MUMBAI: Vodafone<\/a> Group Plc pumped a record Rs 47,700 crore of overseas investment<\/a> into its Indian operation, slashing the unit's debt by half, priming it for the upcoming spectrum auction and ensuring battle-readiness in the fight for market share as Reliance Jio Infocomm enters the fray. 孟买:沃达丰(Vodafone)Group Plc)注入创纪录的47700卢比的海外投资其印度业务,单位的债务削减了一半,启动它为即将到来的频谱拍卖在争夺市场份额,确保battle-readiness依赖Jio Infocomm进入战斗。
\n
The capital infusion, which involves converting loans to shares in the first half of the fiscal in the country's second-biggest phone company, “will enable Vodafone<\/a> India to continue its investments in spectrum and expansion of networks across various technology layers“, said Chief Executive Sunil Sood<\/a>.
\n
This is the largest foreign direct investment (FDI) in India in rupee terms, exceeding BP's $7.2-billion purchase of a stake in Reliance Industries. To put things in perspective, thirdranked telco Idea Cellular's market value at close of trade on Thursday was `31,000 crore on the Bombay Stock Exchange while Reliance Communications<\/a> was just over `12,100 crore. Leader Bharti Airtel<\/a> was at nearly `1,30,795 crore.
\n
\nVodafone's investment in India since 2007 amounted to `1.15 lakh crore at the end of March.
\n
\nThe infusion brings the company's net debt down to `34,300 crore and cuts the debt to equity ratio by half, said Sood. At the end of the last financial year, this stood at `81,500 crore, leaving little free cash.
\n
\n“We are judiciously deploying a portfolio of technologies -2G, 3G, 4G and IoT (Internet of Things) -to cater to the myriad connectivity needs of our retail and enterprise customers across the country,“ Sood said. The carrier's subscriber base has crossed 200 million, against Bharti Airtel<\/a>'s 250 million.
\n
\nET had reported in its edition on September 14 that Vodafone was looking to make an infusion into the India unit to replace debt to increase its competitiveness.
\n
\nThe move signals Vodafone's aggressive intent in the spectrum auction that's set to start October 1, especially for 4G airwaves, experts said.
\n
“Vodafone needed it (infusion). We have seen others increasing capex and Vodafone doesn't have that panIndia 3G4G network that it will need,“ said Kunal Bajaj, an industry<\/a> consultant.
\n
\nThe mobile phone operator has 4G spectrum in nine of the country's 22 circles, with operations in eight, lagging behind Jio and market leader Bharti Airtel's pan-India holdings.India is set to sell spectrum, valued at `5.6 lakh crore at the reserve price, including airwaves in the 4G and 3G bands. Besides 4G, analysts said Vodafone may buy 3G airwaves to plug coverage gaps.
\n
\nVODAFONE MAY SPEND BIG
\n
\nBrokerage PhillipCapital expects Vodafone to spend about `11,300 crore in the upcoming auction, more than its rivals Jio, Airtel and Idea Cellular.
\n
\nVodafone has struggled in the past few years with challenger Idea Cellular gaining over it in many areas but Sood said his company had gained a 0.6 percentage point market share in the last half year.
\n
\nThe company's global management recently acknowledged at a conference that Vodafone India needed to strengthen its 4G holdings to be competitive, said a person aware of the matter.
\n
\nThe parent also indicated that it would delay plans to cease funding the Indian arm, he said.
\n
\nEarlier this year, Vodafone India had initiated the process to launch an initial public offer, widely seen as a move to raise money for the spectrum auction without tapping its parent. On Thursday, the company didn't divulge any specific details on the IPO but said plans are on track. Analysts are skeptical about an IPO.
\n
\n“They (Vodafone Plc) may have thought the IPO would happen sooner, but now that it hasn't, this (infusion) was necessary,“ said Bajaj.
\n
\nPressure on telecom stocks because of the Jio launch makes a public offer unlikely right now.
\n
\nThe conversion frees up borrowing capacity and boosts credibility in terms of the parent's firm backing for its Indian unit, said a banker.
\n
\nVodafone is in a long-running dispute over a tax demand of around Rs 20,000 crore, including penalties and interest, related to the acquisition of Hutchison's stake in the company in 2007.
