Out of the 72,098 MHz of total spectrum on offer, 71 percent or 51,236 MHz has been sold in the auction held through 40 rounds of bidding over the past seven days.
Four bidders were in the fray — Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data on the day one. The expected revenue is around 1.5 times higher than government's pre-auction estimates of Rs 80,000 crore to Rs 1 lakh crore.
Akshay Moondra's tenure as the chief executive officer will start from August 19, 2022, for a three-year period. He will be replacing the incumbent CEO, Ravinder Takkar, who was appointed to the post in 2019.
As per voting results submitted to the stock exchanges on Friday evening, 99.94 per cent of Vodafone Idea (VIL) shareholders approved allocation of the equity to Vodafone Group firm Euro Pacific Securities.
The spectrum auction, scheduled to start on July 26, may see aggressive bids for some frequency bands, with the entry of Adani Data Networks and established players Reliance Jio and Bharti Airtel looking to strengthen their hold in the industry.
Adani Group in a statement clarified that its intention to acquire 5G spectrum is to provide a private network for airports and its ports business
Spectrum totalling 72 gigahertz (Ghz) would be put on the block in the auction expected to commence on July 26.
The company in a late night filing on June 22, said that the DoT on June 15, has raised adjusted gross revenue (AGR) demand for additional two financial years beyond 2016-17, which were not covered under the Supreme court order on the statutory dues.
The company has called an extraordinary general meeting on July 15 to seek "approval of shareholders" on the proposal to raise the funds through preferential issue.
The fundraising will be through the issuance of equity shares or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company).
“A board meeting is scheduled to be held on Wednesday to consider among other things a proposal for raising of funds aggregating up to Rs 500 crore by way of issuance of shares and/or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company),” the telecom operator said in a filing on June 19.
Our specially curated package of the most interesting articles of the day will help you stay at the top of your game.
The losses were at Rs 7,022.8 crore in the year-ago period, according to a company filing.
The company earlier held 44.39 per cent stake in Vodafone Idea Limited (VIL).
New Delhi, Mar 31 Vodafone Idea on Thursday said its board has approved the allotment of 338.3 crore equity shares at Rs 13.30 per scrip to three pr..
Derivative contracts in the said security crossed 95 percent of the market-wide position limit and hence it is on the ban list, the NSE said.
Vodafone Idea and Sun TV Network continue to be on the F&O ban list released by the exchange on Monday evening.
Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, SAIL, and Sun TV Network continue to be on the F&O ban list published by the exchange.
Vodafone Idea said its games service will initially offer casual games and gradually expand to host social games and esports in the future.
Research firm Nomura has kept reduce rating on Vodafone Idea with a target at Rs 8 per share.
The board also approved the issue of shares or securities convertible into equity shares, global depository receipts, American depository receipts, foreign currency convertible bonds, non-convertible and convertible debentures, warrants etc worth Rs 10,000 crore in one or more tranches.