务约2.2十万的卢比在第二季度,它与总现金余额190卢比。它价值9600卢比的即将到来的债务偿还2023年9月可能会进一步卸扣电信承担资本支出的能力,强调紧急和重大资本提高的必要性。
“Yes, Vi has approached us for a loan, but we haven’t committed anything to them; it’s at a logjam,” a senior official at a bank told ET.
Lenders sought clarity on the government’s potential shareholding in the telco, plans for promoters to infuse equity to shore up investor confidence and business scale-up.
An official at another lender said Vi has asked them to factor in Rs 15,000 crore bank guarantees and grant fresh loans.
Monthly Dues to Indus at Rs 250-300 crore
<\/strong>
The bank guarantees were returned by the government last year under a revival package for the sector.
Co-promoted by the UK’s Vodafone Plc and India’s Aditya Birla Group (ABG), Vi needs the cash quickly as its dues to Indus have mounted to around Rs 7,500 crore. It has given a commitment to the tower company to pay 100% of its current dues from January onwards, and also clear its outstanding as of December 31, 2022, over seven months, starting this month.
Vodafone Idea<\/a>’s monthly dues to the tower company are estimated at Rs 250-300 crore, said a person aware of the situation.
Indus previously warned Vi it would disconnect access to tower sites unless its payments were cleared. The telco had subsequently given the deferred payment proposal, which was accepted by the tower company.
As of press time, ET’s queries to Vi and ABG were unanswered. UK’s Vodafone and Indus declined to offer comment. Queries to SBI<\/a>, PNB<\/a>, HDFC Bank and IDFC First did not elicit a response.
One of the officials quoted earlier said the banking system cannot give loans to a company that has a negative net worth, and that there was no guarantee that these loans would be repaid. Vi had a negative net worth of Rs 75,830.8 crore as of September end, FY23.
The company had previously approached SBI<\/a> with a Rs 16,000-crore loan request but that hasn’t been sanctioned so far.
“Vi could face stern action from Indus if it fails to meet the latest payment timelines, starting from January…if it does not pay up on time, things could escalate and stronger measures to recover its dues may be discussed at Indus’ next board meeting later this month,” said a person familiar with familiar with the thinking at the tower company.
<\/p>Read also<\/h4>
<\/a><\/figure>UK-India trade body dials Indian envoy on Vodafone Idea equity conversion<\/a><\/h5><\/div>
<\/a><\/figure>KM Birla meets Vaishnaw to urge govt to expedite Vodafone Idea’s dues conversion into equity: Report<\/a><\/h5><\/div>
<\/a><\/figure>Vodafone Idea equity conversion complex issue, under discussion: Vaishnaw<\/a><\/h5><\/div>
<\/a><\/figure>'No govt stake deal in Vodafone Idea until promoters infuse enough cash'<\/a><\/h5><\/div><\/div><\/div>
Indus in Trouble<\/strong>
Indus itself is facing a tough financial situation due to Vodafone Idea’s unpaid dues. It reported a 44% on-year fall in its September quarter net profit to Rs 872 crore, stung largely by a provision of Rs 1,770.9 crore towards doubtful debt, related to the company’s receivables from Vi. Indus’ trade receivables rose 4% sequentially in the September quarter to Rs 6,499 crore, largely due to the delayed payments.
“Vi’s financial constraints have led to a ballooning of Indus’ receivables,” Kotak Institutional Equities said in a note seen by ET. “Given Vi’s inability to make timely payments, Indus’ receivables will continue to rise and will likely have to be provisioned for (Rs 3,000 crore bad debt provisions in H1 FY23) and ultimately be written off.”
The brokerage added that the cash-strapped telco accounts for over 40% of Indus revenue<\/a>, and accordingly, as much as 10% of the tower company’s annual overall revenue could be at risk due to Vi’s cash shortfall.
“Despite the recent equity infusion (over Rs 4,900 crore) by Vi’s promoters and the subsequent repayment of Indus’ past dues, Vi still owes Rs 7,500 crore to Indus. Given the continued market share decline, Vi’s fundraise will be challenging and it will continue to take a toll on Indus,” Kotak warned. Over Rs 3,000 crore of the funds raised was paid by Vodafone Idea to Indus.
Additionally, Vi needs funds urgently to clear its substantial dues to large vendors such as Nokia and Ericsson. It also needs cash to roll out 5G services, expand its 4G coverage to arrest customer losses to financially stronger rivals Airtel<\/a> and Jio.
Vi was saddled with a net debt of around Rs 2.2 lakh crore in the second quarter and ended it with a modest gross cash balance of Rs 190 crore. Its Rs 9,600-crore upcoming debt repayment by September 2023 could further shackle the telco’s ability to incur capex, underlining the need for an urgent and substantial capital raise.
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