New Delhi. Vodafone plc has invested $ 200 million, or about Rs.1530 crore in Vodafone Idea. Vodafone plc is the mum or dad firm of Vodafone. The situation of Vodafone Idea is unhealthy. There is a whole lot of debt and strain on the federal government to repay AGR. In such a state of affairs, this funding is essential which can assist the corporate in working the business. Vodafone plc has mentioned that it has invested $ 200 million in Vodafone Idea, which was to be finished in September 2020. Vodafone Group mentioned that its funding will profit about 300 million Indian cellular clients who’re clients of Vodafone Idea. Also it is going to assist in taking well being measures for the staff of the corporate amidst the corona epidemic. <! –
Vodafone paid some AGR
Vodafone Plc has acknowledged that Vodafone Idea has develop into chargeable for paying license charge, penalty and curiosity of 14 years after the Supreme Court of India ruling on the definition of Adjusted Gross Revenue (AGR) in October 2019. Vodafone Idea has repaid a few of the AGR. Earlier this week, Vodafone Idea, a three way partnership of Vodafone Group and Aditya Birla Group, paid round Rs 1,367 crore to the federal government for license charge and spectrum utilization cost (SUC) funds for the March quarter of this yr.
Vodafone Idea shares gained momentum as a result of information of funding from Vodafone plc. The firm's inventory rose 15 per cent today and eventually the Vodafone Idea inventory closed up Rs 0.37, or 9.34 per cent, at Rs 4.33 on the BSE. Its share capital at this value is Rs 12,442.42 crore. The inventory of Vodafone Idea has been the best value within the final 52 weeks at Rs 17.70 and the low is Rs 2.61.
Recently there was information that Vodafone plc could make investments some new capital in Vodafone Idea. Along with Vodafone, the Aditya Birla Group was additionally reported to be investing some cash to maintain Vodafone Idea from drowning. According to the information, which got here a few week in the past, it was reported that Vodafone Group will make investments $ 20–22.5 million in Vodafone Idea and Aditya Birla Group to speculate $ 125–15 million.
Lockdown: India bought one other huge funding, information are being made