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沃达丰Idea继续融资，不大可能选择以利息方式进行股权转换:IIFL
该券商预计，沃达丰Idea将继续从发起人和其他投资者那里筹集资金，而不会让政府“以每股10卢比(远低于CMP)的价格收购大量股份”。
“我们的计算表明，如果Vi行使这一选择权，将被稀释约52%，政府最终可能拥有约34%的股份。随着最近约20%的关税上调，Vi可能耗尽了偿还12月21日至2月22日到期的非传染性疾病(不可转换债券)的资金，其前景已有所改善，”IIFL在一份报告中表示。
该经纪公司预计，Vi将继续从发起人和其他投资者那里筹集资金，而不是让政府“以每股10卢比(远低于CMP)的价格收购大量股份”。
作为2021年9月宣布的电信改革的一部分，政府向电信公司提供了4年暂停AGR和频谱支付的选项。它使电信公司可以选择以股本的方式支付利息金额，这是由于与暂停期有关的递延会费而产生的NPV保护。
Airtel不会选择延期支付利息的股权转换
这家第二大电信公司预计将支付43980亿卢比的AGR会费，其中已经支付了18004亿卢比。
的电信部(美国交通部)最近通知，电信公司有时间在2022年1月12日之前决定这一选项。
Vi的竞争对手,Bharti Airtel已通知电讯部门，不会选择将频谱利息和AGR会费转换为股本。
据该经纪公司称，Vi公司4年延期付款的利息净现值为1500亿卢比。
“随着Vi的前景在最近几个月有所改善，并且有可能沃达丰股价在我们看来，出售Indus的股份，并向Vi注入股权，Vi将政府会费转换为股权的可能性很低。”
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<\/figure>NEW DELHI: Vodafone Idea<\/a> (Vi) is likely to continue fundraising, and is \u201cless likely\u201d to opt for conversion of interest amount during the four-year moratorium period on spectrum and adjusted gross revenue (AGR) dues into equity on the back of the telco\u2019s improved prospects, according to IIFL Securities<\/a>. \u201cOur calculation suggests that if Vi were to exercise this option, there would be ~52% dilution and the government could end up owning ~34% stake. With the recent ~20% tariff hikes and Vi having likely tied up the funding for repaying the NCDs (non-convertible debenture) maturing between Dec-21 and Feb-22, its prospects have improved,\u201d IIFL said in a note.
The brokerage expects Vi to continue its fundraising efforts from its promoters and other investors rather than letting the government \u201cacquire a significant stake, especially at Rs10\/share (well below CMP)\u201d.
<\/div><\/div>Vodafone Idea stocks closed at Rs 14.85, down 1.66% at Bombay Stock Exchage (BSE) on Monday.
As part of the telecom reforms announced in September 2021, the government offered telcos the option to avail of moratorium on AGR and spectrum payments for 4-years. It gave telcos an option to pay the interest amount, arising out of NPV protection on account of deferred dues, pertaining to the moratorium period, by way of equity.
As part of the telecom reforms announced in September 2021, the government offered telcos the option to avail of moratorium on AGR and spectrum payments for 4-years. It gave telcos an option to pay the interest amount, arising out of NPV protection on account of deferred dues, pertaining to the moratorium period, by way of equity.