Tata Tele Maharashtra to Raise Additional Fund of Rs 20,000 Crore Through Debt

Debt-ridden telecom firm Tata Teleservices Maharashtra has now received its board’s approval to raise an additional fund of Rs 20,000 crore through debt instruments. “…the board of directors of the company at its meeting held on August 10, 2018, has approved raising of additional funds up to an aggregate amount of Rs 20,000 crore,” Tata Teleservices (Maharashtra) said in a regulatory note, as reported by PTI. The fundraising will be done either by issue of securities, instruments etc. including redeemable preference shares to promoters on preferential basis, non-convertible debentures or inter-corporate deposit or loans from the promoters or other entities.

tata-tele-maharashtra

The parent firm of the company Tata Teleservices (TTSL) has dues of around Rs 10,000 crore pending to be paid to the telecom department. TTSL is in the process of merging its mobile service business with Bharti Airtel and will need to clear dues before the DoT takes merger on record.

Tata Tele Maharashtra Posted Losses in Q1 FY18

TTML posted narrowing of total comprehensive loss to Rs 454.46 crore for the three months ended June 30, 2018, from Rs 681.26 crore in the March quarter and Rs 506.04 crore during the April-June previous fiscal.

The company, whose accumulated losses have exceeded its paid-up capital and reserves, had said in a regulatory filing that it had secured a support letter from the promoters, indicating their willingness to organise for any liquidity shortfall in meeting financial obligations and repayment of debt.

Tata Tele Merger With Bharti Airtel

TTML has obtained a support letter dated May 28, 2018, from its promoter indicating that the promoter will take necessary actions to organise for any shortfall in liquidity of the company that may arise to meet its financial obligations and timely repayment of debt.

Tata Teleservices is in discussions to monetise “certain assets”, proceeds of which will be used to meet its financial obligations when they fall due.

Chakri is a go-to guy for your next smartphone recommendation. Back in his engineering days, he used to play with smartphones by installing custom ROMs and that passion got him into the tech industry. He still goes nuts about a smartphone knocking his door for review. Currently managing everything at Telecom Talk, Chakri is trying to master PUBG Mobile in his free time.

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Kaushik IMAEsmailKiran Fernandes | GoaIdea88Nikhil Mumbai-Pune Recent comment authors
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Idea88
Idea88

Offtooic – how much and which band that Jio will utilise of rcom as SC allowed them to sale assets to Jio ???

Kaushik IMA
Kaushik IMA

Off topic: SD 652/653/650 devices will not be updated to Android P.

From qualcomm end only the devices with SD 625/450/626, SD 820/821, SD 42X/43X, SD 835/845 will get sources for Android P.

So oreo is last update for Samsung A9 Pro/C9 Pro users.

Nikhil Mumbai-Pune
Nikhil Mumbai-Pune

Oreo update will come to Samsung A9 Pro/C9 Pro users in January 2019.

Nikhil Mumbai-Pune
Nikhil Mumbai-Pune

Why this Kolavari Di? When snapdragon 425/435 getting updates for Android P and not for Snapdragon 650 ?

Kaushik IMA
Kaushik IMA

Because of Linux Kernel. 3.10 kernel now used only for SD810 and SD65X family along with SD61x. SD61x – no phone released recently, SD810 – Qualcomm dropped support early. Qualcomm wants to drop support for development of old kernel which is applicable only for very limited SOC range and few devices. 3.18 kernel has lots of SOC – SD450, 625, 626, SD 820/821 and lots of devices were released (still getting released) on these SOCs. So Qualcomm will support. It will be a miracle if ANY SD 652/653 device gets Android P. Even HTC dropped support for it’s recently launched… Read more »

Kaushik IMA
Kaushik IMA

P. S. SD42x/43x also running 3.18 kernel. Forgot to mention earlier.

Kiran Fernandes | Goa
Kiran Fernandes | Goa

Hahahahahahaha good job Samsung 😀 😀

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