Vodafone Idea (Vi) has called special investors and analysts meet on September 23, 2024. It will be Monday and this meeting is scheduled from 2:30 PM to 3:00 PM. The company said that this meeting is to provide an update on the recent developments. For the unaware, the Supreme Court of India said that they won't entertain any recalculation pleas for adjusted gross revenue (AGR) dues.
The participants from the company (Vodafone Idea) at this meet will be Akshaya Moondra, CEO of Vodafone Idea, and Murthy GVAS, chief financial offer of the company. The telco's senior management team will also join this meeting.
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It will be interesting to hear what Vodafone Idea's management has to say about the developments. A Vi spokesperson told TelecomTalk, "We had shared a target of raising Rs 45000 crore via equity and debt. We have already raised Rs 18000 crore in India’s largest FPO and preferential issuance of equity shares worth Rs 2080 crore to ABG entity (Promoter group). The next step is securing debt funding, and we are in active discussions with multiple banks. A key milestone in this process was the updating of the independent techno-economic evaluation (TEV) initiated by the banks, which was completed recently."
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This statement doesn't address the situation at hand exactly but signifies that the company is focused on raising funds via debt. The lenders will be looking at the developments closely.