\n
\nPrashant Singhal of E&Y said: “The industry<\/a> will need a further investment of $10-12 billion and such conversions increase the borrowing capabilities of companies to meet such investment needs.“\n\n<\/p><\/body>","next_sibling":[{"msid":54462429,"title":"Panasonic launches P77 at Rs 6990; expects Rs 600 crore sales this festive season","entity_type":"ARTICLE","link":"\/news\/panasonic-launches-p77-at-rs-6990-expects-rs-600-crore-sales-this-festive-season\/54462429","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":54462692,"entity_type":"ARTICLE","title":"Jio effect: Vodafone gets record Rs 48000 cr FDI infusion from parent","synopsis":"Vodafone India gets Rs 47,700-cr fresh equity from parent","titleseo":"telecomnews\/vodafone-india-gets-rs-47700-cr-fresh-equity-from-parent","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":104,"shares":0,"engagementtimems":393000},"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-09-22 15:09:38","lastupd":"2016-09-29 17:20:32","breadcrumbTags":["Airtel","Vodafone","industry","investment","Reliance communications","equity infusion","Sunil Sood","Voda2016"],"secinfo":{"seolocation":"telecomnews\/vodafone-india-gets-rs-47700-cr-fresh-equity-from-parent"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2016-09-22" data-index="article_1">
注资,这涉及到将贷款转换为股份上半年财政在该国第二大电话公司”将使沃达丰(Vodafone)印度继续其投资范围和扩大网络跨各种技术层”,首席执行官说苏尼尔Sood。
这是最大的外国直接投资(FDI)在印度卢比计算,超过了英国石油公司的7.2美元入股信实工业。实事求是地看,thirdranked电信手机在周四收盘市值是31000卢比的孟买证交所信实电信是刚刚超过12100卢比。领袖Bharti附近的旅馆是近30795卢比。
沃达丰的投资在印度自2007年以来达到“1.15卢比在3月底。
输液带来公司的净债务到34300卢比,削减债务/股本比例减半,Sood说。去年财政年度结束时,这个站在“81500卢比,离开小自由现金。
“我们明智地部署组合技术2 g、3 g, 4 g和物联网(物联网)——迎合无数连接全国的零售和企业客户的需求,“Sood说。运营商的用户数量已经跨越了2亿年,反对Bharti附近的旅馆2.5亿年的。
等报道了版9月14日,沃达丰将使印度注入到单位来取代债务增加其竞争力。
此举表明沃达丰的咄咄逼人的气焰频谱拍卖10月1日开始,尤其是对4 g无线电波,专家说。
“沃达丰需要它(注入)。我们看到别人增加资本支出和沃达丰没有panIndia 3 g4g网络,它将需要“库纳尔•巴贾杰说行业顾问。
移动电话运营商的4 g频谱在9个国家的22个圈子,在八、开展业务落后Jio和市场领袖Bharti Airtel pan-India控股。印度将出售,价值5.6卢比的保留价格,只要包括电视广播在4 g和3 g的乐队。除了4 g,分析师表示,沃达丰可能购买3 g无线电波来填补覆盖缺口。
沃达丰可能花大
经纪PhillipCapital预计沃达丰将花费大约11300卢比在即将举行的拍卖中,超过其竞争对手Jio Airtel和细胞。
沃达丰在过去的几年里一直在挣扎,挑战者想法细胞获得了它在许多领域但Sood说他的公司已经获得了0.6%的市场份额在过去的半年。
该公司的全球管理最近在一次会议上承认,沃达丰印度需要加强其4 g控股的竞争,说一个人知道此事。
父还表示,它将推迟计划停止资助印度的手臂,他说。
今年早些时候,沃达丰印度发起流程启动首次公开报价,普遍认为此举为频谱拍卖其筹集资金的父母。周四,该公司没有透露任何具体细节在IPO,但表示计划步入正轨。分析人士怀疑IPO。
“他们(沃达丰Plc)可能认为IPO会发生早,但现在还没有,这(输液)是必要的,”巴贾杰表示。
压力电信股票因为Jio发射使公众现在提供可能。
转换腾出借贷能力和提高信誉的父母的公司支持其印度子公司,一个银行家说。
沃达丰的需求,解决长期存在的税收大约20000卢比,包括罚款和利息,有关收购和记黄埔的股份在2007年。
安永的Prashant Singhal说:“行业需要进一步投资10 - 12美元,这样转换增加公司的借贷能力来满足投资的需要。”
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MUMBAI: Vodafone<\/a> Group Plc pumped a record Rs 47,700 crore of overseas investment<\/a> into its Indian operation, slashing the unit's debt by half, priming it for the upcoming spectrum auction and ensuring battle-readiness in the fight for market share as Reliance Jio Infocomm enters the fray.
\n
The capital infusion, which involves converting loans to shares in the first half of the fiscal in the country's second-biggest phone company, “will enable Vodafone<\/a> India to continue its investments in spectrum and expansion of networks across various technology layers“, said Chief Executive Sunil Sood<\/a>.
