Vodafone Idea Limited (VIL), the third-largest telecom operator in the country, has offered to clear the remaining Rs 1500 crore worth of dues to Nokia in equal instalments. However, Nokia has not yet accepted the offer yet. The telco wants to clear this in different instalments by December 2025. For the unaware, Vodafone Idea recently decided to allot 1027 million equity shares to Nokia via a preferential issue to clear around half of the pending dues. The remaining Rs 1500 crore can now be paid by the telco in equal instalments, subject to Nokia's approval.
Read More - Jio, Airtel, Vi and BSNL 1.5GB Daily Data Plans with 84 Days Validity
Nokia Solutions and Networks India holds a 1.47% stake in Vodafone Idea post the allotment of equity shares. At this point, it is worth noting that Vi also has dues towards Ericsson. Vi would be an important client for Nokia in the future as it looks to roll out 5G and expand the availability of 5G throughout India.
Vi raised funds recently through the promoter Aditya Birla Group and also by successfully conducting the country's largest FPO (Follow On Public Offer). According to an ET report, Vi's top managers are confident that operational creditors like Nokia are going to support the company.
Read More - Vodafone Idea and Asianet Launch Vi One in Kerala, Check Plans
As Reliance Jio and Bharti Airtel cut down on their FY25 network rollout, both Nokia and Ericsson will look towards Vi as the next revenue source. Having raised funds, Vi is in a much better position than it used to be for paying off dues. Further, the recent tariff hikes will allow the telecom operator to increase overall revenues and further take the next step towards becoming financially sound.
It is also worth noting that Vi is looking to raise around Rs 25,000 crore via debt from the lenders. This money can further be used by the telco to pay off dues and invest in networks.
