The postpaid family plan starts at Rs 399 but with three add-on SIM cards for a family of four, takes the total to Rs 996
According to Jefferies, Bharti Airtel is likely to see 13 percent growth in its mobile average revenue per user (ARPU) over FY23-25 adding that market share gains are likely to accelerate amid 5G rollouts.
The government does not intend to stay in it for long, and will look for an exit route once the share price is above Rs 10.
The balance of debentures worth Rs 400 crore shall be allotted upon receipt of the application form and subscription money and due intimation of the same shall be filed as necessary, VIL said in a regulatory filing.
The special resolution to this effect was cleared in an extraordinary general meeting (EGM) of Vodafone-Idea on February 25.
In Q3 FY23, revenue growth for the top three operators in India moderated to 2 percent QoQ and 18 percent YoY, primarily due to limited uptick in average revenue per user (ARPU), Jefferies said.
The overall subscriber base of the company declined to 22.86 crore during the reported quarter from 23.44 crore in the September 2022 quarter
The refinancing will help Vodafone Idea pay dues to tower companies like Indus Towers and network makers such as Ericsson and Nokia, the report said.
The announcement comes within days of Vodafone Idea getting a shot in the arm, with Centre on Friday clearing conversion of the troubled telco's accumulated interest dues worth Rs 16,000 crore into equity.
Vodafone Idea will be converting Rs 16,133 crore of debt into equity. After the conversion, the government will own 1613 crore shares in the firm, which roughly translates into 33 percent stake.
The company has been directed to issue 1,613 crore equity shares of the face value of Rs 10 each at an issue price of Rs 10 each, it said.
The state of panic for Indus Towers stems from Vi’s failure to cement a funding plan with its lenders, leading to shortfall in collection from the telco
Banks have sought clarity on whether the interest on deferred adjusted gross revenue, which Vi is liable to pay, will be converted into government equity, the sources said.
The matter relating to loans and raising funds has been in discussion for a while as lenders have sought clarity on the government's potential shareholding in Vi, as well as the telco's business scale-up plans.
Officials told ET that Vi's promoters had earlier assured the government that they would invest around Rs 10,000 crore. The assurance had come shortly before the government finalised a telecom sector revival package in September 2021
Vodafone Idea’s proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure has lapsed in the absence of any response from the government on the conversion of interest dues into equity.
The subscription of OCDs would depend on the government's nod to the conversion of VIL's interest dues into equity.
The OCD issue for ATC was subject to certain conditions including the approval of the government.
Vi's proposal would be placed before SBI's apex credit committee to finalise terms only after obtaining clarity on the loss-making telecom service provider's expansion plans.
The company said it lost 60 lakh subscribers during the quarter, almost double of 34 lakh it lost in the previous quarter. Its customer base now stands at 23.44 crore, which is nearly half of that of Reliance Jio
VIL has seen average revenue per user (ARPU) growth for five consecutive quarters now.