\n
This is the largest foreign direct investment (FDI) in India in rupee terms, exceeding BP's $7.2-billion purchase of a stake in Reliance Industries. To put things in perspective, thirdranked telco Idea Cellular's market value at close of trade on Thursday was `31,000 crore on the Bombay Stock Exchange while Reliance Communications<\/a> was just over `12,100 crore. Leader Bharti Airtel<\/a> was at nearly `1,30,795 crore.
\n
\nVodafone's investment in India since 2007 amounted to `1.15 lakh crore at the end of March.
\n
\nThe infusion brings the company's net debt down to `34,300 crore and cuts the debt to equity ratio by half, said Sood. At the end of the last financial year, this stood at `81,500 crore, leaving little free cash.
\n
\n“We are judiciously deploying a portfolio of technologies -2G, 3G, 4G and IoT (Internet of Things) -to cater to the myriad connectivity needs of our retail and enterprise customers across the country,“ Sood said. The carrier's subscriber base has crossed 200 million, against Bharti Airtel<\/a>'s 250 million.
\n
\nET had reported in its edition on September 14 that Vodafone was looking to make an infusion into the India unit to replace debt to increase its competitiveness.
\n
\nThe move signals Vodafone's aggressive intent in the spectrum auction that's set to start October 1, especially for 4G airwaves, experts said.
\n
“Vodafone needed it (infusion). We have seen others increasing capex and Vodafone doesn't have that panIndia 3G4G network that it will need,“ said Kunal Bajaj, an industry<\/a> consultant.
\n
\nThe mobile phone operator has 4G spectrum in nine of the country's 22 circles, with operations in eight, lagging behind Jio and market leader Bharti Airtel's pan-India holdings.India is set to sell spectrum, valued at `5.6 lakh crore at the reserve price, including airwaves in the 4G and 3G bands. Besides 4G, analysts said Vodafone may buy 3G airwaves to plug coverage gaps.
\n
\nVODAFONE MAY SPEND BIG
\n
\nBrokerage PhillipCapital expects Vodafone to spend about `11,300 crore in the upcoming auction, more than its rivals Jio, Airtel and Idea Cellular.
\n
\nVodafone has struggled in the past few years with challenger Idea Cellular gaining over it in many areas but Sood said his company had gained a 0.6 percentage point market share in the last half year.
\n
\nThe company's global management recently acknowledged at a conference that Vodafone India needed to strengthen its 4G holdings to be competitive, said a person aware of the matter.
\n
\nThe parent also indicated that it would delay plans to cease funding the Indian arm, he said.
\n
\nEarlier this year, Vodafone India had initiated the process to launch an initial public offer, widely seen as a move to raise money for the spectrum auction without tapping its parent. On Thursday, the company didn't divulge any specific details on the IPO but said plans are on track. Analysts are skeptical about an IPO.
\n
\n“They (Vodafone Plc) may have thought the IPO would happen sooner, but now that it hasn't, this (infusion) was necessary,“ said Bajaj.
\n
\nPressure on telecom stocks because of the Jio launch makes a public offer unlikely right now.
\n
\nThe conversion frees up borrowing capacity and boosts credibility in terms of the parent's firm backing for its Indian unit, said a banker.
\n
\nVodafone is in a long-running dispute over a tax demand of around Rs 20,000 crore, including penalties and interest, related to the acquisition of Hutchison's stake in the company in 2007.
\n
\nPrashant Singhal of E&Y said: “The industry<\/a> will need a further investment of $10-12 billion and such conversions increase the borrowing capabilities of companies to meet such investment needs.“\n\n<\/p><\/body>","next_sibling":[{"msid":54462429,"title":"Panasonic launches P77 at Rs 6990; expects Rs 600 crore sales this festive season","entity_type":"ARTICLE","link":"\/news\/panasonic-launches-p77-at-rs-6990-expects-rs-600-crore-sales-this-festive-season\/54462429","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":54462692,"entity_type":"ARTICLE","title":"Jio effect: Vodafone gets record Rs 48000 cr FDI infusion from parent","synopsis":"Vodafone India gets Rs 47,700-cr fresh equity from parent","titleseo":"telecomnews\/vodafone-india-gets-rs-47700-cr-fresh-equity-from-parent","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":104,"shares":0,"engagementtimems":393000},"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-09-22 15:09:38","lastupd":"2016-09-29 17:20:32","breadcrumbTags":["Airtel","Vodafone","industry","investment","Reliance communications","equity infusion","Sunil Sood","Voda2016"],"secinfo":{"seolocation":"telecomnews\/vodafone-india-gets-rs-47700-cr-fresh-equity-from-parent"}}" data-news_link="//www.iser-br.com/news/vodafone-india-gets-rs-47700-cr-fresh-equity-from-parent/54462692">
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